KUALA LUMPUR (Feb 4): Lembaga Tabung Haji has ceased to be a substantial shareholder of Focus Point Holdings Bhd (KL:FOCUSP) after disposing of a 0.11% stake in the optical retail chain operator.

The pilgrimage fund sold the stake, comprising 500,000 shares on Monday, according to its exchange filing on Tuesday.

The fund emerged as Focus Point’s substantial shareholder just a week ago, when it bought a 0.05% stake or 250,000 shares on Jan 28, pushing its shareholding beyond the 5% threshold necessary to be deemed a substantial shareholder.

After disposing of the 500,000 shares on Monday, Lembaga Tabung Haji's stake in Focus Point has fallen to 4.95%, from 5.06% previously.

The value of the transaction was not disclosed, though the block of shares would be worth RM415,000 based on Focus Point’s closing price of 83 sen on Monday.

Focus Point president and chief executive officer Datuk Liaw Choon Liang is the company’s largest shareholder with a 50.99% stake, followed by Perbadanan Nasional Bhd with a 8.44% stake.

Shares of Focus Point closed unchanged at 83 sen on Tuesday, giving the company a market capitalisation of RM381.15 million.