KUALA LUMPUR (Aug 2): Florence Wong Wei Wei, a substantial shareholder of PDZ Holdings Bhd, has secured substantial shareholder status in Fitters Diversified Bhd as well.

She raised her stake in Fitters Diversified to 7.98% or 186.85 million shares, after acquiring 105 million shares in the one-stop fire protection specialist on the open market on June 28, according to the company's bourse filing on Wednesday (Aug 2).

Fitters Diversified did not reveal the purchase price. Based on the company’s closing price of four sen on June 28, a back-of-the-envelope calculation indicates that Wong could have acquired the stake for about RM4.2 million.

Notably, Wong is the second PDZ shareholder to acquire a substantial shareholding in Fitters Diversified in recent days. Slightly over two weeks ago, PDZ executive director Ho Jien Shiung reemerged as a substantial shareholder of Fitters Diversified, after increasing his stake to 10.35% or 242.21 million shares through the acquisition of another 5.37% stake or 125.71 million shares.

Ho had ceased to be a substantial shareholder of Fitters Diversified in April after disposing of 40 million shares in the company to reduce his stake to 4.53% or 106.11 million shares.

Over the past month, Fitters Diversified saw two of its shareholders ceasing to be substantial shareholders.

On June 30, Sanichi Technology Bhd ceased to be a substantial shareholder after it dumped its entire equity interest of 6.7% or 156.92 million shares in Fitters Diversified.

Meanwhile, Arena Evolusi Sdn Bhd’s substantial shareholder status ceased on June 27, after it offloaded 73.8 million shares or a 3.15% stake, cutting its stake in the group to 4.3%.

Besides Ho and Wong, Fitters Diversified’s other substantial shareholders are Cita Realiti Sdn Bhd with a 10.31% stake, Sanichi founder and group managing director Datuk Seri Dr Jacky Pang Chow Huat (8.12%) and Pembinaan Viana Sdn Bhd (7.18%).

Interestingly, Sanichi is the largest shareholder in PDZ with a 13.42% stake in the company, while Wong is the second largest shareholder with 9.87%.

Pang is not new to the investing fraternity, as he holds stakes in several listed entities. He hogged the limelight in late March when he sold his 49.76% stake in Computer Forms (M) Bhd after the stock plunged from its peak at around RM2.90 to 22 sen.

More recently, on Monday, Pang emerged as a substantial shareholder of Apex Equity Holdings Bhd with a 9.69% stake in the stockbroking firm.

Shares in Fitters Diversified closed unchanged at four sen, giving the company a market capitalisation of RM99 million.

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PDZ executive director reemerges as Fitters Diversified substantial shareholder with 10.35% stake