Chin Well Major Shareholder Ups Stake with Purchase of 21.5m Shares

Chin Well Holdings Bhd’s managing director Tsai Yung Chuan saw his indirect stake increase to 58.12% following the purchase of 21.52 million shares by its major shareholder Benua Handal Sdn Bhd. A filing with Bursa Malaysia on Monday showed Benua Handal, in which he is deemed interest, bought the shares at RM1.40 each in an off-market transaction on Sept 19. After the recent purchase, the
shareholding was increased to 158.40 million shares or 58.12%.

Tsai, a Taiwanese, was appointed to the board of Chin Well on March 2, 1999 and he is one of the founders of the group. He graduated with a certificate in electrical engineering from Lienho Junior College of Technology in Taiwan in 1975. He started his career as a general manager by joining his family business, Jinn Her Enterprise Co. Ltd., a factory manufacturing fasteners in 1980. He embarked on expanding to Malaysia during his visit in 1988.