KUALA LUMPUR (Feb 21): Cuscapi Bhd announced the emergence of two new substantial shareholders, after the pair respectively bought over 7% stakes in the point-of-sale systems provider earlier this week.

According to bourse filings, Datin Seri Lee Lan Moi bought 67.5 million shares, equivalent to a 7.14% stake, on Monday. The block of shares was transacted at 2.5 sen per share, according to Bloomberg, for RM1.69 million.

The latest share purchase raised her shareholding in the company to 73.23 million shares or a 7.75% stake.

Meanwhile, Jessie Lim Me Xian also bought 68.2 million shares or a 7.22% stake on Monday. Bloomberg data shows that these shares changed hands at 2.5 sen per share or RM1.71 million in total.

The transaction price of 2.5 sen represents an 85.71% discount to Monday’s close of 17.5 sen.

Coincidentally, Hillcove Sdn Bhd sold some 65.7 million shares, or a 6.95% stake, on Monday, having bought into Cuscapi less than three months back in December 2023.

Notably, Cuscapi’s executive chairman Datuk Jayakumar Paneer Selvam had ceased to be a substantial shareholder last month, according to its filing to Bursa Malaysia, after he sold 55 million shares, or a 5.82% stake, via his vehicle Ultimate Quality Success Sdn Bhd.

Besides Lee and Lim, Cuscapi’s other shareholders include MyEG Services Bhd co-founder Wong Thean Song (better known as TS Wong), who holds a 30.77% stake, and Transight Systems Sdn Bhd with a 6.85% stake.

Shares in Cuscapi dropped 0.5 sen to 17 sen on Wednesday, giving the company a market capitalisation of RM156.17 million.