Markets
Panpages’ substantial shareholders cut stakes
Johnny Loh | 21 Apr 2017 00:00
Panpages Bhd’s second and fourth largest shareholders, Lau Kok Fui and Teh Chai Leng, have divested a total of 20 million shares or a 8.28% stake in the company.

Filings with Bursa Malaysia on April 20 reveal that Lau and Teh sold eight million shares (3.31% stake) and 12 million shares (4.97% stake) respectively. Post-disposal, Lau trimmed his stake to 9.06% from 12.37% while Teh had his stake reduced to 0.95% from 5.92%.

Subsequently, Lau becomes the third largest shareholder of the company while Teh ceased to be a substantial shareholder of the company which was formerly known as CBSA Bhd. Lau is also the non-executive director of Panpages and the Taiwan-based regional director of General Electric Company.

Currently, the largest shareholder of Panpages is its group managing director Tan Tian Sin with a 23.77% stake. The company is involved in developing business platforms as well as providing advertisement and marketing services through online local business platforms and print directories, among others. Panpages closed at 34 sen on April 20.