KUALA LUMPUR (May 23): Datuk Seri Andy Lim Kok Han has emerged as a substantial shareholder of GIIB Holdings Bhd, after buying 125.93 million shares in the rubber compound manufacturing company through an off market trade.

Lim, 53, has been a non-executive director of Green Packet Bhd since November 2022, and holds an 18.09% stake in the company.

A filing with Bursa Malaysia on Tuesday (May 23) revealed that the acquisition was done on May 19, but the transacted price was not disclosed.

In a back-of-the-envelope calculation, the block of shares would have cost Lim RM11.96 million based on May 19’s closing price of 9.5 sen.

Following the acquisition, Lim now holds a 21.297% stake in GIIB.

The block was presumably acquired from Yee Voon Hon, who is a director of GIIB's subsidiaries Glomaxes Latex Glove Manufacturer Sdn Bhd and GIIB Healthcare Products Sdn Bhd. On Monday, GIIB announced that Yee had disposed of the same amount of shares on May 19 and ceased to be a substantial shareholder of the company.

GIIB shares closed unchanged at 9.5 sen on Tuesday, giving the group a market capitalisation of RM53.36 million. Its share price had fallen 5% year to date.