KUALA LUMPUR: ECO WORLD Development Bhd chairman Tan Sri Liew Kee Sin acquired a block of 276.98 million shares from his son Liew Tian Xiong in an off-market deal on Tuesday. Filings with Bursa Malaysia showed Liew acquired the shares from his son, Tian Xiong, who is an executive director, “for family estate planning”. The shares accounted for a 9.40% stake based on its shares out of 2.94 billion shares. After the disposal, Tian Xiong's direct stake was reduced to 7.66% or 225.78 million shares. This comprises of the 9.40% stake acquired from his son and his indirect stake of 5.77% or 170 million shares.

Source: The Star October 22, 2019 08:15 UTC