KUCHING: Major shareholders in Press Metal Aluminium Holdings Bhd (Press Metal) collectively disposed of 18 million shares on August 11 as the counter rallied.
Executive Vice-Chairman, Datuk Koon Poh Ming, sold nine million shares that day when the stock traded between RM5.43 and RM5.50.
The next day, Press Metal rose another 7 sen to a 52-week high of RM5.54 (52-week low: RM4.14).
The sale trimmed Koon’s direct stake to 503.86 million shares (6.115 per cent), while his indirect interest stands at 130.92 million shares (1.589 per cent), according to the company’s Bursa Malaysia filing.
Alpha Milestone Sdn Bhd, controlled by group Chief Executive Officer, Tan Sri Paul Koon Poh Keong, via Paul Koon Pte Ltd, sold eight million shares, reducing its holdings to 2.777 billion shares (33.711 per cent).
Executive Director, Datuk Koon Poh Tat, disposed one million shares, cutting his direct stake to 212.75 million shares (2.582 per cent) and indirect interest to 18.53 million shares (0.225 per cent).
Meanwhile, the Employees Provident Fund (EPF) has been increasing its position.
On August 7, it acquired 1.737 million shares, lifting its stake to 535.42 million (6.498 per cent) from 445.73 million (5.41 per cent) as at April 2, 2025.
EPF also bought 311,200 shares between August 4 and 7 in Dayang Enterprise Holdings Bhd, raising its stake to 94.7 million shares (8.18 per cent) from 44.94 million (3.88 per cent) as at March 28.
For the financial year (FY) 2024, Press Metal – with smelting plants in Samalaju Industrial Park, Bintulu and Mukah – posted revenue of RM14.91 billion and profit after tax and minority interest of RM1.77 billion, up 45 per cent from FY 2023.
Earnings per share stood at 21.43 sen.
In another development, Ocean Vantage Holdings Bhd’s 209.97 million free warrants were listed on the ACE Market on Wednesday.
Issued on a one-for-two basis, the warrants traded between 0.3 sen and 0.4 sen, while Ocean Vantage’s shares moved between 15 sen and 16 sen.
