KUALA LUMPUR (June 14): Fitters Diversified Bhd (KL:FITTERS) said Cita Realiti Sdn Bhd has ceased to be its largest shareholder after selling a 6.26% stake in the fire protection equipment supplier on Friday.

Cita Realiti offloaded the stake comprising 147.47 million shares via the open market, bringing down its shareholding to 4.47% from 10.73% previously, said Fitters Diversified in a filing with the stock exchange.

According to Bloomberg data, the largest shareholder now is Ho Jien Shiung, an executive director of PDZ Holdings Bhd (KL:PDZ).

Other substantial shareholders include Datuk Seri Dr Pang Chow Huat, also known as Jacky Pang, with an 8.36% stake, and Wong Wei We with a 7.98% stake.

Cita Realiti had emerged as Fitters Diversified’s largest shareholder in March 2022 with a 10.01% stake. It is currently the largest shareholder in Metronic Holdings Bhd (KL:MTRONIC) with a 17.29% stake.

Fitters Diversified has been loss-making since its financial year ended March 31, 2022 (FY2022). For FY2024, the company trimmed its net loss to RM16.48 million from RM67.83 million, due to the disposal of a unit for RM3.2 million and the resulting debt write-off of RM10.1 million.

Shares of Fitters Diversified closed up 11.11% or half a sen at five sen on Friday, giving the group a market capitalisation of RM105.93 million. The counter, however, has fallen over 16% year-to-date.