KUALA LUMPUR (Nov 17): Logistic service provider Swift Haulage Bhd saw 70.28 million shares cross off the market on Thursday (Nov 17). This represents 7.95% of the company’s 884.42 million shares.  

According to Bloomberg data, the shares were transacted in 12 blocks for a total value of RM28.15 million.

The transactions were carried out at between 40 and 45 sen a share, compared with its closing price of 46 sen in the open market on Thursday.

The parties involved in the transactions were not immediately known.

Swift Haulage was listed on the Main Market of Bursa Malaysia on Dec 21, 2021. Its initial public offering, at a price of RM1.03 per share, raised RM161.9 million.

Persada Bina Sdn Bhd is the group’s largest shareholder with a 38.12% stake as at Sept 19, 2022, Bloomberg data showed.

This is followed by Kumpulan Wang Persaraan (Diperbadankan) (KWAP) with an 8.99% equity interest in the company and Bluefin Bidco Ltd with a 7.83% stake.

The group’s non-independent non-executive director Loo Hooi Keat and his son Loo Yong Hui, who is the group chief executive officer, together with its non-independent non-executive director Datuk Haji Md Yusoff @ Mohd Yusoff Jaafar are the group’s substantial shareholders through their shareholdings in Persada Bina.  

On Monday, the group announced that its net profit for the third quarter ended Sept 30, 2022 rose 3.15% to RM11.72 million from RM11.36 million a year earlier, on higher revenue from its container haulage and land transportation segments. Total revenue climbed 19.25% to RM159.25 million from RM133.54 million.

At the latest closing price of 46 sen, Swift Haulage has a market capitalisation of RM409 million.