Metronic Global director Wong emerges as Fitters’ substantial shareholder

TheEdge Wed, May 08, 2024 07:34pm - 1 month View Original


KUALA LUMPUR (May 8): Fitters Diversified Bhd [KL:FITTERS] saw Doris Wong Sing Ee emerge as its substantial shareholder after she acquired 45 million shares in the fire protection equipment supplier.

Wong acquired 45 million Fitters shares from the open market on May 3, raising her stake in the fire protection equipment supplier to 5.12%, Fitters bourse filing showed.

While the acquisition price was not disclosed, a rough calculation estimates the block of shares to be worth RM2.25 million, based on Fitters’ closing price of five sen on May 3.

The 42-year-old Wong is currently a non-independent non-executive director in Trive Property Group Bhd [KL:THRIVE], and an executive director of Metronic Global Bhd [KL:MTRONIC].     

Recently, Wong became a substantial shareholder of the printed circuit board (PCB) company BSL Corp Bhd [KL:BSLCORP] on April 27, holding a 7.1% equity interest.

In a separate filing, Fitters also said that Florence Wong Wei Wei, a substantial shareholder of PDZ Holdings Bhd [KL:PDZ], disposed of her 3.84% stake or 90 million shares in the company.

The disposal value was also not revealed, but based on the closing price of five sen on May 8, the stake could be valued at about RM4.5 million.

On Wednesday, Fitters’ share price closed half a sen or 9.09% lower at five sen, bringing the company’s market capitalisation to RM117.06 million.

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