KUALA LUMPUR (June 4): Wah Seong Corp Bhd group chief executive officer (CEO) Chan Cheu Leong has increased his stake in Handal Resources Bhd to 10.54%.
A filing to the exchange this evening showed Chan had acquired 200,000 shares on June 1, thus upping his stake in Handal to 16.83 million shares, representing a 10.54% stake.
Handal provides maintenance and services for the oil and gas sector.
In Handal’s annual report, Chan was listed as a shareholder as of March 31, 2018, with a 4.99% stake. Subsequently, he became a substantial shareholder in Handal on May 16.
The 67-year old Chan has been group CEO of Wah Seong since 2002, and has a 7.8% stake in the group.
Wah Seong is involved in the oil and gas, and renewable energy sectors.
Handal shares hit a two-and-half year high of 38.5 sen on May 25, 2018. Today, it closed unchanged from last Friday, at 37 sen, with a market capitalisation of RM58 million.