KUALA LUMPUR (Sept 2): MCA, a component party of Barisan Nasional, has emerged as a substantial shareholder of car leather upholstery maker Pecca Group Bhd with a 5.7% stake.

The party, through Huaren Holdings Sdn Bhd, bought 3.68 million shares on Tuesday (Aug 30) and 4.37 million shares on Thursday (Sept 1), raising its total interest to 42.73 million shares, according to Pecca's stock exchange filings on Friday (Sept 2).

Pecca is 49.6%-controlled by MRZ Leather Holdings Sdn Bhd, the investment vehicle of founder and group managing director Datuk Teoh Hwa Cheng and his family.

Teoh personally has a direct interest of 3.2% in Pecca, while his wife Datin Sam Yin Thing owns a 6.7% stake.

Other substantial shareholders in the group include Lim Cheng Ling (5.8%) and the Retirement Fund Inc (KWAP) (5.1%).

Shares of Pecca, which surged 31% in less than two months, closed unchanged at 83.5 sen on Friday, giving the group a market capitalisation of RM642.7 million.