GIIB Holdings Berhad, a key player in rubber compound manufacturing, announced that Singapore-based Hildrics Capital Pte Ltd has increased its stake in the company, making it the largest shareholder.
GIIB’s Growth Continues
Through its subsidiary HAGF Investment (I) Pte. Ltd., Hildrics’ share has risen from 8.2% to 16.6% after subscribing to GIIB’s recent private placement.
This strategic increase followed Hildrics‘ initial investment in June 2023, demonstrating its continued confidence in GIIB’s growth and management. Choo Kee Siong, CEO of Hildrics, said, “We are pleased to be a long-term partner of GIIB and have seen the management team successfully turning around the Group over the last few quarters. We believe the Group has embarked on the right course, and our further commitment will support their continued expansion of the business.”
GIIB’s Chief Executive Officer Tai Qisheng said, “I am extremely humbled by the support from a reputable foreign institutional fund such as Hildrics. Our goals and visions have remained the same since the incorporation of our long-term partnership, and we strive to continue working together to elevate GIIB to a prosperous status. With capable management, clear strategy and direction, GIIB will uphold its commitment to its shareholders to grow its core business as a sustainable and responsible rubber compound manufacturer.”
