MD buys 10 million YHI shares at 36 cents each
RICHARD Tay, managing director of alloy wheels and tyre maker and distributor YHI International, yesterday raised his stake in the company. He bought 10 million YHI shares at 36 cents each on the open market, increasing his direct interest in the company from 0.1 per cent previously to 1.8 per cent. His 61.8 per cent deemed interest in the company remains unchanged. This comprises 361.4 million shares held by YHI Holdings Pte Ltd.
In a recent interview with BT, Mr Tay said YHI International currently derives about 70 per cent of its revenue from distribution and 30 per cent from manufacturing. But he expects this to change in the future, with manufacturing contributing a significantly larger proportion.
《The Business Times》