Max Gain, which is controlled by the Chiang family, has raised its stake in mobile phone supplier Balda (Bad Oeynhausen / Germany; www.balda.de) from 15.27% to 29.99%. The purchase price was not disclosed. The transaction involves shares that German bank Nord/LB (Hanover; www.nordlb.de) had held since October 2008, following the failure by a customer to pay for the shares the bank had acquired on its behalf.

According to reports, Dirk Eichelberger, Balda's CEO and sole member of the board of management, will head the company from the headquarters of the Asian holding company Balda Investment Singapore (BIS) in Singapore, and set up an administration centre of his own there with up to ten employees. The company’s property in Bad Oeynhausen will be sold keeping a small administration unit there.