KUALA LUMPUR (Jan 24): Signature International Bhd’s co-founder Datuk Michael Chooi Yoey Sun has emerged as a substantial shareholder of EcoFirst Consolidated Bhd, confirming The Edge Weekly report in its Jan 17-23 edition.
According to a statement on Monday (Jan 24), Chooi, who is also a major shareholder of Scanwolf Bhd, has acquired 20 million EcoFirst’s shares or 1.72% direct stake from the open market in the last two weeks.
He then further acquired another 40 million shares or 3.44% indirect stake via an off-market transaction through Wawasan Fokus Sdn Bhd.
In total, Chooi has a 5.16% stake in the property company.
“Chooi is best known for co-founding Signature Kitchen with his partner Tan Kee Choong back in 1994, where they supplied and installed built-in kitchen and wardrobe systems.
“Signature International was subsequently listed on the Main Board of Bursa Malaysia in 2008.
“Known as a sales and marketing specialist with almost 30 years of experience, Chooi grew Signature Kitchen, where its kitchen cabinets soon made [their] mark in upmarket property projects. Signature also made inroads abroad via some 15 different markets,” it said.
Datuk Michael Chooi Yoey Sun, co-founder of kitchen cabinet and wardrobe systems manufacturer Signature International Bhd, has emerged in EcoFirst with a 5.16% stake.
Within corporate circles, Chooi is known for his sales and marketing prowess particularly in the property and construction sector.
His emergence in EcoFirst follows his acquisition of a 12.878% stake in Scanwolf Bhd last September. Scanwolf is a Perak based company involved in property and plastic extrusion.
Now Chooi appears to have his eyes set on EcoFirst.
Investors are starting to notice undervalued property stocks after years of doldrum. Some of these property companies own huge tracts of land bought at deep bargains.
With the return of the talks about MRT3, EcoFirst could be a beneficiary.
EcoFirst’s land is right next to MRT3. Prime land bought at cheap cost.
EcoFirst is looking to make a comeback, anchored on the good location of its landbanks as well as the affordable prices of its properties.
buy buy buy! don't miss the train!!! TP RM1.20 !! Reason: 1) the chart is very good and based on fundamental analysis. 2) I heard big project coming in. as you can see today open market high already. so buy now before too late!!! GOGOGO
usually when they have big project coming up, the people behind will do things like this. so it is the best time to buy more. I have looked into many charts, and if you panic you will lose
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nik5007
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Posted by nik5007 > 2021-07-29 09:04 | Report Abuse
Gogogo warrant.. 10¢