MPHB Sells Latexx Shares

MULTI-PURPOSE Holdings Bhd (MPHB) has sold a big block of shares in rubber glove maker Latexx Partners Bhd, just a day after it bought the shares at a massive discount.

It sold the 32.3 per cent stake at a slightly higher price of RM21.68 million, giving it a gain of about RM320,000.

This was done by MPHB’s stockbroking unit, AA Anthony Securities Sdn Bhd, and the deals are said to be in the normal course of business.

Meanwhile, new shareholders have emerged in Latexx while an existing investor has raised his stake.

Teong Lian Aik, based in Taiping, bought 14.85 per cent stake, or 28.5 million shares, yesterday through a direct business transaction.

Existing shareholder Low Bok Tek, who has about 5 per cent stake in Latexx, has raised his shareholding to over 20 per cent. He now has a direct and indirect stake of 38.94 million shares.

Low is also the chairman of Gunung Capital Bhd, the company formerly known as Taiping Super Bhd.

Last year, Gunung Capital sold off its coach building business, tour and travel business as well as its express bus business so that it can focus on its latex concentrate trading business.

Shares of Latexx were down 5.6 per cent, or seven sen, to RM1.17 yesterday while MPHB closed 0.4 per cent up to RM2.37.

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