Asian Pac (3)

Major Shareholder Busy Buying From Open Market

Publish date: Thu, 30 Oct 2014, 10:34 AM

---

Over a period of one month, one of Asian Pac's major shareholder, Mah Sau Cheong, acquired more than 10 million shares from open market at price as high as 30.5 sen.

In my opinion, this is a positive development and is an indication that the company is closed to reporting some good news in the immediate future.

It is very likely related to the scheduled opening of Imago Mall at Kota Kinabalu by end of 2014. With retail floor space of 800,000 square ft, the Mall can potentially contribute net earnings of closed to RM30 mil per annum to the Group upon becoming fully operational.

In the latest annual report released in September 2014, the Company mentioned that the Mall has secured 80% tenancy.

As mentioned in Part 1 and 2 of my earlier articles, the opening of the Mall will likely trigger a re-rating of the stock. 

http://klse.i3investor.com/blogs/icon8888/49095.jsp

http://klse.i3investor.com/blogs/icon8888/49645.jsp

Maybe it is time to take a closer look at this company.

The table below sets out the details of Mah's buying activities :-

	Shares	Price Paid	Shares
Date	Acquired	(RM)	Held
16 Oct 2014	450,000	0.228	177,687,869
15 Oct 2014	900,000	0.257	177,237,869
14 Oct 2014	551,000	0.265	176,337,869
13 Oct 2014	500,000	0.270	175,786,869
10 Oct 2014	344,000	0.270	175,286,869
8 Oct 2014	500,000	0.275	174,942,869
7 Oct 2014	500,000	0.295	174,442,869
7 Oct 2014	1,840,000	0.292	173,942,869
3 Oct 2014	350,000	0.300	172,102,869
2 Oct 2014	1,000,000	0.300	171,752,869
1 Oct 2014	330,000	0.305	170,752,869
26 Sept 2014	858,400	0.300	170,422,869
25 Sept 2014	241,600	0.300	169,564,469
24 Sept 2014	800,000	0.300	169,322,869
23 Sept 2014	500,000	0.305	168,522,869
22 Sept 2014	500,000	0.305	168,022,869
19 Sept 2014	500,000	0.305	167,522,869
TOTAL	10,665,000

Have a nice day.