With the acquisition, the number of shares held via Lian Yu increased to nearly 355.2 million shares or 72.65%, up from 72.57% previously.
Tan Kwee Chai, executive chairman of LY Corp, a Malaysia-based furniture maker, has increased his stake in the company.
On Nov 5, Tan, via an entity called Lian Yu Holdings which he controls, acquired 382,500 shares for $49,725.00 or 13 cents each.
