Sunsuria shares up 16% in active trade

• According to its 2022 annual report, as at Dec 30, 2022, executive chairman Tan Sri Ter Leong Yap is the largest shareholder of the company with a direct interest of 168.84 million shares representing a 18.85% stake, and an indirect stake of 368.67 million shares (41.15%) by way of his substantial shareholdings in Ter Equity Sdn Bhd, Ter Capital Sdn Bhd and THK Capital Sdn Bhd.

KUALA LUMPUR (Aug 10): Property developer Sunsuria Bhd saw its share price went up by 15.96% and was actively traded on Thursday's (Aug 10) morning session on Bursa Malaysia.

It reached an intra-day high of 54.5 sen before paring gains by 5.5 sen or 11.70% to 52.5 sen. It is higher than its last closing price of 47 sen on Wednesday.

At 54.5 sen, the  counter is at its highest since May 3, when it closed at 57 sen.

In terms of volume, the counter saw 18.91 million shares change hands so far, exceeding its 200-day average volume of 2.48 million shares.

Based on Bloomberg's data, its year-to-date share price rose by 59.09%, while its shares for the 12-month period increased by 52.17%.

According to its 2022 annual report, as at Dec 30, 2022, executive chairman Tan Sri Ter Leong Yap is the largest shareholder of the company with a direct interest of 168.84 million shares representing a 18.85% stake, and an indirect stake of 368.67 million shares (41.15%) by way of his substantial shareholdings in Ter Equity Sdn Bhd, Ter Capital Sdn Bhd and THK Capital Sdn Bhd.

Other substantial shareholders include Ter Equity (20.38%), Ter Capital (20.46%) and Ruby Technique (5.06%).

Its last changes in shareholdings involve its independent non-executive director, Datuk Quek Ngee Meng disposing 193,300 shares on April 19, leaving him 50,000 shares or 0.006% on from 243,300 (0.03%) in Dec 2022.

Last week, the company appointed Tan Wee Bee as its new group chief executive officer effective Aug 1.

Tan, 52, has over 26 years of international experience in the property development and construction industries, having held leadership positions at other property companies.

On June 22, Sunsuria’s unit acquired an 80% equity interest in property developer Mayer Land Sdn Bhd (MLSB) for RM800,000,  which enabled it to participate in two Rumah Selangorku projects and a mixed development in Penang that have been awarded to MLSB.

Its wholly-owned subsidiary Sunsuria Symphony Sdn Bhd (SSSB) will be acquiring MLSB’s shares through internally-generated funds from Ong Thuan Bok and Kho Weng Kooi — 640,000 shares (64%) from Ong and 160,000 shares (16%) from Kho.

Ong will be left with 16% in MLSB following Sunsuria's entrance, while Kho will have 4%.

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