Hong Kong-based Wang Tak Co Ltd increased its shareholding in Padiberas Nasional Bhd (Bernas) according to filings to Bursa Malaysia yesterday.

According to the announcement, Wang Tak acquired 460,500 Bernas shares between March 24 and 28. Although no price was given for the shares, Bernas’ stock was trading around RM1.80 during that time period.

Wang Tak, which has slowly been increasing its stake in Bernas since early last year, now holds a 25.05% stake in the rice concessionaire. Wang Tak is wholly owned by Hong Kong-listed Lee Hing Development Ltd, whose core business is in share investment and dealing.

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