KUALA LUMPUR: Chuah Theong Yee, founder of property developer Mitraland Group, is no longer a substantial shareholder in Eonmetall Group Bhd following a recent disposal of shares in the open market.
According to a filing with Bursa Malaysia on Friday, Chuah disposed of 410,000 shares in the steel products manufacturer, reducing his stake by 0.13%. The sale brought his total equity down to 4.99%, falling below the 5% threshold that qualifies an investor as a substantial shareholder under Malaysian market regulations.
Chuah initially acquired a 7.3% stake in Eonmetall in October 2022, maintaining the position until May 2025, when he began to gradually pare down his holdings.
Eonmetall’s largest shareholder remains its executive director Datuk Goh Cheng Huat, who holds a 41.08% interest in the company. He is followed by Datuk Seri Lee Hock Seng, executive chairman and major shareholder of Magma Group Bhd, who owns an 8.21% stake.
Shares in Eonmetall were not traded on Friday. The counter last closed at 25 sen on 4 June, giving the company a market capitalisation of RM76.95 million.
-The Edge Malaysia
