KUALA LUMPUR: Malaysia Steel Works (KL) Bhd managing director and chief executive officer Datuk Seri Tai Hean Leng saw his shareholding increase to 31.76% or 66.93 million shares after the recent acquisition of 2.85 million shares.
A filing to Bursa Malaysia showed TYY Resources Sdn Bhd, in which he is deemed interest, acquired the shares on Feb 25 at RM1.38 each.
The integrated steel manufacturer turned around to profitability in the financial year ended Dec 31, 2010 on the back of a record RM1 billion in revenue.
Masteel recorded net profit of RM28.18 million compared to net loss of RM8.09 million in FY09, while revenue rose 46.2% to RM1 billion from RM687.26 million in FY09.
The strong year-on-year growth was due to the increased demand for its products as well as higher prices.
A filing to Bursa Malaysia showed TYY Resources Sdn Bhd, in which he is deemed interest, acquired the shares on Feb 25 at RM1.38 each.
The integrated steel manufacturer turned around to profitability in the financial year ended Dec 31, 2010 on the back of a record RM1 billion in revenue.
Masteel recorded net profit of RM28.18 million compared to net loss of RM8.09 million in FY09, while revenue rose 46.2% to RM1 billion from RM687.26 million in FY09.
The strong year-on-year growth was due to the increased demand for its products as well as higher prices.
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