KUALA LUMPUR (Feb 22): Investor Koon Yew Yin, a philanthropist who is well known for his good stock pick, has emerged as a substantial shareholder of Jaks Resources Bhd, after he has bought 23.88 million shares or a 5.45% stake in the company. According to a filing with Bursa Malaysia today, Koon bought the shares last Thursday. Jaks Resources has commenced the construction of a power plant, which it will operate for 25 years, in Hai Duong Province, Vietnam. Revenue expanded 83.2% to RM209.12 million from RM114.15 million, mainly contributed by construction division — primarily from the Vietnam engineering, procurement and construction revenue. Jaks Resources closed unchanged at RM1.31 today, with 5.28 million shares traded, for a market capitalisation of RM574.25 million.

Source: The Edge Markets February 22, 2017 13:07 UTC