Gamuda Naim Engineering and Construction Sdn Bhd announced a private placement of 64,999 common shares at a price of MYR 1 per share for gross proceeds of MYR 64,999 on August 18, 2016. The round included participation from new investor Gamuda Bhd (KLSE:GAMUDA). Pursuant to the transaction, the investor acquired a stake of 64.999999% in the company. Post the closing, the authorized and paid-up share capital of the company increased to MYR 5,000,000 and MYR 100,000 respectively.