KUALA LUMPUR (Jan 14): Property developer Platinum Victory Sdn Bhd's executive director Gan Yee Hin has emerged as a substantial shareholder of Red Ideas Holdings Bhd, the developer of the private community platform JaGaApp.

A bourse filing today shows Gan acquiring 8.42 million shares in the the LEAP Market-listed technology-based company via a direct business transaction, bringing his total shareholding to 13.42 million or a 12.78% stake. The seller of the 8.42 million shares was not known at the time of writing.

Red Ideas shares were not traded today. They last closed at 19 sen apiece, bringing it a market capitalisation of RM20 million.