Annica Holdings increases shareholding in subsidiary

Felicia Tan
Felicia Tan5/24/2021 9:24 PM GMT+08  • 2 min read
Annica Holdings increases shareholding in subsidiary
Renosun International is in the business of providing energy-efficient services and procuring and other services.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

Annica Holdings has increased its shareholding interest in its 51%-owned indirect subsidiary, Renosun International to 100%, through an acquisition by its wholly-owned subsidiary, Cahya Suria Energy (CSE).

On May 24, CSE acquired the remaining 49% it does not own, from Renosun (KL) Sdn. Bhd. The consideration payable by CSE is RM4,900 ($1,575), in cash, and has been paid in full.

Following the acquisition, Renosun International has become a wholly-owned subsidiary of Annica Holdings. Its managing director, Looi Kok Soon, has also tendered his resignation with immediate effect, as he was the nominated director of Renosun (KL) Sdn. Bhd.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.