Asia Bio bumps up stake in Focus Dynamics

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KUALA LUMPUR (Dec 22): Asia Bioenergy Technologies Bhd (Asia Bio) has raised its stake in Focus Dynamics Technologies Bhd to 13.52% merely a month after it became a substantial shareholder in the company.

According to filings with Bursa Malaysia, the business incubator and strategy advisory group started its share purchasing activities through four separate transactions since last Tuesday (Dec 16).

The purchases were made by Asia Bio wholly owned unit, Asiabio Capital Sdn Bhd.

The filings showed that Asia Bio bought some 9.48 million shares in Focus Dynamic on Dec 16, and another 8.19 million shares the next day.

Subsequently, Asia Bio acquired an additional 8.173 million and 1.55 million shares on Dec 18 and Dec 19 respectively.

However, the transaction prices were not stated in the filings.

With the recent purchases, Asia Bio has raised its stake to 13.52% or 95.39 million shares.

The ACE-Market listed Asia Bio emerged as a substantial shareholder in Focus Dynamics with a 5.1% stake on Nov 18 this year.

Focus Dynamics specialises in energy efficiency solutions, LED lighting, industrial control systems and products.

Shares of Focus Dynamics closed unchanged at seven sen today, giving it a market capitalisation of RM52.91 million.