Salcon rises after Berjaya Corp emerges as major shareholder

KUALA LUMPUR: Salcon Bhd saw its share price climb over 9% in early trade Friday after Berjaya Corp Bhd (BCorp) emerged as a substantial shareholder in the company.

The water and wastewater engineering company rose 9.30%, or two sen to 24 sen with over nine million shares traded at 9.30am. Year-to-date, the counter has risen 17.5%.

BCorp’s wholly-owned subsidiary, Inter-Pacific Capital Sdn Bhd (IPC) has emerged as a substantial shareholder in Salcon.

IPC has acquired 55 million Salcon shares (including share dividend of 1.22 million Salcon shares received by IPC in May 2023), representing a total of 5.43% equity interest in Salcon.

In the first six months to June 30, Salcon posted a net loss of RM1.6mil, or loss per share of 0.16 sen on revenue of RM58.8mil.