APB Announces Entrance of Press Metal Co-Founder as Substantial Shareholder

SHAH ALAM, Malaysia, Jun 14, 2023 - ( JCN Newswire ) - APB Resources Berhad, a fabricator of design engineering equipment, today announced that Dato' Koon Poh Tat has emerged as a substantial shareholder in the Group with a direct 5.73% stake following the acquisition of 6.35 million shares.

The shares were acquired on 13 June 2023 from the open market. Dato Koon is a co-founder and Executive Director of Press Metal Aluminium Holdings Berhad, an integrated aluminium producer. He is also Executive Director of PMB Technology Berhad, a fabricator of aluminium facade systems for buildings.

At the same time, the Group is also pleased to announce the appointments of Dato Sri Abdul Rahim Jaafar as Chairman, Mr. Liaw Wei Gian as Executive Director and Mr. Chin Choon Wei as Executive Director.

Dato Sri Abdul Rahim retired from the Royal Malaysian Police in 2021 as Director of the Department of Internal Security and Public Order. He is a member of the Police Force Commission. He is also the Chairman of Artroniq Berhad.

Liaw is an Executive Director and Chief Executive Officer of Artroniq and Chin is Chief Financial Officer of Artroniq.

Dato' Koon said, "We are delighted to come onboard APB and look forward to working with the rest of the Board of Directors (BoD) as well as the entire team to bring more success to the Group. We see lots of opportunities that we can take advantage of that can enhance the performance of APB in the longer term."

Executive Director of APB, Mr. Chin Choon Wei said, "I am confident that the new members of APB's BoD will help guide the Group to expand its market presence as a fabricator of design engineering equipment. I note the outlook for the industry is improving as capital spending picks up from the chemicals, oil palm and power generation industries."

APB's share price as of today closes at 2.92sen, an increase of 29.78% compared to yesterday's 2.25sen.

APB Resources Bhd: 5568 [BURSA: APBB] [RIC: APBS:KL] [BBG: APBB:MK], https://www.apb-resources.com/