Choo Meng’s sister, Michelle Ong Tzu Chuen, also owned 2.69 million shares or a 1.33% stake in Apex Equity. Jacky Pang and associatesInterestingly, Sanichi’s Pang owned 1.63 million shares or a 0.81% stake in Apex Equity. The regulator claimed Apex Securities contravened the securities laws “as ACE has become a controller of Apex Securities, when ACE is not a fit and proper person” to do so. Following ACE's divestment of shares, a big block of Apex Equity shares was made available in the market. The new and notable Apex Equity shareholders, namely the Hextar family members and their business associates, Pang and his associates, as well as Proven Venture Capital, controlled a total of 18.58% of Apex Equity as at end March.

Source: The Edge Markets April 29, 2023 09:59 UTC