Prosper Palm Oil Mill Sdn Bhd acquired 86,500 shares in plantation company United Malacca Bhd, nudging its shareholding to 24.43 million shares or 11.64%. Following the acquisition, the Tee family, which controls Prosper Palm Oil Mill, has a 22.3% shareholding in United Malacca.
The Tee family, via Prosper Trading Sdn Bhd, owns 23.73% in another plantation outfit Far East Holdings Bhd. Far East’s largest shareholder is Perbadanan Kemajuan Pertanian Negeri Pahang, which has 25.18% equity interest.
At its close of RM5.01 last Tuesday, United Malacca had a market value of RM1.07 billion.