Silver Ridge’s largest shareholder Khoo Yik Chou loses substantial shareholder status after forced sale
Datuk Khoo Yik Chou is no longer a substantial shareholder of Silver Ridge Holdings Bhd following a forced sale of 15.7% of the company's shares. The move follows a period of significant leadership turnover within the firm.
Why it matters
Forced share disposals and leadership changes can signal instability or financial pressure within publicly traded companies.
BURSA SGX Home Highlight Make The Edge Malaysia your preferred source on Google KUALA LUMPUR (July 29): Silver Ridge Holdings Bhd’s (KL: SRIDGE ) largest shareholder Datuk Khoo Yik Chou has ceased to be a substantial shareholder after a forced disposal of approximately 64.5 million shares, representing a 15.7% stake, following a margin call.
The disposal took place on July 27, according to the group’s filing with Bursa Malaysia on Wednesday. Following the transaction, Khoo’s direct shareholding fell to 2.02%, while his indirect stake stood at 0.49%, taking his total interest below the 5% threshold required to be classified as a substantial shareholder.
The filing did not disclose the price at which the shares were disposed of. Based on Silver Ridge’s closing price of 16 sen on July 27, the block was worth about RM10.3 million.
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