BETWEEN Dec 7 and 11, notable filings of companies listed on Bursa Malaysia included one by
Chemical Company of Malaysia Bhd (CCM), where Permodalan Nasional Bhd ceased to be a shareholder after disposing of 76.45 million shares in a share sale.
This came on the heels of an offer by Batu Kawan Bhd to buy all the shares in CCM it did not already own at RM3.10 per share. Subsequently, Batu Kawan emerged as the largest shareholder in CCM with a 59.73% stake, from 3.41% previously.
Boardroom changes followed, starting with the resignation of chairman Datuk Idris Kechot. Non-independent non-executive directors Amizar Mizuar and Zainal Abidin Jamal followed suit. Tan Chee Heng, Dr Tunku Alina Raja Muhd Alias and Datuk Lee Hau Hian were appointed as non-independent non-executive directors.