Asia Bio confirmed as substantial shareholder of Focus Dynamics

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KUALA LUMPUR (Oct 13): Business incubator and strategy advisory group Asia Bioenergy Technologies Bhd (Asia Bio) has emerged as a substantial shareholder of Focus Dynamics Technologies Bhd with a 5.1% stake.

In a filing with Bursa Malaysia today, Focus Dynamics has confirmed that the ACE-Market listed Asia Bio is now its new substantial shareholder.

Asia Bio’s wholly owned unit, dubbed Asiabio Capital Sdn Bhd, has bought 18 million Focus Dynamics shares in the open market, it said.

Although the price transacted was not mentioned in the statement to the local bourse, it is understood that Asia Bio has bought the shares at about 10.2 sen apiece.

Last Friday (Oct 10), Asia Bio revealed that Asiabio Capital had acquired 18 million shares in Focus Dynamics from Oct 8 to Oct 10 this year, which amounted to RM1.85 million, representing a 5.1% stake in the company.

Focus Dynamics is a fast developing international business specialising in energy efficiency solutions, LED Lighting, industrial control systems and products.