Lien Hoe sees nearly a third of its shares traded over the counter
The transaction was carried out at 25 sen a share
KUALA LUMPUR: Lien Hoe Corp Bhd saw nearly one-third of its stake comprising 108.55 million shares cross off-market yesterday. This represented 32.65% of the company’s outstanding 332.42 million shares. According to Bloomberg data tracking trade of 300,000 shares or more, the shares were transacted in one block.
The transaction was carried out at 25 sen a share for a total of RM27.14 million. It was not immediately known as to who the parties involved in the transaction were.
According to Lien Hoe’s annual report, its managing director Datuk Yap Sing Hock had the largest stake of 32.6% in the company as at March 29 this year, held under Kenanga Nominees (Tempatan) Sdn Bhd, followed by Lim Yew Keng’s 13.39%. Lien Hoe’s website states that the company is involved in hotel operations, building and civil works, property development and property investment. The company has been loss-making since financial year 2014 (FY14).
Lien Hoe’s net loss widened to RM8.71 million for the first quarter ended March 31, 2019 (1QFY19), versus RM7.81 million last year, while revenue was down 42.2% to RM5.96 million against RM10.29 million for 1QFY18.