KUALA LUMPUR (April 14): Siva Kumar M Jeyapalan, who is best known as the former chairman of Masterskill Education Group Bhd (now known as Asiamet Education Group Bhd), has bought 34.6 million shares in CLIQ Energy Bhd, representing a substantial 5.5% stake.

A filing with Bursa Malaysia today showed that Siva Kumar had purchased the block of shares on March 31. Based on CLIQ’s closing market price on March 31 of 69 sen, the block has a market value of RM23.88 million.

Siva Kumar sold his 30.75% stake in Masterskill to SMRT Holdings Bhd and Creador II LLC for RM112 million in January last year, and had ceased to be a substantial shareholder in the education group.

Subsequently in June 2015, he retired from the board of Masterskill.

He is also known to have shareholdings in other public listed entities, such as Enra Group Bhd and SAM Engineering & Equipment (M) Bhd.

CLIQ Energy has been in the news of late, as the management of the special purpose acquisition company (SPAC), led by its managing director and chief executive officer Ahmad Ziyad Elias, has filed a judicial review application at the High Court to prevent the company from being liquidated.

This follows the Securities Commission Malaysia’s decision in February to reject the company’s request for more time to pursue its qualifying acquisition.

CLIQ Energy shares ended the day down 0.5 sen (0.73%) to 68 sen today, for a market capitalisation of RM429.04 million.