Markets
Yap acquires 5m shares in HIL Industries
Johnny Loh | 12 Jan 2018 00:30
Yap has emerged a substantial shareholder of HIL Industries after raising his stake to 6.33%
Former SP Setia Bhd chief financial officer Yap Kok Weng has emerged a substantial shareholder of HIL Industries Bhd. 

A filing with Bursa Malaysia on Jan 10 reveals that Yap has acquired five million shares or a 1.51% stake in the company to raise his stake to 6.33% from 4.82%.

HIL Industries manufactures and sells industrial and domestic moulded plastic products. For its Q3 ended Sept 30, the company’s net profit rose 32.75% to RM6.33 mil from RM4.77 mil in the previous corresponding quarter.

The higher net profit was in line with the higher revenue. The counter closed at 86 sen on Jan 11.