Avarga’s executive chairman is Tong Kooi Ong, who is also chairman of The Edge Media Group, the parent company of the publisher of The Edge Singapore. Ian is also an executive director of The Edge Media Group.
Shares of Avarga, typically thinly-traded, roared into life on Monday, Aug 24, surging as much as 46.1% on heavy volume, drawing the market’s attention to what might have caused the sudden flurry at the investment holding company with interests in paper manufacturing, power generation and building materials distribution.
In an interview with The Edge Singapore, Ian Tong, CEO of Avarga, says that the company is seeing growing demand for its paper manufacturing business and is mulling over ways to fund an expansion in production capacity. In addition, the company is exploring the possible sale of its power plant in Myanmar too. However, investors should take note that there is no certainty of completion, he adds.
