Kuang Ming Investments, the family office of Far East Organization’s CEO Philip Ng, has bought 253,000 shares in Jumbo on the open market for $68,310 or 27 cents per share.
According to Jumbo’s filing, both Tan Kim Choo, wife of Far East Organization’s late founder Ng Teng Fong, and their son Philip Ng Chee Tat, have more than a 20% stake in Kuang Ming.
The transaction, which took place on Dec 23, 2024, now brings Kuang Ming Investments’ stake in the food and beverage (F&B) group to 9% from 8.96% previously.
For the FY2024 ended Sept 30, 2024, Jumbo reported earnings of $13.7 million, 6.5% lower y-o-y.
Shares in Jumbo closed at 27.5 cents on Jan 9.
