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.
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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.

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