Markets
Tabung Haji pares stake in Cheetah
Johnny Loh | 05 Jan 2018 00:30
Tabung Haji has trimmed its stake in Cheetah by 4.79% stake to 3.24%
Lembaga Tabung Haji has ceased to be the substantial shareholder of Cheetah Holdings Bhd. A filing with Bursa Malaysia on Dec 29 reveals that the Pilgrims Fund Board disposed 5.5 million shares or a 4.79% stake in the company, thus reducing its stake to 3.24%.

Prior to this, the latest Cheetah’s share disposal/acquisition by Tabung Haji took place on July 22, 2014. Interestingly, a filing with Bursa on Jan 2 shows that Cheetah’s chairman and managing director Chia Kee Foo acquired 3.5 million shares or a 3.05% stake to raise his shareholdings to 13.53%.

Cheetah is engaged in the product designing, development, marketing and retailing of sports apparel and accessories. For its Q1 ended Sept 30, the company’s net loss widened to RM2.74 mil from RM1.63 mil in the previous corresponding quarter.

The higher loss was mainly due to lower revenue as a result of no festive sales. The counter closed 49.5 sen on Jan 4, up eight sen from 41.5 sen a year ago.