He has a golden finger???
Datuk Raymond Chan Boon Siew
KUALA LUMPUR: Datuk Raymond Chan Boon Siew, whose entry into Harvest Court Industries Bhd and Naim Indah Corp Bhd made headlines recently, yesterday emerged as a substantial shareholder of Metronic Global Bhd.
Chan has a 5.18% stake in Metronic after buying 32.9 million shares from the open market as well as via married deals, a filing yesterday showed.
Part of the shares were sold by Metronic managing director Dr Ng Tek Che, who is no longer a substantial shareholder after selling 12.7 million shares yesterday. Another director, Liew Chiap Hong sold 39.4 million shares at 21.5 sen apiece on March 21 separate filing showed.
On March 19, Metronic said Ng had been approached by interested buyers for his stake. Ng then held 33.19 million shares or 5.23% in the company.
Yesterday’s most active counter, Metronic saw 347.7 million shares traded before it closed unchanged at 25.5 sen. On Wednesday, Metronic also topped the most active list, with its shares rocketing 132% or 14.5 sen to close at 25.5 sen. The volume of 845.6 million traded was 133% of its 634.9 million share base and more than one-fifth of the entire market’s total volume.
Last Friday, Metronic was queried over the sharp rise and high volume of its shares. That day its stock jumped 56.3% or 4.5 sen to 12.5 sen on a volume of 404.5 million shares.
Separately, Metronic yesterday said it sold 29.86 million ACE Market-listed Ariantec Global Bhd shares for RM4.6 million, cutting its holdings by 5.3% to 11.7%. The disposal will net it a RM3.4 million gain for the FY12 ending Dec 31.
This article appeared in The Edge Financial Daily, March 23, 2012.