PETALING JAYA: Information communications technology (ICT) company Privasia Technology Bhd
has been seeing a slew of changes in its shareholding structure and board composition, suggesting that some developments could be unfolding within the group.
On April 21, Bursa Malaysia filings showed that Destini Bhd president and CEO Datuk Rozabil Abdul Rahman bought two million shares in Privasia from the open market giving him a total 5.25% stake in the company.
Likewise, just last week, there were three new appointments to Privasia’s board of directors namely former CEO of Malaysian Investment Development Authority Datuk Azman Mahmud, Leong Kah Chern who is the former group CEO of information technology (IT)-related firm Cuscapi Bhd and Rachel Lau Jean Mei who is the managing partner and co-founder of RHL Ventures Sdn Bhd, a South-East-Asian-based investment firm.
According to Bursa Malaysia filings, RHL “invests intergenerational capital in revolutionary entrepreneurs looking to disrupt existing ways of doing business and making an impact to society” while Leong is said to have at the point of his tenure at Cuscapi, help to turn around the loss-making Cuscapi “into a profit-making one within the first year of management.”
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