KUALA LUMPUR, Hextar Capital Bhd has further strengthened its position in Binasat Communications Bhd, raising its shareholding by 4.1% to 29.8%, according to the telecommunications support service provider’s filing on Wednesday.
The additional 24.7 million shares were acquired via Hextar Capital’s wholly owned subsidiary, Opcom VC Sdn Bhd. While the purchase price was not disclosed, the shares are estimated to be worth around RM2.72 million based on Binasat’s closing price of 11 sen on Wednesday.
Binasat’s largest shareholder, Datuk Eddie Ong Choo Meng — who also controls the Hextar Group — has diversified interests across chemicals, agriculture, industrial products and renewable energy. Ong also holds major stakes in several listed companies, including Hextar Global Bhd, Hextar Industries Bhd, and Hextar Healthcare Bhd.
Opcom VC, which focuses on project management services such as the supply of cables, hardware, engineering consultancy, and IT solutions, is the vehicle through which Hextar Capital made the purchase.
Hextar Capital became the controlling shareholder of Binasat in January 2024 after completing its acquisition of a majority stake.
At Wednesday’s close, Binasat’s shares fell half a sen or 4.35% to 11 sen, valuing the company at RM66.5 million.
