Kim Yew sells down Metronic stake, Sanichi and MNC step up buying


Tan Sri Lee Kim Yew pared down his shareholding in loss-making Metronic Global Bhd after selling 123 million shares on Thursday.

KUALA LUMPUR: Property tycoon Tan Sri Lee Kim Yew pared down his shareholding in loss-making Metronic Global Bhd after selling 123 million shares on Thursday, a filing with Bursa Malaysia showed.

After the disposal of the shares, which represent a 9.84% stake, his shareholding is believed to be 25.51 million shares or 2.04%.

The issued shares of Metronic, which is involved in engineering services, is 1.25 billion units.

An earlier filing with Bursa showed Lee had disposed of 180 million shares or 14.4% on Sept 21 and reducing his stake then to 148.51 million shares or 11.92%.

Meanwhile, Sanichi Technology Bhd was seen picking up 92.35 million shares on Sept 21. This latest acquisition saw its shareholding rise to 127.23 million shares or 10.21%.

Another listed company, MNC Wireless Bhd had emerged as a substantial shareholder with 63.34 million shares or 5% after buying 10.30 million shares on Sept 21 also.

Metronic posted net losses of RM12.21mil in the fourth quarter ended June 30,2020 and RM17.46mil in the financial year ended June 30,2020.

Metronic closed up 0.5 sen to 8.5 sen.

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