Pheim Asset Management buys stake in Scomnet

KUALA LUMPUR: Pheim Asset Management Sdn Bhd (Pheim Malaysia) and Pheim Asset Management (Asia) Pte Ltd (Pheim Singapore) have acquired under a 2% stake in Supercomnet Technologies Bhd (Scomnet).

Pheim Malaysia and Pheim Singapore bought the stake via a combination of an off-market transaction and directly from the open market.

The bulk of the acquisition was made on Wednesday at RM1.62, which is a 9.5% discount from its Tuesday closing of RM1.79.

At this price, Scomnet has a market capitalisation of RM1.36bil.

“We are very pleased to welcome Pheim to become our shareholder. We look forward to growing our relationship and learning from each other’s experience for a prosperous future together,” Scomnet managing director James Shiue Jong-Zone said in a statement.

For the third quarter ended on Sept 30, 2022, Scomnet announced a 44.4% increase in net profit to RM10.1mil on the back of a 40.6% jump in revenue to RM45.14mil compared to the last corresponding period.

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