1.1% of ML Global shares traded off-market

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KUALA LUMPUR (Dec 31): ML Global Bhd, formerly VTI Vintage Bhd, saw 1 million shares or a 1.1% equity interest transacted off-market at 11:02am today.

According to Bloomberg data, the block of shares were transacted at 50 sen per share, 17.6% above its share price of 42.5 sen at the time of the transaction.

ML Global constructs commercial and residential buildings and operates as a contractor for plumbing and sanitary engineering works.

Filings with Bursa Malaysia showed that property developer, LBS Bina Group Bhd, has accumulated 736,000 or 0.8% of ML Global shares this month.

As at Dec 30, LBS Bina holds 21.27% or 19.07 million shares in ML Global, emerging as the second largest shareholder.

ML Global managing director Datuk Beh Hang Kong holds 26.08 million shares or 29.1% stake in the company, and is the single largest shareholder.

In February 2012, the loss-making company was classified as a Practice Note 17 (PN17) company after its shareholders’ equity fell to less than 25% of its paid-up share capital.

ML Global closed 6.02% or 2.5 sen higher at 44 sen today, giving it a market capitalisation of RM38.54 million.