KUALA LUMPUR (April 5): Businesswoman Datuk Kamisah Johan has become a substantial shareholder of Gabungan AQRS Bhd (GBG) after acquiring the entire 49.34 million shares, or a 9.09% stake, in the group offered for sale by way of private placement.

GBG, in a statement today, said Kamisah, 44, is a self-made entrepreneur and has more than a decade of experience in the property development sector.

She is the founder and executive chairman of Rembawang Holdings Sdn Bhd, whose flagship residential development project is Teringin @ Sri Ukay.

GBG chief executive officer Datuk Azizan Jaafar said that with Kamisah's acquisition of the 9.09% stake, bumiputera shareholders control 48.92% of the company.

"We value Datuk Kamisah's acknowledgement on GBG's value and look forward towards the strategic alliance that would create new opportunities for both our construction and property development divisions," he said.

Kamisah said: "I am pleased to be part of GBG and am committed to being a long-term strategic investor of the company. I see massive potential in GBG, particularly in the current businesses within its construction and property development divisions."

On Feb 25, GBG announced that it was conducting a private placement to raise RM25.38 million through the issuance of 49.34 million shares for its construction and property development projects.

Shares in GBG closed 8.59% or 5.5 sen higher at 69.5 sen today, valuing the group at RM378.04 million. The counter saw 18.32 million shares traded.