Ni Hsin sees 7.35% equity stake traded off market

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KUALA LUMPUR (Oct 30): Some 17 million shares in Ni Hsin Resources Bhd changed hands through several off market trades at 52 sen per share, for a total of RM8.84 million.  

The buyer and seller of the shares are not known at the time of writing.

Ni Hsin has been in the spotlight recently, amidst market talk that the company was planning to venture into the oil & gas sector. The company has seen some boardroom changes, including the appointment of Datin Ida Suzaini binti Abdullah who has experience in the O&G sector, and Rizvi Bin Abdul Halim — a director with Ideal Jacobs (M) Corporation Bhd, which is in the midst of undergoing a reverse takeover exercise (RTO) with oil and gas outfits Cekap Technical Services Sdn Bhd and MECIP Global Engineers Sdn Bhd.

The stock hit a one year high today, with an intra-day trading price of 54.5 sen. At 4.09 pm, Ni Hsin was trading at 53 sen, with a market capitalization of RM122.41 million.