KUALA LUMPUR, Former chairman of Systech Bhd, Datuk Chan Soon Tat, has emerged as a substantial shareholder in the company after acquiring 10 million shares, representing a 5.68% stake, on Oct 28, according to the group’s latest filing with Bursa Malaysia.
The move marks Chan’s re-entry into a more significant role in the company’s ownership structure, signalling renewed confidence in Systech’s growth prospects — particularly as the group pivots further into artificial intelligence (AI) and digital infrastructure services.
In a separate filing, Systech announced that it has secured a two-year contract with Tujuh Warisan Sdn Bhd to deliver GPU-as-a-service, AI solutions, and Internet-of-Things (IoT) infrastructure via its wholly owned subsidiary, Systech Digital Solutions Sdn Bhd.
The agreement, effective Oct 31, covers the deployment of advanced AI infrastructure and high-performance GPU systems, which will support a range of data-intensive applications. The deal includes an automatic one-year renewal clause unless terminated by either party, with payments to be settled within seven days of invoicing. While the exact contract value was not disclosed, Systech noted that the project will contribute positively to its earnings visibility over the contract period.
The timing of Chan’s stake acquisition coincides with notable changes in Systech’s shareholder composition. Former managing director Datuk Hooi Jia Hao reduced his holding to below the 5% threshold after disposing of 26 million shares on Oct 24. Meanwhile, Hooi’s investment vehicle, Smartpro Capital Bhd, had earlier exited its remaining 4.19% stake. As of July 30, 2025, Smartpro had been the company’s largest shareholder with a 27.48% interest.
Following these movements, executive chairman Datuk Ong Theng Soon is now Systech’s largest shareholder, holding a 2.6% direct and 10.88% indirect stake through his spouse Liew Su-Wen. Executive director Low Min Yew holds 5.1% directly and 5.3% indirectly via LMY Holdings Sdn Bhd, which has become an increasingly influential shareholder. Other key investors include Lim Ying Ran, Goh Yit Fong, and national cyclist Datuk Mohd Azizulhasni Awang, who also hold indirect interests through LMY Holdings. Notably, LMY Holdings became a substantial shareholder on Oct 17 with a 5.277% stake.
Systech, which is expanding into cloud-based and AI-driven services, has seen heightened market attention following its recent push into digital transformation initiatives. The company said it aims to position itself as a leading regional provider of secure, scalable AI and IoT infrastructure solutions.
On Friday, Systech’s shares slipped half a sen or 2.4% to 20.5 sen, valuing the group at RM135.2 million. Year to date, the counter has declined by about 30.5%, though analysts believe the group’s strategic contracts and evolving shareholder base could signal a more stable outlook in the coming quarters.
