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Serba Dinamik co-founder Awang Daud now substantial shareholder of i-Stone

TheStar Wed, Aug 12, 2020 01:51pm - 2 months ago

KUALA LUMPUR: Businessman Datuk Awang Daud Awang Putera has acquired a 26.98 per cent stake in I-Stone Group Bhd, making him a substantial shareholder in the manufacturing automation solutions provider.

Awang Daud, who is Serba Dinamik Holdings Bhd co-founder and Minetech Resources Bhd executive chairman, as well as a major shareholder, acquired 32.96 million shares in i-Stone from One United Equity Sdn Bhd.

In a statement today, i-Stone managing director Rebecca Tee said the company is looking forward to working with Awang Daud, who brings with him substantial experience through his own business interests in technology, manufacturing, as well as oil and gas.

"We see many opportunities through tie-ups and joint ventures with him," she said.

Meanwhile, Awang Daud said investing into i-Stone is a long-term business strategy to leverage the technologies of Industry 4.0 such as automation and big data with new inroads to be made through jointly marketing its products not just among larger companies but also mid-sized ones.

He sees i-Stone’s high levels of product customisation and technical sophistication as providing new avenues for tapping into the food and beverage, oil and gas, as well as automotive industries besides the electrical and electronics industry.

Awang Daud is also chairman of ADAP 4orty Global Sdn Bhd, a company with interests in quarrying, retail, food and beverage, oil and gas, technology and realty.

Following the share-disposal exercise, One Equity ceased to be substantial shareholders, while i-Stone’s Lee and group executive director Chan Kok San, remained as substantial shareholders with management and operational duties. - Bernama

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