Kenyalang pares down Bintai stake
Johnny Loh | 04 Aug 2017 00:30
Bintai Kinden Corp Bhd’s fourth largest shareholder, Kenyalang Property Development Sdn Bhd, has ceased to be a substantial shareholder of the company. A filing with Bursa Malaysia on Aug 3 shows that Kenyalang Property disposed 6.5 million shares or 2.28% stake in the company.

Post-disposal, Kenyalang Property’s stake in Bintai Kinden was reduced to 3.08% from 5.36%, thus making it the fifth largest shareholder. Kenyalang Property Development Sdn Bhd is 66.67%-owned by Robert Ng (as of Dec 31), who also currently holds a 2.05% stake in Bintai Kinden.

Bintai Kinden is a provider of mechanical and electrical engineering services which include electrical, mechanical and power supply installation, instrumentation and building automation, and maintenance of electrical and mechanical systems.

For its Q4 ended March 31, the company’s net loss widened to RM13.48 mil from RM7.53 mil in the preceding year’s corresponding quarter.