Posted by EliteBiz > 2022-06-22 01:56 | Report Abuse

Something is brewing at NWP Holdings with a new substantial shareholder. Quah Seik Lee is now a substantial shareholder of NWP Holdings with 8.7% stake following her acquisition of 20 million shares on 8 June from the open market. The market is excited because Quah Seik Lee is the wife of Bryan Loo, the man behind the success of TeaLive in Malaysia. Last year, Loob Holding Sdn Bhd, the holding company of TeaLive, sold a strategic stake of 30% to private equity firm, Creador. The Edge Malaysia reported that the price range from RM200 million to RM260 million. It is still uncertain if the acquisition by Quah is related to Bryan Loo’s entrepreneurial endeavour but given the huge sale to Creador, the power couple will have the resources to expand the company. To add to the speculation, NWP Holdings has incorporated a new wholly-owned subsidiary known as NWP Marines Sdn Bhd. The setup was to facilitate the expansion of the business activities of NWP Holdings and its subsidiaries. Whether these new developments will bear fruit for investors of NWP Holdings remain to be seen, but investors have responded with a rallying call. NWP Holdings’ share price rebounded to 28.5 sen as of Monday (20 June 2022), from 22 sen in early June. This represents an increase of 29.5% in its share price over the last three weeks. Given the positive momentum in NWP Holdings’ share price recently, it is likely that investors are more confident to invest in the company following the boardroom tussles at the beginning of this year.