Notable filings GK Goh buys 200,000 E&O shares

by **Cals** Fri 29 Aug 2014, 00:39

Notable filings GK Goh buys 200,000 E&O shares

Business & Markets 2014

Written by Kamarul Anwar of theedgemalaysia.com

Thursday, 28 August 2014 19:14

KUALA LUMPUR (Aug 28): Singaporean tycoon Goh Geok Khim, the man behind investment company GK Goh Holdings Ltd, has bought an additional 200,000 shares in Eastern & Oriental Bhd (E&O) on Aug 27, the Penang-based property developer’s filings with Bursa Malaysia showed.

GKG Investment Holdings Pte Ltd bought those shares on the open market, said E&O. While the transacted price was not disclosed, E&O was traded in the range of RM2.89 and RM2.92, before closing at its intraday low on the same day.

With the purchase, Goh’s stake in E&O now stands at 82.56 million shares, or 7.43%. His direct holding stands at 0.18% with 2 million shares held, while the remainder is parked under GKG Investment.

Goh was one of the parties who sold a collective 30% stake in E&O to Sime Darby Bhd at a premium in 2011, with the other sellers being Tan Sri Wan Azmi Wan Hamzah and E&O managing director Datuk Terry Tham Ka Hon.

Meanwhile, other E&O filings today showed CIMB Commerce Trustee Bhd, a trustee for Libra Strategic Opportunity Fund, disposed of a total of 2.6 million shares in the property developer. The selling was done on Aug 22 and 25. The filings did not mention the prices that CIMB Commerce sold the shares for.

With that, CIMB Commerce now holds an indirect stake of 5.06%. It has been paring down its stake from 5.68% as at Aug 06 of this year.

E&O's counter has appreciated by some 49% from RM1.94 a year ago. Today, it shed one sen or 0.35% to close at RM2.88, with 725,000 shares traded.