birkincollector

birkincollector | Joined since 2015-08-30

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2023-06-16 21:16 | Report Abuse

KUALA LUMPUR (June 16): Hildrics Asia Growth Fund I’s wholly owned subsidiary HAGF Investment (I) Pte Ltd emerged as GIIB Holdings Bhd’s substantial shareholder after acquiring 48.61 million ordinary shares, or an 8.221% stake.

Hildrics Asia is a Singapore-based private equity fund managed by Hildrics Capital Pte Ltd, which was founded in 2021 by Choo Kee Siong and Wee Teng Chuen, according to a statement on Friday (June 16).

Hildrics Capital primarily focuses on direct investments into mid-sized companies with high growth prospects in Southeast Asia, it added.

“We are pleased to partner with GIIB, a leading Malaysian rubber product manufacturer with an established track record of close to 30 years and extensive presence across 60 countries, to support its next growth phase and expansion plans,” said Choo, who is also the CEO of Hildrics Capital.

The investment activity with GIIB marks Hildrics Capital’s first investment in Malaysia.

Following the investment, HAGF is now the second-largest shareholder of GIIB, after Tai Qisheng who holds an 11.45% stake, according to Bloomberg data.

Qisheng is GIIB’s executive director and the son of GIIB executive chairman and chief executive officer Tai Boon Wee.

Qisheng became the company’s biggest shareholder after his father transferred 45.81 million shares or a 7.775% stake to him via an off market transaction on June 13, 2023.

Meanwhile, Boon Wee is left with 9.6 million shares or a 1.62% stake.

“We warmly welcome Hildrics Capital as our shareholder, which is the first foreign institutional fund to invest in us. With a shared common vision and goals for the group, I look forward to working with them to scale our group to the next level,” Qisheng commented.

GIIB shares remained unchanged at 9.5 sen on Friday, valuing the company at RM56.2 million.

On Thursday, GIIB announced that Boon Wee and two other executive directors had been remanded by the MACC on May 31 for investigation of unlawful activities.

Activities that are being investigated were in relation to the issuance of invoice and proceeds banked into GIIB's account, inflation of debts of a subsidiary company in a Bursa Malaysia announcement and unauthorised payments to persons unknown.

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2023-06-15 19:16 | Report Abuse

lol fast fast transferred all his shares to his son

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2023-06-07 14:12 | Report Abuse

very huat thank u

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2023-06-02 14:28 | Report Abuse

looks like goreng soon

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2023-05-31 19:28 | Report Abuse

yay good results...tmr goreng

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2023-05-31 17:27 | Report Abuse

Oh nice results wor...tmr should finally rebound

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2023-05-29 18:58 | Report Abuse

Nice. Can play like bahvest tmr hehe

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2023-05-28 13:19 | Report Abuse

kasi harga runtuh pls ;-)

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2023-05-26 17:43 | Report Abuse

Wow surprisingly good results

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2023-05-24 14:41 | Report Abuse

netflix charging more....good news for Astro?

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2023-05-17 22:01 | Report Abuse

At least we know wat actually happened. Before all guessing games

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2023-05-17 17:44 | Report Abuse

I think its good news. The culprits caught. The newcomers were right.

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2023-05-15 13:36 | Report Abuse

oh finally some good news

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2023-05-11 14:03 | Report Abuse

Lo sold out.....so there won't be any sudden drop in millions lots again like yesterday

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2023-05-10 18:52 | Report Abuse

Hehe temporary cease fire tmr nice show

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2023-05-10 15:45 | Report Abuse

lol played like bahvest

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2023-05-10 11:50 | Report Abuse

traders heaven lol

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2023-05-10 10:22 | Report Abuse

played so many rounds...so shiok hehe

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2023-05-09 15:13 | Report Abuse

yes nice rebound hehe

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2023-05-03 14:15 | Report Abuse

lol so much drama

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2023-04-28 09:55 | Report Abuse

oh my god thank u wa.......5k lot stuck for ages and didnt kow it flies lol

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2023-04-27 13:53 | Report Abuse

limit down coming

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2023-04-26 10:46 | Report Abuse

The STAR sunset business also Tong wanna buy and people push....whens ASTRO turn? lol

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2023-04-20 22:21 | Report Abuse

no free lunch lol

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2023-04-18 21:43 | Report Abuse

since when u see companies admitted to any rumours in early stage?

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2023-04-17 19:38 | Report Abuse

took the risk and jumped in early today still gained good profit..thanks u

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2023-04-13 09:27 | Report Abuse

aiya no games....hardly dropped

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2023-04-08 15:52 | Report Abuse

its on The Edge weekly frontpage published this weekend

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2023-04-08 14:42 | Report Abuse

REACH is selling khazathan oil fields according to The Edge

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2023-04-04 09:20 | Report Abuse

pity those bought high

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2023-04-03 14:00 | Report Abuse

finally no more extension...see wat fox do next lol

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2023-03-31 14:57 | Report Abuse

biohlding just announced their bio hub in hainan approved today, coincidently Anwar also in hainan for Boao.......surely something is on

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2023-03-31 14:46 | Report Abuse

KUALA LUMPUR (March 31): Health supplement company Bioalpha Holdings Bhd has received approval from China’s local authority to develop a 21-acre Malaysian Agricultural Hub in Hainan.

In a statement on Friday (March 31), the group said the initial phase of the hub will focus on the upstream and downstream activities such as formulation, manufacturing and even commercialisation of functional food products using Malaysian indigenous and tropical herbs.

“Within the hub, the planned development of a research and development facility and factory complex on site can further bolster the group’s formulation and manufacturing activities.

“As announced earlier in July 2022, this endeavour will also allow Bioalpha to be eligible for tax incentives and exemptions offered by the local government,” Bioalpha explained.

Bioalpha managing director William Hon said the hub, which will take three to five years to complete, is expected to contribute positively to the group.

“Having received the approval by the authority for our Master Development Plan, we are now working on the next steps in order to get the project to kick off. As part of our strategic focus to grow our presence in Hainan, we have also established our China headquarters there,” he said.

“Besides our involvement to develop the hub, we also supply health foods to customers in Guizhou, China. Leveraging the group’s infrastructure and resources in China, we have ready capacity and are able to facilitate and expedite orders more efficiently,” Hon added.

Bioalpha has been a loss-making company since the financial year ended Dec 31, 2020 (FY2020).

In FY2022, the group widened its net loss to RM46.7 million from RM1.3 million a year earlier as revenue declined to RM35.8 million from RM96.7 million.

“All in all, we are focused on executing our strategic initiatives in China, particularly in Hainan, to capitalise on arising opportunities. To support our plans, we have expanded our headcount and hired new experienced talents in China to accelerate our expansion,” Hon concluded.

At Friday's noon break, Bioalpha's share price was unchanged at 11.5 sen, with a market value of RM133.36 million.

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2023-03-27 09:26 | Report Abuse

waiting for menang wc to crash and burn lol

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2023-03-13 12:18 | Report Abuse

gogo tumpang Michelle Yeoh lol

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2023-03-09 16:28 | Report Abuse

but vol extraordinary high....could be true but timing

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2023-03-06 09:55 | Report Abuse

Finally good news for EKVE......AZRB should rebound from now on

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2023-03-02 16:52 | Report Abuse

wah ok just announced......take over at 0.855....drbhcom next lol

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2023-03-02 15:42 | Report Abuse

wah really privatise??