Calvin Lau gains substantial stake in Solution Group as Freddy Lim exits list
Lavin Group’s holding reached 10.06% after a share purchase on Oct 22, while Lim sold a 5.5% stake on the same date.
Businessman Calvin Lau Chuen Yien has become a substantial shareholder of Solution Group Bhd through Lavin Group Sdn Bhd, which raised its holding to 10.06%. Separately, Datuk Lim Nyuk Sang @ Freddy Lim, chief executive officer of Kretam Holdings Bhd, ceased to be a substantial shareholder.
A bourse filing by Solution Group showed that Lavin Group bought 28.42 million shares through a direct business transaction on Oct 22. The purchase represented a 5.85% stake and brought Lau’s deemed holding to 48.91 million shares. The price paid was not disclosed.
Lim sold 26.72 million shares on the same date, representing a 5.5% stake. His disposal comprised two tranches: 24.27 million shares and 2.45 million shares. He had held a 5.52% stake in April 2024.
Solution Group’s annual report recorded Lavin Group’s holding at 12 million shares, or 2.48%, as at April 8. Other substantial shareholders include executive chairman Lim Yong Hew, with 13.98%, and Cansino Biologics (Hong Kong) Ltd, with 9.08%.
The engineering solutions provider’s shares ended Oct 26 at eight sen, unchanged, valuing the company at RM38.88 million.
