Liem ups Jurong stake

Tue, 01 Apr 1997 | Source: REUTERS

SINGAPORE (Reuter): Indonesian tycoon Liem Sioe Liong has raised his stake in Singapore's Jurong Cement Ltd to 20.42 percent, Jurong said yesterday.

In a notice to the Stock Exchange on changes to the company's substantial shareholding, it said Kindo Pte Ltd bought 69,000 shares at Singapore $6.90 on March 25 1997.

This brought the number of Jurong Cement shares belonging to Kindo to just over nine million shares amounting to 20.42 percent of the company.

Prior to this latest purchase, Kindo had 20.26 percent of the company.

Liem's privately held Singapore incorporated KPM Private Ltd is the holding company for Kindo.

The other major shareholder of Jurong Cement is Malaysia's Tasek Cement Bhd controlled by the Whang family.

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