Friday 29 Mar 2024
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KUALA LUMPUR (July 20): Kuok Khoon Hong, the Singapore-based nephew of Malaysian billionaire Robert Kuok, has emerged as a substantial shareholder of Apex Healthcare Bhd, with an indirect 40.61% stake in the Melaka-based pharmaceutical company.

A filing with Bursa Malaysia today showed that Yanlord Perennial Investment (Singapore) Pte Ltd (Yanlord Perennial) had acquired a 33.5% of the total voting shares in United Engineers Ltd (UEL) on July 13. As a result, Yanlord Perennial has a deemed interest in Apex through the interest held by UE UMC Pte Ltd, a wholly-owned subsidiary of UEL, which in turn holds a 30% interest in Apex Pharmacy Holdings Sdn Bhd which directly holds the 47.57 million shares or the 40.61% stake in Apex Healthcare Bhd.

Yanlord Perennial is a consortium owned by Yanlord Land Group Ltd, Perennial Real Estate Holdings Ltd and its two sponsors  — Khoon Hong and Wilmar International Ltd, and an investor. Khoon Hong is the co-founder, chairman and chief executive officer of Wilmar International.

Apex shares closed at RM4.70 on July 19, with a market capitalisation of RM550.59 million.

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