Rosland Othman (Photo by Suhaimi Yusuf/The Edge)
KUALA LUMPUR (June 29): Sarawak Consolidated Industries Bhd’s (SCIB) group managing director and chief executive officer (CEO) Rosland Othman has disposed of 10.16 million shares, or a 2.07% stake, in the group for RM4.88 million.
Following the disposal, Rosland holds 26.14 million shares or a 5.33% stake in SCIB, according to the group’s filing with Bursa Malaysia.
Rosland sold the 10.16 million shares in two blocks in the open market yesterday (June 28) at 47.56 sen and 48.13 sen per share.
The prices represent a premium of 4.53% and 5.78% over the stock’s closing price of 45.5 sen yesterday.
Today, the stock closed at 46 sen for a market capitalisation of RM226 million. The trading volume was 64.94 million shares.
SCIB, which has been linked to Serba Dinamik Holdings Bhd group managing director and CEO Datuk Dr Mohd Abdul Karim Abdullah, has come under selling pressure after Serba Dinamik’s audit woes surfaced at the end of May.
The counter has since declined by 69% from RM1.48 on May 25.
Serba Dinamik has been embroiled in an auditing dispute with its former external auditor KPMG, after the latter highlighted discrepancies involving transactions to the tune of RM4.54 billion to the group’s independent directors last month.
