KUALA LUMPUR (Sept 5): AIA Bhd has purchased more shares in Titijaya Land Bhd, raising its direct stake in the latter to 5.79%.

According to property developer Titijaya's filing to Bursa, the insurance firm AIA had purchased 1.55 million Titijaya shares last Friday (August 29)

The transaction further increased AIA's direct stake in Titijaya to 20.44 million shares. AIA also owns an indirect 0.11% stake comprising 390,500 shares in Titijaya.

Collectively, AIA has 20.83 million shares or a 5.9% stake in Titijaya. AIA had emerged as a major shareholder in Titijaya in July this year after acquiring a direct 5.26% stake in the latter.

Titijaya shares settled at RM2.59, down 0.38 per cent, with 14,200 shares traded.