The Employees Provident Fund (EPF) Board has emerged as a substantial shareholder in plastic moulding company, SKP Resources Bhd with a 5% stake.

A filing with Bursa Malaysia on Friday showed it was triggered after the EPF bought 155,200 shares on May 3.

The transaction saw its shareholding rise to 5% or 56.353 million shares.

In September 2015, SKP Resources disclosed its five-year contract from its existing customer Dyson Ltd was worth RM600mil a year.

It told Bursa Malaysia that the tenure was for five years and valuing the contract at RM3bil.

The contract is for manufacturing Dyson’s cordless vacuum cleaners and it was scheduled to start in January 2016.

SKP, one of Dyson’s contract manufacturers in Malaysia, assembles a range of Dyson products, including upright vacuum cleaners, hand dryers and bladeless fans.

 

Source : thestar.com.my

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