Asanas no longer substantial shareholder of Jaya Tiasa

KUCHING: Asanas Sdn Bhd has ceased to be a substantial shareholder of Jaya Tiasa Holdings Bhd after disposing of 40.1 million shares in the timber/plantation company.

According to Jaya Tiasa, Asanas — which sold the shares via off-market deal and in the open market at undisclosed prices on June 25 — was Jaya Tiasa’s third single largest shareholder with nearly 87.4 million shares, or 9.02%.

Second single largest shareholder Genine Chain Ltd has substantial shareholding in Asanas.

Also on June 25, single largest shareholder Tiong Toh Siong Holdings Sdn Bhd acquired 21 million shares in an off-market deal, raising its stake in Jaya Tiasa to 259.8 million shares, or 26.84%.

Meanwhile, Sarawak Consolidated Industries Bhd (SCIB), which saw a steep rise to its share price over the past two weeks, has its gains trimmed due to profit-taking activities.

SCIB, which surged about 50% to a high of 72.5 sen — the highest level in more than two years — with heavy volume of more than 8.8 million shares on Thursday, pulled back to intra-day low of 66 sen on Friday.

The company is investing RM5mil in two new production lines to boost the annual production capacity of precast concrete spun piles by 40,000 tonnes to 100,000 tonnes. The new lines are to be commissioned within two months.

According to chairman Tan Sri Hamid Bugo, SCIB targets to raise its spun piles’ market share in Sarawak by 10% from the current 25% ,with higher output from the new production lines.

Last year, it spent RM2mil to expand its industrialised building system (IBS) factory to raise production capacity and improve operational efficiency.

SCIB, which has a current order of RM43mil, has bid for several new contracts.

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