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Eddie Ong emerges as largest shareholder of Complete Logistic

KUALA LUMPUR (March 9): Businessman Datuk Eddie Ong Choo Meng has emerged as the largest shareholder of Complete Logistic Services Bhd after acquiring 29.18% or 37.45 million shares from Dolphin Assets Sdn Bhd in an off-market transaction today, the group said in a filing exchange.

Notably, Ong is also a major shareholder of listed companies such as Hextar Global Bhd, SCH Group Bhd, Rubberex Corp (M) Bhd, SWS Capital Bhd and more recently Opcom Holdings Bhd.

Meanwhile, according to a Bursa Malaysia filing yesterday, Ong's representative Teh Li King was appointed to Complete Logistic's board as a non-independent and non-executive director effective March 8, 2021.

Teh, 42, is currently the group chief corporate officer of Hextar Group of Companies. He is also a director of furniture and plasticware maker SWS Capital, a non-independent and non-executive director of Opcom while concurrently serving as a director of several private limited companies.

Complete Logistic also announced the resignation of its executive director Leon Law Li Yion, 28, citing personal reasons.

Just before his resignation, Law disposed of a total of 51.33 million shares in the group held directly and indirectly via Dolphin Assets, leaving his current holding to merely 5.15% or 6.6 million shares.

Shares of Complete Logistic ended 22 sen or 13.41% lower at RM1.42, valuing the logistics company at RM183 million.

http://www.theedgemarkets.com/article/eddie-ong-emerges-largest-shareholder-complete-logistic

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