Low Yi Ngo Acquires 9% Stake in Avillion Bhd

Indonesian coal tycoon's son, Low Yi Ngo, has acquired a 9% stake in Avillion Bhd through open market transactions. The company posted a net loss of RM6.7mil for FY25 and received a going concern warning from its external auditor. The emergence of Lim Chai Hock as the second-largest shareholder with a 15% stake was also announced last week.

KUALA LUMPUR: Avillion Bhd has announced that Low Yi Ngo, son of Indonesian coal billionaire Low Tuck Kwong of PT Bayan Resources Tbk, has acquired a 9% stake in the company. The acquisition, made through open market transactions, saw Low Yi Ngo buy 132.13 million shares on August 20, 2025, at an average price of 7 sen per share [1].

This move comes on the heels of Avillion's recent private placement, where Lim Chai Hock, a Bayan Resources executive, became the company's second-largest shareholder with a 15% stake [2]. The private placement raised RM11.32 million, which Avillion plans to use for refurbishing its flagship hotel in Port Dickson, repaying borrowings, and for working capital.

Despite the new investments, Avillion's financial health remains concerning. The company posted a net loss of RM6.7 million for the financial year ended March 31, 2025, and its external auditor, Baker Tilly Monteiro Heng PLT, has flagged uncertainty over the group's ability to continue as a going concern. The audited financial statements for FY25 showed net losses of RM8.84 million and RM20.63 million, and recorded negative cash and cash equivalents of RM17.17 million and RM8.96 million, respectively [1].

Shares in Avillion settled at 7 sen on Monday, valuing the group at RM99.10 million. The counter has fallen over 55% year-to-date.

References:
[1] https://www.thestar.com.my/business/business-news/2025/08/25/indonesian-coal-tycoons-son-acquires-9-of-avillion-via-open-market
[2] https://theedgemalaysia.com/node/768031