KUALA LUMPUR: Cypark Resources Bhd
’s shares were heavily traded this morning with 20.65 million shares traded.
At 9.58am, the renewable energy, green technology and environmental engineering solutions company rose 7.06%, or three sen to 46 sen. Year-to-date, the counter has fallen over 49%.
A check on previous filings by the group indicated that its substantial shareholder, Chung Chee Yang has been acquiring Cypark shares on the open market since the beginning of the month.
Just this week alone, he acquired over 2.4 million Cypark shares on the open market, raising his stake to 8.339%, or 49.1 million shares.
For the week ended Sept 16, Chung bought 12.18 million shares.
He surfaced as a substantial shareholder with 30 million shares or a 5.09% stake as at Aug 9, after acquiring shares on the open market.
In the first six months to April 30, Cypark posted a net profit of RM30.33mil, or earnings per share of 4.02 sen on revenue of RM153.01mil.
