KUALA LUMPUR (Aug 19): Koh Pee Seng, former group managing director of Milux Corp Bhd, has emerged as a substantial shareholder in BCM Alliance Bhd after acquiring an additional 6.76 million shares yesterday.

In a bourse filing today, BCM Alliance, which distributes commercial laundry equipment and medical devices, said Koh bought 230,000 shares in the company via open market and another 6.53 million shares via off market. BCM Alliance shares closed at 35 sen apiece yesterday. A back-of-the-envelope calculation shows the 6.76 million shares cost Koh at least RM2.37 million.

This brings Koh's total shareholding in BCM Alliance to 27.08 million shares or a 6.43% stake as at Aug 19, 2020.

The stock closed down 3 sen or 8.57% at 32 sen today, with 53.53 million shares done. Its market capitalisation stood at RM134.8 million.