Media Outlet: Sparrow Publishing House
Wednesday, 17 June 2020
Rex ceases to be substantial shareholder of Hwa Tai
Rex Industry Berhad is a leading manufacturer and exporter of halal canned products, frozen food and beverages in Malaysia. Rex is its established trademark. The company has operations in Indonesia through PT Rex Canning, a manufacturer of canned processed seafood principally for export to the USA and European Union. The company is listed on the Main Board of Bursa Malaysia. The Group registered a turnover of RM136.61 million for its financial year ended 30 June 2019 and a pre-tax loss of RM14.3million. Rex Industry was a substantial shareholder (5.61%) in listed biscuit manufacturer, Hwa Tai Industries Berhad (31 March 2019) until it disposed of its shares in January 2020 and filed notification of cessation to be a substantial shareholder.
The controlling shareholder of Rex Industry Berhad is Daiman Taipan Sdn Bhd with a stake of 22.61% as at 4 October 2019. Darmendran Kunaretnam, the Group Managing Director, and Chee Cheng Chun (Director of Rex Industry Berhad) are deemed interested in Daiman Taipan.