KUALA LUMPUR (Oct 24): Two former top officials of GIIB Holdings Bhd, namely former executive director Wong Ping Kiong and former CEO Tai Boon Wee, were on Tuesday discharged and acquitted by the High Court of charges related to the furnishing of fake documents to the company’s auditor Grant Thornton Malaysia PLT over the sale of RM2.95 million worth of machinery that allegedly did not exist.
KUALA LUMPUR: GIIB Holdings Bhd’s substantial shareholder, HAGF Investment (I) Pte Ltd, a wholly-owned subsidiary of Hildrics Asia Growth Fund I (Hildrics), increased its equity stake in the group from 8.2% to 16.6% after subscribing to the entire tranche of the group’s private placement, making them the single largest shareholder of GIIB.
In a statement, GIIB said the placement shares represented 10% of the group’s total issued shares prior to the placement exercise.
Hildrics is a Singapore based private equity fund managed by Hildrics Capital Pte Ltd, which was founded in 2021 by Choo Kee Siong and Wee Teng Chuen.
Hildrics Capital primarily focuses on direct investments into mid-sized companies with high growth prospects in South-East Asia. Hildrics first emerged as a substantial shareholder of GIIB back in June 2023.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
FaizalHamzah
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Posted by FaizalHamzah > 2023-06-26 18:17 | Report Abuse
Will test 0.06??