Neo Kah Kiat, chairman and CEO of food caterer Neo Group, is now a substantial shareholder of Asiatic Group (Holdings). According to a series of filings made on Jan 8, Neo now holds 194 million Asiatic shares, equivalent to a stake of 12.46%.

According to filings, Neo bought the shares using an entity called Twinkle Investment, which is jointly held by him and his wife Liew Oi Peng, who is also an executive director at Neo Group. The shares were bought in tranches of 20 million, 80 million and 94 million shares, all via married deals.

The identity of the sellers were not listed in the Twinkle Investment filings but in separate filings, it seems that the Neos bought most of the shares from long-time Asiatic shareholders Bobby Lim Chye Huat and his son Bernard Lim Boon Hock.

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