Harn Len owner sells 5m shares
F Saad | 08 Sep 2017 00:30
The founding family of Harn Len Corp Bhd has pared down its stake in the company with the disposal of five million shares (2.7%) by Low Nam Hui & Sons Sdn Bhd, a filing to Bursa Malaysia on Sept 7 reveals.

Transacted in a direct deal at 80 sen per share, the disposal netted RM4 mil. Following the recent disposal, the Low family has a combined stake of 66.7% in Harn Len through various holdings.

Following the demise of the company’s founder and executive chairman Tan Sri Low Nam Hui in February 2015, Harn Len had announced several changes in its board, including the appointment of his son, Low Quek Kiong, as managing director.

The company is principally involved in the operation of oil palm plantations and palm oil milling, in addition to operating a hotel in Johor. For its second quarter ended June 30, Harn Len posted a net profit of RM190,000 from a net loss of RM6.43 mil in the previous year’s corresponding quarter.

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