KUALA LUMPUR: UBS AG for Artradis Barracuda Fund ceased to be substantial shareholder of Prinsiptek Corp Bhd after it disposed of 4.53 million shares on Jan 11.
Filing with Bursa Malaysia showed after the latest disposal of the 3.57% stake, its shareholding was reduced to 3.95%.
The share price closed at 32 sen in active trade with 18.5 million shares done.
The fund had on Jan 10 disposed of 5.5 million shares on Jan 10, reducing its stake to 9.53 million shares or 7.52%.
In December, Prinsiptek announced it plans to undertake an estimated RM100 million mixed development on a newly acquired leasehold'' land in Section 7, Shah Alam, Selangor.
Prinsiptek said the project involving serviced apartments and shoplots, is expected to generate a profit of approximately RM25 million, based on a development cost of some RM90 million.
Filing with Bursa Malaysia showed after the latest disposal of the 3.57% stake, its shareholding was reduced to 3.95%.
The share price closed at 32 sen in active trade with 18.5 million shares done.
The fund had on Jan 10 disposed of 5.5 million shares on Jan 10, reducing its stake to 9.53 million shares or 7.52%.
In December, Prinsiptek announced it plans to undertake an estimated RM100 million mixed development on a newly acquired leasehold'' land in Section 7, Shah Alam, Selangor.
Prinsiptek said the project involving serviced apartments and shoplots, is expected to generate a profit of approximately RM25 million, based on a development cost of some RM90 million.
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