Chin Boon Long, Ingenuity Solutions Bhd's substantial shareholder, has decided to hold on to his shares in the group for at least two years, due to his vision to grow his company, 1Utopia Bhd, together with the group.

"Thanks, but no thanks," was Chin's answer to Ninetology Marketing Sdn Bhd's offer to acquire his shares, adding that he would seek board representation in Ingenuity Solutions.

Chin, who is also the managing director for 1Utopia Bhd, called a press conference under his own "personal capacity" in response to the offer he received for his shares in Ingenuity Solutions.

Ace Market-listed Ingenuity Solutions has been in the spotlight in the past few weeks following Ninetology Marketing's proposed takeover of 39.44 per cent stake in the company at 55 sen per share.

Chin and his wife owned 29.15 per cent stake in Ingenuity Solutions. The other major shareholders of Ingenuity Solutions are Firstwide Success Sdn Bhd, Landasan Simfoni Sdn Bhd and Titanium Hallmark Sdn Bhd. -- Bernama