Share
- The cessation came after Chuah sold 410,000 shares representing a 0.13% stake in the company in the open market.
KUALA LUMPUR (June 6): Mitraland Group founder Chuah Theong Yee (pictured) has ceased to be a substantial shareholder in steel products maker Eonmetall Group Bhd (KL:EMETALL).
The cessation came after Chuah sold 410,000 shares representing a 0.13% stake in the company in the open market, Eonmetall's bourse filing on Friday showed.
Based on prior filings, following the disposal, his stake in Eonmetall was trimmed to 4.99%—below the 5% threshold required to be deemed a substantial shareholder.
Chuah emerged as a substantial shareholder in Eonmetall in October 2022 with a 7.3% stake.
He left his stake largely untouched until May this year, when he started trimming his shareholding.
Eonmetall’s largest shareholder is its executive director Datuk Goh Cheng Huat with a 41.08% stake, followed by Magma Group Bhd (KL:MAGMA) executive chairman and major shareholder Datuk Seri Lee Hock Seng, with 8.21%.
Eonmetall shares were untraded on Friday. The counter last closed at 25 sen on June 4, valuing the company at RM76.95 million.
Does Malaysia have what it takes to become a Blue Zone, marked by health and longevity? Download a copy of EdgeProp’s Blueprint for Wellness to check out townships that are paving the path towards that.
TOP PICKS BY EDGEPROP
The Borough @ Eco Botanic 2
Iskandar Puteri, Johor
Taman Perindustrian Bukit Serdang
Seri Kembangan, Selangor
Taman Alam Damai (Damai Niaga)
Cheras, Kuala Lumpur
Taman Alam Damai (Damai Niaga)
Cheras, Kuala Lumpur
Kawasan Perindustrian Balakong
Balakong, Selangor
