KUALA LUMPUR (July 4): HCK Capital Group Bhd executive chairman Clement Hii purchased a 5.16% stake in the property developer for RM50 million, raising his total stake in the group to 57%.

According to a bourse filing on Tuesday (July 4), the Sarawakian tycoon’s vehicle Hiichiikok Equities Sdn Bhd purchased 25.84 million shares on June 30 at RM1.935 apiece — which amounts to RM50 million based on back-of-the-envelope calculations.

The share purchase raised Hii’s indirect stake in HCK Capital to 56.59% or 283.14 million shares, while his direct stake remains at 0.41% or 2.05 million shares.

Besides Hii, HCK Capital’s other substantial shareholder is Kenanga Investors Bhd, with a 13.81% stake.

For the first quarter ended March 31, 2023 (1QFY2023), HCK Capital posted a near four-fold surge in net profit to RM4.29 million, from RM1.08 million a year earlier, as an increase in sales and property development progress bumped revenue 38.95% higher to RM44.61 million versus RM32.1 million previously.

Shares in HCK Capital ended seven sen or 3.18% lower at RM2.13 on Tuesday, giving the group a market capitalisation of RM1.07 billion.

Year-to-date, the counter has fallen by 0.47%.