A new controlling shareholder at Transit-Mixed Concrete is making a mandatory offer for the remaining shares of the company he does not yet own.

Lee Sai Sing, executive director of Maxi-Harvest Group, on Feb 19 bought over 71.36% of the company from existing shareholders at 14 cents per share, or $6.95 million.

Transit-Mixed Concrete last traded at 8 cents before a trading halt was called on Feb 18.

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