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Notable Trade Pelaburan Mara emerges in loss-making Asia Bioenergy

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Notable Trade Pelaburan Mara emerges in loss-making Asia Bioenergy Empty Notable Trade Pelaburan Mara emerges in loss-making Asia Bioenergy

Post by Cals Fri 26 Sep 2014, 08:34

Notable Trade Pelaburan Mara emerges in loss-making Asia Bioenergy
Business & Markets 2014
Written by Kamarul Anwar of theedgemalaysia.com   
Thursday, 25 September 2014 21:08

KUALA LUMPUR (Sept 25): Pelaburan Mara Bhd has emerged as a substantial shareholder in Asia Bioenergy Technologies Bhd, a business incubator for biofuel producers.

A filing with Bursa Malaysia showed Pelaburan Mara bought 18.32 million shares or equivalent to 2.18% of Asia Bioenergy on the open market, on Sept 17. No price was included in the filing. 

However, Bloomberg data showed Asia Bioenergy’s counter on the said date was trading in the range of nine sen and 10.5 sen, before closing at 9.5 sen.

With the purchase, Pelaburan Mara now holds 58.32 million shares or a 6.94% stake in Asia Bioenergy. 

Pelaburan Mara has attracted attention with its recent investments into penny stocks, such as PDZ Holdings Bhd and Sanichi Technology Bhd.

As for Asia Bioenergy, the company said its financials are subjected to volatility, given the nature of its business being an incubator for high-technology companies and investments in start-ups. 

For the first half of its financial year ending Jan 31, 2015 (1HFY15), Asia Bioenergy swung into a net loss of RM1.67 million on revenue of RM18.55 million. This compared with the previous corresponding period’s net profit of RM994,000 and revenue of RM664,000.
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