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NewsTan Hua Choon sells total shareholding in PDZ
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Tan Hua Choon sells total shareholding in PDZ
by Cals Sat 26 Apr 2014, 18:25
| Tan Hua Choon sells total shareholding in PDZ |
| Business & Markets 2014 |
| Written by Ahmad Naqib Idris Adzman Shah of theedgemalaysia.com |
| Friday, 25 April 2014 18:36 KUALA LUMPUR (Apr 25): Tan Sri Datuk Tan Hua Choon had disposed his entire shareholding of 166.3 million shares equivalent to 19.13% stake in PDZ Holdings Bhd to Pelaburan Mara Bhd. According to a statement to Bursa Malaysia, Pelaburan Mara now owns a total of 233.25 million shares or 26.83% stake in the company. The Edge Financial Daily, quoting a source familiar with the matter, reported that Pelaburan Mara was expected to bring in a new business to PDZ. “The new business will most likely be related to the oil and gas (O&G) sector and is expected to arrest the current losses faced by PDZ’s container shipping business. “Pelaburan Mara is looking at buying O&G assets that will be injected into PDZ, transforming the shipping company into an O&G service provider,” said the source. He said this would amount to a business revival for PDZ as it enters a new market with more opportunities. “Pelaburan Mara may be looking at a number of areas in the O&G sector, which includes offshore services, hook-up and commissioning as well as engineering, procurement, construction, installation and commissioning (EPCIC),” he pointed out. |
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