KUALA LUMPUR (May 5): Analabs Resources Bhd has acquired Malayan Banking Bhd’s (Maybank) shares amounting to RM15.46 million from the open market between April 9 and May 5, 2021.

The industrial waste recycling company said in a filing with Bursa Malaysia today that the acquisition was carried out with the intention of deriving dividend income and for potential capital gains.

Analabs also said the purchase had exceeded five per cent of its audited net assets and was funded by the group’s share margin account.

At the close of trading today, Analabs’ share price rose two sen to RM1.19 with 43,500 shares transacted.