KUALA LUMPUR (Aug 4): Analabs Resources Bhd said it has acquired quoted securities in Malayan Banking Bhd (Maybank) with an aggregate value of RM21.57 million, which exceeded 5% of the industrial waste recycling services provider’s audited consolidated net assets as of April 30, 2022.

In a bourse filing on Friday (Aug 4), Analabs said the shares were acquired during the period from Dec 21, 2022 to Aug 4, 2023, and was funded by the group’s share margin account.

The group said that the shares were purchased in the open market at prevailing prices as quoted on Bursa Malaysia Securities.

“The acquisitions were carried out with the intention of deriving dividend income and for potential capital gains,” it added.

Analabs said the acquisitions have no material effect on the group’s earnings and net assets for the financial year ending April 30, 2024 as well as its gearing, share capital and its substantial shareholder’s shareholding in the group.

Analabs shares were last traded at RM1.44,  valuing the group at RM172.87 million. Meanwhile, Maybank rose one sen or 0.11% to RM8.91 for a market capitalisation of RM107.4 billion.