FRB-WA may Attract Interest on Insas and Ho Hup Connections

Written by Editor

Formis Resources Berhad (FRB) announced today that Insas Berhad has emerged as a substantial shareholder with 12.1 million shares or 6.5% in the company.  This may have come from the part of 30 million shares of FRB done off market yesterday at 85 sen.  At the same time, Insas also extended term loan facilities of RM75 million via Insas Credit & Leasing Leasing Sdn Bhd to Ho Hup Construction Berhad, paving the way for Ho Hup to regularize itself out of PN17.  FRB bought more than 20% in Ho Hup at the end of last month.


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