4.52% stake in HIL Industries traded off market for RM15 mil

TheEdge Thu, Dec 01, 2022 11:33pm - 1 year View Original


KUALA LUMPUR (Dec 1): Plastic products maker and property developer HIL Industries Bhd saw 15 million shares, representing 4.52% of its total shares, traded off market on Thursday (Dec 1).

The shares were transacted in three blocks for a total value of RM15 million, according to Bloomberg data.

The transactions were carried out at RM1 per share, compared with its closing price of RM1.13 in the open market on Thursday. The parties involved in the transactions were not immediately known.

According to HIL Industries’ 2021 annual report, its substantial shareholders as at March 31, 2022 were Dalta Industries Sdn Bhd and Fame Alliance Sdn Bhd.

Dalta Industries held a 50.28% direct stake and a 0.03% indirect stake, making it the largest shareholder of the company. Dalta is a family vehicle of HIL Industries’ executive chairman Tan Sri Ng Boon Thong.

Fame Alliance, which controlled a 10.05% direct stake, is owned by Sinlek Realty Sdn Bhd, which in turn is owned by Ng and Konsep Padu Sdn Bhd.

Last month, HIL Industries reported a 2.2% drop in its net profit for the third quarter ended Sept 30, 2022 to RM7.42 million, from RM7.59 million a year earlier, due to lower profit recognition for ongoing projects.

Quarterly revenue rose 16.7% to RM43.55 million from RM37.31 million, primarily due to increased orders from automotive customers.  

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