KUALA LUMPUR: APB Resources Bhd is entering a new phase of growth following a management buyout led by three of its senior executives, who have also emerged as substantial shareholders of the company.
Bursa Malaysia filings showed the acquisition was carried out via Strategic A Holdings Sdn Bhd, with Ong Kok Wah holding 34.63 million shares or 27.89 per cent, while Lee Lisa and Chan Fook Wah each hold 34.36 million shares, representing a 27.68 per cent stake.
Chan also owns 62,544 shares directly. The transactions were dated Aug 29 and disclosed on Sept 2.
APB said the move underscores the management team’s long-term commitment to the company.
Ong, appointed as executive director and chief executive officer on Aug 29, has served the group for more than 30 years.
He began his career as a quality control engineer in 1993 before becoming general manager of Amalgamated Metal Corporation (M) Sdn Bhd (AMC), a wholly owned subsidiary.
He is joined by Lee, the group’s financial controller and a chartered accountant with experience in audit, treasury management and financial reporting, and Chan, deputy general manager of AMC, who brings over 20 years of expertise in project execution and operations.
APB said the trio combine operational know-how, financial discipline and strategic oversight. The management buyout ensures leadership continuity while aligning ownership with the executives directly steering the business, it added.
The company said the transition, anchored by the team’s deep experience and vision, bodes well for APB’s next phase of growth and its stakeholders.
© New Straits Times Press (M) Bhd
