Fish breeder Xian Leng sees 3.8% stake cross off-market

-A +A

KUALA LUMPUR (June 7): Some three million shares in Xian Leng Holdings Bhd crossed off-market today. This represents 3.77% of the fish breeder's share capital of 79.56 million shares.

According to Bloomberg data tracking trade of 300,000 shares or more, the shares were transacted in three blocks worth a total of RM1.35 million.

The transactions were carried out at 45 sen per share. This represents a 2.27% premium to the closing price of 44 sen last Friday. No share was traded since then.  

In a filing to Bursa Malaysia today, the company announced that its independent non-executive director Tay Seng Chew had disposed of 2.5 million shares. This leaves Tay with only 1.76% or 1.4 million shares in the company.

It is not immediately known the buyer of the block of shares.

It is also interesting to note that its largest shareholder Datuk Ng Jet Heong, who is also the company’s executive director, bought 13.1% stake or 10.42 million on April 22. This brings his shareholding to 24.83% or 19.75 million.

The group posted an annual net loss of RM925,000 for the financial year ended Jan 31, 2019, compared with net profit of RM79,000 last year as the sales volume and price of Arowana fish sold declined.

Its annual revenue dropped to RM12.97 million from RM13.2 million last year.

Over the past 12 months, the stock has slipped 22.12% from 56.5 sen, giving it a market capitalisation of RM35.01 million.