Kian Onn the largest shareholder of ECM Libra

Business & Markets 2013
Written by Madiha Fuad of theedgemalaysia.com
Thursday, 25 April 2013 10:07
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KUALA LUMPUR: The co-founder of ECM Libra Financial Group Bhd,
Lim Kian Onn, is now the single largest shareholder of the PN17
company. The company is left with its asset management business after
hiving off its investment banking business.
According to filings with Bursa Malaysia, Lim raised his stake to 17.82%
as at yesterday, compared with 14.34% in November last year.
The former investment banker bought 1.78 million ECM Libra shares on
the open market between April 22 and 24. This brings the total number
of shares he owns to 47.8 million shares. He has been accumulating
ECM Libra shares since July last year.
Lim is now largest stakeholder, followed by Equity Vision Sdn Bhd,
which is controlled by Tan Sri Azman Hashim, holding 16.16% equity
interest and Clear Goal Sdn Bhd with 8.52%.
ECM Libra recently completed its capital restructuring exercise,
returning excess capital to shareholders after the company sold its
investment banking business.
ECM Libra’s share price has been hovering around 70 sen since late
March. The stock closed at 70.5 sen yesterday.
The company has made known that it is looking for a new core
business. It has until December this year to work on its regularisation
plan.
For the full year ended Jan 31, 2013 (FY13), the group posted a net
loss of RM42.1 million compared to FY12’s net profit of RM29.9 million. It incurred a loss per share of 5.09 sen compared to
earnings per share of 3.64 sen the year before. Revenue was lower at RM165.4 million compared with RM180.5 million for
FY12.