#Update* SEGi MD emerges as substantial holder in SYF Resources

By Syarina Hyzah Zakaria of theedgemalaysia.com | The Edge Malaysia – Fri, Jun 1, 2012

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KUALA LUMPUR (June 1):, SEGi group managing director Datuk Seri Clement Hii Chii Kok has emerged as a substantial shareholder in SYF Resources Bhd after buying a 10% stake in the furniture maker on May 31.

In filings to Bursa Malaysia on Friday, SYF Resources said Hii made the purchase via his private investment vehicle, HCK Equities Sdn Bhd.

On Thursday morning, some 27.09 million shares representing a 10% stake in the company were traded off-market.

The tranche worth RM13.55 million was done at 50 sen a share, a 3% premium to yesterday's market price of 48.5 sen.

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