Thursday 28 Mar 2024
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KUALA LUMPUR (June 28): Serba Dinamik Holdings Bhd founder and group CEO Datuk Dr Mohd Abdul Karim Abdullah has been appointed as executive deputy chairman of Kumpulan Powernet Bhd effective immediately.

In a filing with Bursa Malaysia today, Kumpulan Powernet, which is involved in manufacturing of warp knitted fabric and property development, said Abdul Karim, 54, holds a 20.04% stake in the group.

Kumpulan Powernet saw the emergence of Abdul Karim as a substantial shareholder on June 20 when he acquired 15.26 million shares or a 20.04% stake via an off market transaction.

The group also announced the appointment of Mustakim Mat Nun, 46, as its group managing director.

Mustakim, who owns 10.18% of Kumpulan Powernet shares, is currently CEO of BEWG (M) Sdn Bhd. He was also assistant vice-president of investment banking division at Elaf Bank B.S.C. (C) Bahrain from 2009 to 2011.

Kumpulan Powernet shares closed up 2.5 sen or 3.18% at 81 sen today, with 537,300 shares done, bringing a market capitalisation of RM61.68 million.

    

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