Friday, 19 July 2013

Effendi Norwawi exits Encorp

Mohd Effendi Norwawi the former Minister of Agriculture, and Minister in the Prime Minister's Department heading the Economic Planning Unit - has sold off his 66.6 million shares representing 30.5% equity interest in developer Encorp Bhd, to the company's chief executive officer Yeoh Soo Ann and his partner Mohd Ibrahim Masrakin who is the chief operating officer of the company. While the acquisition seems like a management buyout, details such as the price of the transaction was were not available. (KiniBiz)

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