DNeX group managing director Syed Zainal appointed Scanwolf chairman

DNeX group managing director Syed Zainal appointed Scanwolf chairman
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KUALA LUMPUR (Nov 6): Scanwolf Corp Bhd has announced Tan Sri Syed Zainal Abidin Syed Mohamed Tahir’s appointment as its independent non-executive chairman among several boardroom changes at a time when the property developer’s substantial shareholder has reduced her stake in the firm following the emergence of new substantial shareholders.

According to Scanwolf’s Bursa Malaysia filings on Friday (Nov 5), Dagang NeXchange Bhd group managing director Syed Zainal was appointed Scanwolf chairman on Friday.

Scanwolf had also announced several boardroom changes on Friday including one on former non-independent non-executive chairman Lau Tiang Hua’s resignation "to devote more time for personal matters”.

Lau is Scanwolf substantial shareholder Bernadette Jeanne De Souza’s spouse.

According to Scanwolf’s Bursa filings on Wednesday (Nov 3), De Souza had on Wednesday cut her direct stake in Scanwolf to 5.701% comprising 9.81 million shares after selling 10.56 million shares in the company.

De Souza also owned an indirect stake of 0.105% comprising 180,600 shares in Scanwolf through Lau.

Prior to the Wednesday transaction, De Souza had on Tuesday (Nov 2), a direct stake of 11.839% in Scanwolf after disposing of 1.1 million shares in the company on Tuesday.

Scanwolf, however, did not specify in the Bursa filings to whom De Souza had sold her Scanwolf shares in both transactions.

According to Scanwolf’s latest annual report, prior to the Tuesday transaction, De Souza’s direct stake in Scanwolf stood at 12.846% comprising 21.46 million shares as at Sept 30.

Scanwolf had in its September 2021 Bursa filings announced two new substantial shareholders in the company.

On Sept 3, Scanwolf said Chooi Yoey Sun had emerged as a substantial shareholder with a 12.878% direct stake comprising 20 million shares following conversion of his irredeemable convertible unsecured loan stocks to ordinary shares in the company.

On Sept 17, Scanwolf said PEG Capital Sdn Bhd had on Sept 14 emerged as a substantial shareholder with a direct stake of 10.157% comprising 16 million shares in Scanwolf after PEG acquired 13.8 million Scanwolf shares on Sept 14.

Scanwolf, however, did not specify in the Sept 17 filing from whom PEG acquired the 13.8 million Scanwolf shares.

On Friday (Nov 5), Scanwolf’s share price closed up four sen or 7.02% at 61 sen for a market value of about RM104.92 million.

Scanwolf saw 18.21 million shares traded. Scanwolf’s latest-reported number of issued shares stood at 172 million, according to the company’s Bursa filing on Oct 28.

Chong Jin Hun