US-based Caravan Capital emerges as substantial shareholder of ARB

28 Apr 2020 / 23:01 H.

PETALING JAYA: Caravan Capital Management LLC, a US-based independent investment management firm, has emerged as a substantial shareholder of ARB Bhd after acquiring 18.5 million shares on the open market, equivalent to a 6.3% stake.

ARB CEO Datuk Larry Liew Kok Leong said having Caravan Capital presented the group with a unique opportunity to strengthen its presence in the global market.

“We are hopeful that we will be able to grow and continue to further unlock the value of our business and to deliver earnings growth to our shareholders.

“I am positively confident that the group will continue to progress and will see prospects in our new venture into the IoT and the ERP, as we acknowledge the new wave of technology impacting the young and mature industries alike,” he said.

He noted that attracting strategic investments from professionally managed long-term investors is crucial for any company aiming to become a market leader.

“Ensuring an appropriate balance between retail and professional investors will continue to be one of the ways we seek to transform ARB into a fully mature IT software & platform provider,” Liew added.

Caravan Capital specialises in frontier and emerging equity markets with more than 50 years of experience. It manages investments of about US$70 million (RM305 million) in institutional accounts and funds for institutional clients in emerging and small developed equity markets.

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