Property developer Farlim Group Bhd saw the departure of Multi-Purpose Holdings Bhd (MPHB) as its substantial shareholder after the later disposed a 6.5% equity interest in the property outfit.
According to recent filings with Bursa Malaysia Securities, MPHB’s stockbroking arm AA Anthony Securities Sdn Bhd (AAASB) had sold the shares in Farlim on Dec 20, last year.
Farlim’s 2009 annual report showed that as at April 26, last year, its single largest shareholder was Farlim Holding Sdn Bhd with 60.57 million shares, representing a 48.51% equity stake. AAASB was the second largest shareholder with 8.62 million shares, or a 6.9% stake.
Farlim ended one sen lower yesterday to 40.5 sen with 122,000 shares traded. Meanwhile, MPHB closed two sen lower to RM2.37 with 3.74 million shares done.
This article appeared in The Edge Financial Daily, January 7, 2011.
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