KUALA LUMPUR (Oct 8): Software and engineering solution company, DGB Asia Bhd has emerged as the new substantial shareholder of Mtouche Technology Bhd after it acquired a 5.26% stake or 48.75 million shares in the open market on Wednesday (Oct 6).

In a Bursa Malaysia filing today, the group said the acquisition was made via its wholly-owned subsidiary, DGB Networks Sdn Bhd.

Notably, this is the second time the group has emerged as the substantial shareholder of a public-listed company in a year.

In November last year, DGB Asia also emerged as the substantial shareholder of PUC Bhd, after it acquired a 6.51% stake or 40.2 million shares in the open market.

According to the group’s website, DGB Asia provides AIDC (Automatic Identification and Data Capture) tracking solutions and distribution in Singapore, Malaysia, Hong Kong and China.

For the first-half period ended June 30, 2021 (1HFY21), DGB Asia’s net losses swelled to RM16.65 million compared with a net loss of RM1.72 million in the same period last year (1HFY20).

Revenue, however, increased by 133% to RM10.72 million against RM4.6 million reported in 1HFY20.