Chiew Ho Foundation buys stake in AYS

PETALING JAYA: Chiew Ho (L) Foundation has emerged as a substantial shareholder in AYS Ventures Bhd, acquiring 239.6 million shares, or 57.27% stake, in the company.

In a filing with Bursa Malaysia, AYS said the foundation’s stake was bought through its purchase of the entire interest in Chiew Ho Holding Sdn Bhd (CHH) on Jan 13.

As a result, the foundation now holds an indirect interest in the 239.66 million AYS shares.

The foundation also informed the steel and building materials distributor that it, along with related parties including the Oh Family and Ann Yak Siong Group Sdn Bhd, is exempt from making a mandatory take-over offer following the transfer of the Oh Family’s entire interest in CHH.