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 Takaso chairman raises stake through Nextplus Fortune Sdn Bhd

TAKASO (7071) TAKASO RESOURCES BHD


KUALA LUMPUR (Nov 4): Takaso Resources Bhd ( Financial Dashboard) has seen its executive chairman Tee Tze Chern buying more shares in the company.

He bought 4.54 million shares or 0.88% stake today, through Nexplus Fortune Sdn Bhd, a company he deemed interest.

In the filing to Bursa Malaysia today, the company also revealed that Tee disposed 800,000 shares or 0.1% direct stake.

Tee’s shareholding raised to 18.1%, after the latest transactions today.

Takaso closed unchanged today at 61 sen with 2.56 million shares changing hands, giving it a market capitalization of RM106.43 million.

The group share prices have rallied since August, from 25 sen. The company’s board has proposed to buy Dynavance Construction Sdn Bhd, to diversify into the construction business.

Its core business of manufacturing baby products and condoms, however, has incurred losses of RM5.9 million in financial year 2014 (FY14), and RM3.6 million in FY13. - The Edge
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