Hong Leong Asia grows stake in Tasek Corp

Hon Leong Asia’s wholly-owned subsidiary, Ridge Star, has acquired 30,700 shares of Malaysia-based Tasek Corp at a value of around US$57,964, according to The Straits Times.

Following this development, Hong Leong Asia now owns a 92.4 per cent stake in the company.

Last month, Hong Leong Asia had submitted an unconditional voluntary takeover offer for the remaining shares of Tasek at MYR5.80 (US$1.36) per ordinary and preference share.