KUALA LUMPUR (Nov 28): Sabah-based gold mining company Bahvest Resources Bhd saw the emergence of Anthony Lee Vui Han as its new substantial shareholder, after he acquired 500,000 shares in Bahvest via the open market.

This brings his total shareholding to 67.45 million shares or 5.44% equity interest in Bahvest.

The transacted price was not disclosed, but Bahvest shares closed down three sen or 5.94% at 47.5 sen on the open market on Tuesday. Its share price has risen 43.9% year to date.

The company posted a net profit of RM9.5 million on revenue of RM38.94 million for the three months ended Sept 30, 2023. The company had in August this year changed its fiscal year-end from March 31 to Sept 30. Consequently, there are no comparable figures available for the corresponding period in the preceding year.

Bahvest said the change of financial year was to provide adequate time for its auditors to perform and complete an audit due to change in the company’s management and board composition as well as its internal operations in May 2023.