BETWEEN Jan 5 and 8, notable filings of companies listed on Bursa Malaysia included one by
Acoustech Bhd, where Yee Wei Meng emerged as a substantial shareholder after acquiring 30.99 million shares, or an 11.6% stake, via a private placement.
A property developer, Acoustech posted a net loss of RM5.92 million in the third quarter ended Sept 30, 2020, on the back of a steep contraction in revenue to RM458,000. In the previous corresponding period, it made a profit of RM26,000 from revenue of RM4.39 million.
At
CN Asia Corp Bhd, Ho Cheng San disposed of 16.4 million shares during the period under review. Filings with Bursa reveal that he had disposed of 14.33 million shares via a direct business transaction and 2.07 million shares on the open market. Post-disposal, he is left with a 1.26% direct stake in the company.
MALAYSIA will attract more applicants for its digital bank licences than Singapore or Hong Kong, experts believe, mainly because of its relatively lower capital requirement. “We think there could be between 30 and 50 applicants. Not all of them may have the same level of commitment, though,” Shankar Kanabiran, a financial services advisory partner at EY Malaysia, tells The Edge.
Bank Negara Malaysia, which released its licensing framework for digital banks on Dec 31 last year after a six-month public consultation, plans to award up to five such licences. The central bank set a June 30 deadline for those interested to apply to do Islamic or conventional digital banking business, and will announce the winners by the first quarter of 2022.
CN Asia Corp Bhd continued its steep decline in this morning's trade, making it the second biggest loser on Bursa Malaysia as at the time of writing today, after its digital banking plans failed to excite investors.
10:47 AM MYT
The 52.8% plunge in CN Asia s share price or RM1.31 over the past two trading days saw RM71.9mil erased from its market capitalisation.
KUALA LUMPUR: CN Asia saw its share prices tumble by 52.8% over the past two trading days to a low of RM1.17 on Monday as investors grew concerned about its venture into digital banking especially the RM400mil investment which it entailed.
Share price of the engineering services company hit limit-down to RM1.17 early Monday from a high of RM2.48 last Thursday (Jan 7) before the announcement was made on that day. Also last Thursday, it traded between RM2.31 and RM2.48.
The FBM KLCI managed to end the week in the positive zone after it started the first trading week on a bearish note on Monday. It gained 0.37% to close at 1,633.19 points as the three glove stocks, particularly Supermax Corp Bhd, recovered from the selldown that was partly driven by regulated short selling (RSS) on Monday.