Unisem chairman John Chia increases stake

Unisem chairman John Chia increases stake
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KUALA LUMPUR (Nov 7): Unisem (M) Bhd chairman and group managing director John Chia Sin Tet acquired 215,000 shares in the semiconductor manufacturer last Friday (Nov 4), raising his stake to about 26% in the company.

Today, Unisem told Bursa Malaysia that Chia acquired the shares on the open market. Following the purchase, Unisem said he had a combined direct and indirect stake of about 26% comprising 191.48 million shares.

Chia bought the shares after Unisem announced its third quarter financials last Thursday (Nov 3). Unisem said net profit dropped to RM38.63 million in the third quarter ended Sept 30, 2016 (3QFY16) from RM40.2 million a year earlier while revenue fell to RM321.95 million from RM329.61 million.

For 9MFY16, net profit climbed to RM110.95 million from RM95.12 million a year earlier while revenue rose to RM960.65 million from RM908.46 million. For 3QFY16, Unisem declared a tax-free dividend of 3.5 sen a share.

At 12:30pm today, Unisem shares fell seven sen or 3% to settle at RM2.28 for a market capitalisation of RM1.69 billion.