KUALA LUMPUR (May 31): Petaling Tin Bhd's largest shareholder Tan Sri Dr Chen Lip Keong has launched a takeover of the loss-making property development company for RM13.83 million or 40 sen per share.
Chen, 70, now controls 90.002% or 311.25 million of Petaling Tin shares after acquiring 24.28 million shares today and is seeking to undertake an unconditional voluntary takeover offer to acquire the remaining 34.58 million shares or a 9.998% stake.