Firm linked to MD raises stake in Ekovest via open-market share purchase

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KUALA LUMPUR (Oct 13): Lim Seong Hai Holdings Sdn Bhd (LSHH), a company linked to Ekovest Bhd managing director Tan Sri Lim Keng Cheng, has acquired some 1.07 million Ekovest Bhd shares in the open market.

The acquisition of the shares increased LSHH's stake in the group to 135.7 million shares, equivalent to a 5.033% equity stake. LSHH is currently the third largest shareholder of Ekovest.

Accordingly, the acquisition raised the indirect interests of Keng Cheng, Datuk Lim Keng Guan, Lim Pak Lian and Lim Keng Hun to 5.033%, by virtue of their family ties.

Tan Sri Lim Kang Hoo, the chairman of Ekovest and uncle to Keng Cheng, is the largest shareholder of the group with a total stake of 19.75%, followed by Ekovest Holdings Sdn Bhd (11.05%).

Ekovest's share price fell 0.5 sen or 1% to 49.5 sen, giving a market capitalisation of RM1.33 billion.

S Kanagaraju