KUALA LUMPUR (March 5): Genetec Technology Bhd (KL:GENETEC) co-founder Aaron Chen Khai Voon has emerged as a substantial shareholder in Sunzen Group Bhd (KL:SUNZEN).
According to a bourse filing, Chen acquired 32.7 million shares, representing a 4.3% interest, via a direct business deal on March 4. Following the purchase, he now holds an 8.51% stake in Sunzen. This makes him the second largest shareholder of the company. Group managing director Teo Yek Ming is its largest shareholder with a direct 14.685% stake.
No price was disclosed in the filing. Based on the volume-weighted average price (VWAP) of 25.5 sen, the block is estimated to have cost RM8.34 million.
Sunzen, once focused on traditional animal health products, has shifted its core business to human health products and loan financing services. The group has remained profitable since FY2021, though with modest earnings.
For the first half ended Dec 31, 2025 (1HFY2026), Sunzen reported a net profit of RM7.54 million, a sharp increase from RM2.42 million a year earlier, while revenue was largely unchanged at RM49.92 million.
The stronger performance was driven by its human health division, which swung to profit from a loss, and a 63% jump in loan financing profit, supported by higher interest income and bad debt recovery.
Genetec was a star performer in 2021, when its share price surged from below 40 sen to a high of RM3.82 (adjusted for bonus issue), gaining attention as a proxy to Tesla’s prospects. Its shares closed unchanged at 15.5 sen a share on Thursday.
Chen exited as a substantial shareholder in May 2025 and, as of end-September, was no longer among Genetec’s top 30 shareholders.
Currently, Chen is also a major shareholder of Seal Incorporated Bhd (KL:SEAL) with a 28.65% stake, TSA Group Bhd (KL:TSA) with 41.18%, and also holds a 10% stake in new ACE Market entrant PEOPLElogy Bhd (KL:PEOPLE).
Shares in Sunzen closed unchanged at 25 sen on Thursday, valuing the company at RM205.45 million. Over the past year, the stock has declined 16.7%.