Markets
Ambleside sells 8% stake in Yi-Lai
Johnny Loh 
ML Global Bhd’s second largest shareholder Datuk Lim Lit Chek divested 10 million shares or a 2.52% stake in the company.
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Yi-Lai Bhd’s third largest shareholder, Ambleside Associates Group Ltd, has ceased to be a substantial shareholder after disposing its entire stake of 8.05% (an equivalent of 12.25 million shares) in the company, a filing with Bursa Malaysia on Dec 6 reveals.

Interestingly, a filing with Bursa on Dec 7 saw Boundless Vigour Sdn Bhd acquiring 12.42 million shares or an 8.16% stake in Yi-Lai. Boundless Vigour is indirectly owned by Yi-Lai executive director Tan Jian Hong and non-executive director Wendy Kang Hui Lin through Hampton Capital Pte Ltd.

Yi-Lai is involved in the manufacturing and trading of ceramic and homogeneous tiles.

For its Q3 ended Sept 30, the company posted a net loss of RM1.24 mil compared to a net profit of RM305,000 in the previous year’s corresponding quarter. The net loss was mainly due to lower revenue as a result of the drop in sales volume. The counter closed at 78.5 sen on Dec 7.

In another filing with Bursa on Dec 5, ML Global Bhd’s second largest shareholder Datuk Lim Lit Chek divested 10 million shares or a 2.52% stake in the company. Lim, who is also the company’s executive director and CEO, trimmed his stake to 9.56% from 12.08%.

ML Global provides construction management, design-build and pre-construction planning services.

For its Q3 ended Sept 30, the company’s net profit jumped 418.84% to RM10.05 mil from RM1.94 mil previously on the back of higher revenue from its property development segment. The counter closed at RM1.72 on Dec 7.

Tatt Giap Group Bhd’s largest shareholder Giapxin Sdn Bhd disposed of five million shares or a 2.93% stake in the company, a filing with Bursa on Dec 6 shows. Giapxin Sdn Bhd reduced its stake in Tatt Giap to 27.7% from 30.63%.

Tatt Giap manufactures and trades steel products. For its Q1 ended Aug 31, the company recorded a net loss of RM1.98 mil from a net profit of RM18.81 mil in the preceding year’s corresponding quarter. The counter closed at 14 sen on Dec 7.

A filing with Bursa on Dec 6 saw AT Systematization Bhd’s largest shareholder, Asiabio Capital Sdn Bhd, acquiring 6.73 million shares or a 1.59% stake in the company. Asiabio’s stake in AT Systematization rose to 15.05% from 13.46%.

AT Systematization is engaged in the fabrication of industrial and engineering parts. The counter closed at 9.5 sen on Dec 7.



This article first appeared in Focus Malaysia Issue 262.