Yee emerges as substantial shareholder of Milux

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KUALA LUMPUR: Businessman Yee Ying Sung has emerged as a substantial shareholder of household appliances distributor Milux Corp Bhd, holding three million shares or a 5.51% direct stake in the company.

In a filing with Bursa Malaysia yesterday, Milux said Yee is now the company’s substantial shareholder after the 37-year-old bought 1.223 million shares last Friday.

Yee is the managing director of JS Group, a family-owned property and construction company based in Melaka.

According to JS Group’s website, Yee returned to Malaysia in 2003 after being in Australia for almost a decade.

He is a member of the Real Estate Housing Development Association (Rehda) committee board and editor of Rehda’s monthly property magazine, Melaka Branch.

Milux’s share price dropped one sen or 0.8% to close at RM1.24 yesterday, with 159, 000 shares traded, giving it a market capitalisation of RM67.5 million.

This article first appeared in The Edge Financial Daily, on December 5, 2014.