Last week, CN Asia Corp Bhd announced the emergence of a new substantial shareholder, Woo Kim Siong, who has three million shares or a 5.46% equity interest in the company.
Many market watchers had been waiting to see who would eventually surface in CN Asia as there had been large blocks of shares crossing in off-market trades, and the company’s managing director and controlling shareholder Ho Cheng San had stepped down, as had his wife Angeline Chan Kit Fong, an executive director of the company.
This was followed by new appointments to the board, but there was still no indication of who had bought into CN Asia and taken over the reins.