Markets
Tiong emerges as Mercury's largest shareholder
Johnny Loh | 07 Jul 2017 00:30
Mercury Industries Bhd’s executive director Datuk Tiong Kwing Hee has emerged as the company’s largest shareholder after acquiring two million shares or a 4.98% stake in the company, a filing with Bursa Malaysia on July 6 reveals.

Post-acquisition, Tiong raised his stake in Mercury Industries to 11.92% from 6.95%. He was previously the company’s second largest shareholder.

Beside Mercury Industries, Tiong is also the single largest shareholder and group CEO of EcoFirst Consolidated Bhd with a 17.35% stake as well as the single largest shareholder of Meda Inc Bhd with a 17.19% stake.

Mercury Industries was previously involved in the manufacturing and trading of automotive paints. In November, it sold its automotive paints division, leaving only the construction division as a source of revenue.

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