Borneo - second largest shareholder reduce stake

Kuching based Borneo Oil Bhd saw its second largest shareholder Datuk Freddy Lim reducing his stake in the company. On June 17 2013, he disposed 9.14 million shares at 55 sen per share. Freddy Lim who is also CEO of Kretam Holdings Bhd, remains a substantial shareholder of the company following with transaction, with a direct interest of 5.38% remaining.

On June 18 2013, Freddy Lim also increased his stake in Kretam to 50.27%.

Freddy Lim and his brother Andrew Lim are well known entrepreneurs in the state, with the latter being the CEO and controlling shareholder of timber company PriceWorth Intl Bhd.

Datuk Freedy Lim Nyuk Sang also emerged as a new substantial shareholder in Destini when he purchased some 17 million shares on Oct 9 2013 gaining a 6.86% stake in the company.