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German Investor Emerged as Frontken largest shareholder

Amidst the market weakness over the last few months, surface treatment specialist Frontken Corporation Berhad has possibly seen a change in control after Jorg Helmut Hohnloser, a German investor, acquired 119.75 million shares from Frontken Executive Chairman cum Managing Director Wong Hua Choon on 25th October. Hohnloser ended up with 172.5 million or 17.1% of the company after the latest acquisition.  Hohnloser’s stake is held under Kim Eng Securities Pte Ltd.  Wong, who was Frontken’s single largest shareholder with direct stake of 21.2% before the share sale, ended up with only 9.4% direct stake.  He still owns another 2.3% indirectly via Frontken Holdings Pte. Ltd.

 

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