Markets
Safe Tower Systems pares Rohas stake
Ng Siew Yen 
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PT Safe Tower Systems Sdn Bhd has ceased to be substantial shareholder of Rohas Tecnic Bhd after divesting 10 million shares or a 2.12% stake in the company, a Bursa Malaysia filing on Feb 28 shows. Post-disposal, PT Safe Tower Systems trimmed its stake to 3.77% from 5.89%.

Rohas Tecnic is an investment holding company engaged in plastic moulding design and fabrication. For its Q4 ended Dec 31, the company recorded a net profit of RM12.32 mil.

Formerly Tecnic Group Bhd, Rohas Tecnic came about following a regularisation plan which paved way for a reverse acquisition by Rohas-Euco Industries Bhd in March last year. The counter closed at RM1.47 on March 1.

According to a Bursa filing on Feb 27, KIP REIT managing director Datuk Chew Lak Seong and executive director Datuk Ong Kook Liong have separately acquired 5.35 million units or a 1.06% stake from Setia Wirajaya Sdn Bhd via an off-market transaction.

On separate filings on Feb 23 and March 1, Ong acquired another 35,600 units in KIP REIT. Post-acquisition, Chew and Ong raised their stakes to 8.05% and 8% respectively from 6.99% and 6.94%.

KIP REIT is engaged in investing – directly and indirectly – in a portfolio of income-producing real estate used primarily for retail purposes. The REIT was listed on the Main Market of Bursa Malaysia on Feb 6 last year.

For its Q2 ended Dec 31, KIP REIT posted a net profit of RM8.75 mil. The counter closed at 82 sen on March 1.

Yong Mai Fang has emerged as a substantial shareholder of AppAsia Bhd after acquiring 7.1 million shares or a 2.06% stake in the company, a Bursa filing on March 1 reveals. She was appointed as the company’s executive director on the same day.

AppAsia is an investment holding company engaged in research and development, and sale of information communication and technology security systems, as well as the provision of related professional services.

For its Q4 ended Dec 31, its net loss narrowed to RM139,000 from RM1.88 mil in the same quarter last year due to lower operating costs. The counter closed at 33.5 sen on March 1.

According to a filing on Feb 27, Vertice Bhd executive director Wong Kwai Wah acquired 1.65 million shares or a 1.14% stake in the company. Post-acquisition, his stake rose to 6.61%.

Interestingly, on the same filing day, Vista Lestari Development Sdn Bhd sold two million shares or a 1.38% stake in Vertice. Vista Lestari Development’s stake was reduced to 20.86% after the disposal.

The counter closed at 91 sen on March 1.



This article first appeared in Focus Malaysia Issue 274.