Eddie Ong ceases to be substantial shareholder of Perak Transit

• Datuk Eddie Ong Choo Meng sold the stake, comprising 16.79 million shares, on Wednesday, according to the Main Market-listed group in a filing on Thursday.

KUALA LUMPUR (April 17): Datuk Eddie Ong Choo Meng (pictured) has ceased to be a substantial shareholder of Perak Transit Bhd (KL:PTRANS), after disposing of a 1.5% stake in the developer and operator of integrated public transportation terminals.

The businessman sold the stake, comprising 16.79 million shares, on Wednesday, according to the Main Market-listed group in a filing on Thursday.

After the sale, Ong’s stake in Perak Transit dropped from 6.4% to 4.9%.

The value of the transaction was not disclosed, though the block of shares would be worth RM12 million based on Perak Transit’s closing price of 72 sen on Wednesday.

Perak Transit managing director Datuk Seri Cheong Kong Fitt is the company’s largest shareholder with a 21.31% stake, followed by Tan Sri Danny Tan Chee Sing with a 6.18% stake.

Ong is no stranger to the investing community, given his interests in various local listed firms.

He is also a major shareholder of listed companies such as Hextar Global Bhd (KL:HEXTAR), KIP Real Investment Trust (KL:KIPREIT), Hextar Healthcare Bhd (KL:HEXCARE), Hextar Industries Bhd (KL:HEXIND), Hextar Technologies Solutions Bhd (KL:HEXTECH), Hextar Capital Bhd (KL:HEXCAP), as well as Hextar Retail Bhd (KL:HEXRTL).

Perak Transit shares settled unchanged at 72 sen on Thursday, valuing the group at RM816.7 million.

Want to have a more personalised and easier house hunting experience? Get the EdgeProp Malaysia App now.