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Wong ups stake in Bright Packaging to 23.56 percent

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Wong ups stake in Bright Packaging to 23.56 percent Empty Wong ups stake in Bright Packaging to 23.56 percent

Post by Cals Thu 24 Oct 2013, 18:48

Wong ups stake in Bright Packaging to 23.56 percent
Business & Markets 2013
Written by Bernama   
Thursday, 24 October 2013 17:23
KUALA LUMPUR (Oct 24): Asia Media Group Bhd Chief Executive Officer, Datuk Ricky Wong Shee Kai, has raised its stake in Bright Packaging Industry Bhd to 23.56 per cent with the purchase of an additional 360,000 shares on the open market.
In a statement today, Bright Packaging said Wong raised his total stake to 10.20 million shares via his investment holding company, Wong SK Holdings Sdn Bhd.
For the fourth quarter ended Aug 31, 2013 its revenue increased to RM20.8 million from RM13.46 million in the same quarter of 2012.
The higher revenue was due to an increase in local customers’ order from liquor and confectionery industry, it said.
For financial year ended Aug 31, 2013, the company posted an accumulated profit of RM4.5 million compared to an accumulated loss of RM26.4 million in 2012.
Bright Packaging said it revalued two parcels of its freehold land and building located at Lot 20 & Lot 23 of Subang Hi-Tech Industrial Park at RM28.2 million, which resulted in a revaluation surplus of RM18.05 million, recognised in the quarter’s financial statements.
Its core activities are manufacturing aluminium foil packaging materials and its services include lamination, coating, slitting and sheeting.
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