KUALA LUMPUR (July 1): UK-based Aberdeen Group plc has ceased to be a substantial shareholder of SKP Resources Bhd (KL:SKPRES), after it offloaded 11.45 million shares in the electronics manufacturing services provider.
The disposal, carried out on June 29, represented a 0.73% stake in SKP Resources, reducing Aberdeen's shareholding to 74.7 million shares or 4.79%, below the 5% threshold required for substantial shareholder designation under Bursa Malaysia rules.
Aberdeen has been steadily reducing its stake since June, from 10.48% as at Dec 31, 2025. It first emerged as a substantial shareholder of SKP Resources in January 2024.
Since then, SKP Resources' share price has fallen about 57%, from 67.5 sen when Aberdeen first surfaced as a substantial shareholder to 29 sen at Wednesday's close.
SKP Resources shares settled one sen or 3.57% higher at 29 sen on Wednesday, valuing the company at RM453 million.
The latest disposal comes after SKP Resources reported weak earnings, as softer customer demand weighed on its financial performance.
The group swung to a net loss of RM37.28 million in the fourth quarter ended March 31, 2026 (4QFY2026), from a net profit of RM28.73 million a year earlier, due to weaker customer orders, margin compression and a RM14 million impairment on property, plant and equipment.
Quarterly revenue declined 47.22% to RM305.12 million from RM578.09 million, mainly due to lower order volumes from certain customers amid tariff measures and geopolitical tensions in the Middle East.
Full-year net profit fell 71.33% to RM33.55 million from RM117.03 million in FY2025. This is the lowest net profit since FY2014.
Full-year revenue dropped 18.44% to RM1.81 billion from RM2.22 billion.