KUALA LUMPUR (July 7): Private investment vehicle Teoh Guan Kok & Co Sdn Bhd has emerged as a substantial shareholder in staple foods producer Malayan Flour Mills Bhd (KL:MFLOUR).

According to Malayan Flour Mills' filing on Bursa Malaysia, the transaction involved the purchase of 65.68 million direct shares via an open market deal on June 24, which translates to a 5.301% equity stake in Malayan Flour Mills. The purchased shares were valued at an estimated RM36.12 million based on the then closing price of 55 sen.

However, on July 6, the private vehicle sold off 501,800 direct shares on the open market, which brings its current equity stake in Malayan Flour Mills to 5.26% — still above the 5% threshold to be deemed a substantial shareholder.

According to Malayan Flour Mills' annual report, Teoh Guan Kok & Co has owned shares in the company since 2023.

A quick check on CTOS shows that Teoh Guan Kok & Co is based in Penang, and involved in property development and the operation of palm oil plantations.

Teoh Guan Kok & Co is also the second largest shareholder of polymeric products manufacturer and trader Karyon Industries Bhd (KL:KARYON) with a 6.62% stake, according to previous filings.

Shares of Malayan Flour Mills closed up one sen or 1.8% at 56.5 sen on Tuesday’s market close, giving it a market capitalisation of RM700.1 million.