KUALA LUMPUR (Feb 7): The Social Security Organisation (Perkeso) has emerged as Cypark Resources Bhd’s substantial shareholder, with a 5.026% stake after acquiring two million shares on the open market.
Cypark told Bursa Malaysia that the acquisition was done last Thursday (Feb 2), but the transacted price was not disclosed.
Perkeso is not the first notable institutional investor that was attracted to Cypark recently. Slightly over a month ago, the renewable energy company announced that Jakel Capital — the investment arm of textile trading and property developer Jakel Group — had emerged as its single largest shareholder with a 27.33% stake after subscribing to a private placement exercise.
Cypark shares have seen increasing interest of late, with its share price more than doubling in January alone, resulting in an unusual market activity query from Bursa Malaysia on Jan 31.
In response, Cypark said the increase in its share price was due to the emergence of Jakel Group's investment arm as the largest shareholder.
Last week, the group announced that its wholly owned unit had received the confirmation of feed-in-tariff commencement from Sustainable Energy Development Authority to operate a solid waste modular advanced recovery and treatment waste-to-energy plant at Ladang Tanah Merah, Port Dickson, in Negeri Sembilan.
Shares of Cypark closed five sen or 4.6% lower at RM1.03 on Tuesday, giving it a market capitalisation of RM796.3 million.
Note: This story has been updated due to Cypark’s amended announcement filed with Bursa Malaysia. The block of shares acquired by Perkeso was from the open market and not a direct deal as reported earlier.