Posted by buffet88 > 2014-10-08 09:14 | Report Abuse

Hap Seng Industries Services Sdn Bhd, controlled by Tan Sri Lau had on Oct 3 acquired 51.248 million shares (18.47%) stake in Borneo Oil. 36.246 million shares were purchased thru private placement, while the remaining 15 million were bought through direct business transaction. Market rumors indicate a short to medium target price of RM1 for Borneo Oil.

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