Voir’s largest shareholder pares stake
Johnny Loh 
Voir’s largest shareholder, Vista Lestari Development, has divested a 3.86% stake in the fashion retailer

VOIR Holdings Bhd’s largest shareholder, Vista Lestari Development Sdn Bhd, has offloaded 5.6 million shares or a 3.86% stake in the former, filings with Bursa Malaysia on Nov 22 and 23 showed.

Post-disposal, Vista Lestari’s stake in Voir was reduced to 29.4% from 33.26%. Vista Lestari is 50%-owned by Voir chairman Datuk Zarul Ahmad Mohd Zulkifli with the remaining stake being equally shared between Mohd Asfirdaus Asri and Zarul Ikhwan Zarul Ahmad.

Led by its executive deputy chairman Seow Khim Soon, Voir designs, develops and retails apparels, footwear and accessories. For its Q2 ended June 30, the company posted a net loss of RM1.2 mil compared to a net profit of RM28,000 in the corresponding quarter last year.

The net loss mainly stemmed from losses incurred in its apparels retail business as a result of lower gross profit margin from the revised pricing policy as well as the need to write off certain properties, plant and equipment which were no longer in used.

Voir closed at RM1.10 on Nov 23, compared with RM1.18 a month earlier.

According to a filing with Bursa on Nov 22, Kua Khai Shyuan became the largest shareholder of mTouche Technology Bhd after acquiring 30 million shares or a 23.56% stake in the company.

mTouche Technology is a telecom and media player based in Asia with operations in Malaysia, Singapore, Indonesia, Thailand, Hong Kong, Vietnam and Cambodia.

The company provides mobile value-added services to more than 40 mobile network operators. It closed at 13 sen on Nov 23, having dipped 40.91% from 22 sen a month ago.

On the same filing date, Mohd Yusri Md Yusof emerged as the third largest shareholder Green Ocean Corp Bhd after acquiring 26.34 million shares or a 9.09% stake via private placement.

Green Ocean is engaged in the palm oil, bio-technology, and information and communications technology businesses. For its Q1 ended June 30, the company’s net loss widened to RM414,000 from RM269,000 in the corresponding quarter last year.

The higher net loss was mainly attributed to lower profit margins from trading activities, and higher financing cost arising from the drawdown of new bank borrowings. The counter closed at 16.5 sen on Nov 23.

Elsewhere, a filing with Bursa on Nov 22 saw Tenggara Kapital Sdn Bhd acquiring 1.03 million shares or a 1.59% stake in Ta Win Holdings Bhd. Post-acquisition, Tenggara Kapital’s stake in Ta Win was raised to 7.7% from 6.11%.

Ta Win manufactures, markets and sells enamelled copper wires and rods. It closed at RM1.33 on Nov 23, having appreciated 232.5% from 40 sen a year ago.

This article first appeared in Focus Malaysia Issue 260.