EPF buys more shares in QL Resources, raising stake to 5.01%

PETALING JAYA: QL Resources Bhd hit a three-year intraday high on Monday after the Employees Provident Fund (EPF) emerged as a substantial shareholder in the company.

The company rose 0.61% to close at RM6.58 with 2.73 million shares traded. Year-to-date, the integrated agro-based group has risen 15.24%.

In a filing with Bursa Malaysia, QL Resources said the EPF acquired 2.88 million shares, which pushed it beyond the 5% threshold necessary to be deemed a substantial shareholder.

The purchase raised its shareholding in the company to 121.94 million shares or a 5.01% stake.