Notable Trade New substantial shareholder emerges in Takaso

by **Cals** Tue 04 Nov 2014, 01:30

Notable Trade
New substantial shareholder emerges in Takaso

KUALA LUMPUR (Nov 3): Takaso Resources Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) saw the emergence of a new shareholder, Ong Kah Hoe, in the baby-care accessories and condoms manufacturer, after he bought 15.65 shares or 8.97% equity stake on the open market today.
A filing with Bursa Malaysia this evening revealed that Ong also has 10.24 million shares of 5.87% indirect stakes held through his parents and siblings.
Meanwhile, it is worth noting that three of Takaso directors — Yong Mong Huay, Tan Ooi Jin and Su Seong Yeen — had disposed a total of 4.41 million shares or 2.53% equity stakes.
Yong had sold 2.03 million shares or 1.17%, while Tan had disposed 668,000 or 0.38% stakes and Su had disposed 1.71 million shares or 0.98% equity interest.
Takaso has been in the red since 2009.
For the financial year ended July 31, 2014 (FY14), Takaso saw its net loss widened to RM5.95 million from RM3.61 million a year ago on, while revenue decreased by 17% to RM37.56 million, from RM45.08 million previously.
Takaso blamed the loss to reduction in sales of computer accessories, and declining orders from some of its big customers in Middle East and African countries due to their unstable market condition.
Interestingly, shares in Takaso have been climbing steadily from 24 sen recorded in January this year, despite posting six consecutive losses. The stock has risen 148.98% or 36.5 sen year-to-date.
Takaso’s counter closed at one sen lower to 61 sen today, giving it a market capitalization of RM106.4 million.