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apple developer account:Bintai Kinden has new substantial shareholder

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KUALA LUMPUR: Chan Kok San, former co-founder and executive director of Aimflex Bhd (formerly I-Stone Group Bhd) has emerged as a substantial shareholder of Bintai Kinden Corp Bhd with a 6.55% stake.

Chan emerged as a substantial shareholder in Bintai Kinden after acquiring 25 million shares, or 6.55% equity interest in the company via an off market transaction at 50 sen per share on Tuesday.

Executive vice chairman Ibrahim Othman said: “Chan has an impressive record and solid reputation in the electrical and electronics (E&E) industry and we believe Bintai Kinden will be benefiting a lot with his great access to key businesses ventures and opening opportunities for further synergistic collaborations.”

He said Bintai Kinden was on a business transformation plan to reposition its business activities to create a new source of income in view of fluctuation seen in its core mechanical and electrical (M&E) engineering business.

Chan has more than 18 years of experience in the E&E industry, specialising in specialised automation machines. He was one of the co-founders of I-Stone in 2007 and acted as the executive director before resigning from the board on Dec 31, 2020.

Meanwhile, Ibrahim had recently acquired 500,000 Bintai Kinden shares from the open market at 47 sen per share.

“Investing in Bintai Kinden is a long-term business strategy as I see value in the company. There is a huge potential as the company announced its venture into healthcare last year and further diversifying its portfolio into mixed property development and management projects, which is focused on providing comprehensive healthcare and wellness services as well as assisted living,” Ibrahim said.


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