KUALA LUMPUR (March 3): Sin Heng Chan (Malaya) Bhd said today Choo Kin Choong had on Sunday (March 1) emerged as a substantial shareholder with direct and indirect stakes of 17.64% and 11.62% respectively in the oil palm plantation company.

Kin Choong, who is Sin Heng Chan managing director and major shareholder Datuk Choo Keng Weng's son, was also appointed as alternate director to Keng Weng with effect from Sunday, Sin Heng Chan said in separate Bursa Malaysia filings today.

Sin Heng Chan said Kin Choong's indirect or deemed interest in the company
is "held through Keng Weng, Macronet Sdn Bhd and Goldquest Properties Pty Ltd's (stakes) in Sin Heng Chan”.

"Kin Choong has been involved with the group's (Sin Heng Chan) operations in the palm oil, forest plantation and energy and facility management sectors during the past six years," Sin Heng Chan said.

Sin Heng Chan shares have not been traded so far today. At the stock's latest closing price of 30 sen, the company had a market capitalisation of RM39.56 million.