KUALA LUMPUR (May 6): ASM Automation Group Bhd (KL:ASM), which debuted on the ACE Market about 10 months ago, has seen the emergence of Chong Ming Hang as its new substantial shareholder with a 19% stake.

Chong, via his private vehicle Aarcadia Technologies Sdn Bhd, purchased 101.6 million shares in a direct business transaction on May 4, according to the group's filing with Bursa Malaysia on Wednesday.

The acquisition makes him the second-largest shareholder in the automation solutions provider, behind managing director Chan Kok Heng, whom, as of May 5, held a 34.71% stake.

The transaction price was not disclosed. However, Bloomberg data indicated the shares were acquired at 17 sen apiece, representing a 9.7% premium to the stock’s closing price of 15.5 sen on the same day.

Also on the same day, Chan disposed of 86.62 million shares, representing a 16.2% stake. Executive director Leong Weng Khin, meanwhile, sold 25.68 million shares or a 4.8% stake, paring his stake to 10.29%.

For the third quarter ended Dec 31, 2025 (3QFY2026), ASM Automation posted a net profit of RM1.76 million on revenue of RM11.95 million.

Shares in ASM Automation closed unchanged at 15.5 sen on Wednesday, giving the group a market capitalisation of RM80.3 million. The company was listed on July 2 last year at an initial public offering price of 17 sen per share.