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Notable Trade Pelaburan Mara emerges in Sanichi
by Cals Wed 03 Sep 2014, 22:49
| Notable Trade Pelaburan Mara emerges in Sanichi |
| Business & Markets 2014 |
| Written by Kamarul Anwar of theedgemalaysia.com |
| Wednesday, 03 September 2014 19:17 KUALA LUMPUR (Sept 3): Pelaburan Mara Bhd, the asset management company for Majlis Amanah Rakyat (MARA), has emerged as a substantial shareholder of plastic injection mould fabrication player Sanichi Technology Bhd, with a 15.33% stake. In a filing with Bursa Malaysia today, Sanichi said Pelaburan Mara bought 53 million of Sanichi’s rights shares (SANICHI-OR) yesterday (Sept 2) in a direct deal, off market. Another filing showed that TASEC Nominees (Tempatan) Sdn Bhd had disposed of 60 million SANICHI-OR securities. With the off market transaction, Pelaburan Mara now owns 80 million shares or 15.33% in Sanichi. While no price was stated in the stock exchange filings, Bloomberg data showed there were two blocks of SANICHI-OR that were transacted off-market on Sept 2, priced at two sen apiece. One block consisted of 7 million shares and the other, 53 million. The SANICHI-OR shares traded off market yesterday had a 33.33% mark down from the open market closing price of three sen. Pelaburan Mara has been in the limelight of late after its current CEO Nazim Rahman took the helm last year. In April, it had emerged as a controlling shareholder in loss-making PDZ Holdings Bhd by buying a 26.83% stake from Tan Sri Robert Tan Hua Choon. |
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