SAGAJUTA (Sabah) Sdn Bhd's Datuk Raymond Chan Boon Siew says he has no plans to exit Harvest Court Industries Bhd, assuring continuity of the company's contract with Sagajuta.
"A contract is a contract ... if anything the question should be, I will raise my stake in Harvest Court," Chan said when asked what would happen to the contract with Sagajuta should Chan exit the company.
He went on to say he is looking to raise his stake in the company, but was noncommittal on the quantum of the increase.
Chan has a 15.94 per cent stake in Harvest Court currently.
Shareholders yesterday approved the company's plan to diversify into the construction business.
The projects were awarded by Sagajuta and 1Green Enviro Sdn Bhd to Harvest Court and are worth RM808.10 million.
Sagajuta, 1Green Enviro and Harvest Court share a common shareholder in Chan.
"It was unanimous, we thought there would be some opposition but there was none," Chan said of the shareholders' votes for its resolutions.
Harvest Court has traditionally been in the manufacturing and marketing of timber doors.
Chan has been in the limelight for his recent buying spree, choosing little known companies.
Companies such as Ariantec Global, Metronic Global Bhd, Naim Indah Corp Bhd and Harvest Court were all issued Unusual Market Activity queries by Bursa Malaysia Bhd following his entry .
Harvest Court fell 1.5 sen to close the day at 50 sen yesterday.
By Presenna Nambiar, btimes.com.my
No comments:
Post a Comment