KUALA LUMPUR (July 27): Country Heights Holdings Bhd (KL:CHHB) founder Tan Sri Lee Kim Yew has increased his interest in the property developer after acquiring six million shares via an off-market transaction.
The acquisition, completed on July 24, represents a 1.86% stake based on the company's 322.54 million outstanding shares (excluding 3.25 million treasury shares), according to a Bursa Malaysia filing on Monday.
The acquisition was made by his investment vehicle, Country Heights International Sdn Bhd.
Following the transaction, Lee's deemed interest in Country Heights rose to 43.91%, comprising a 24.11% direct stake and a 19.8% indirect stake.
The filing did not disclose the value of the transaction. Based on Country Heights' closing price of 14 sen on July 24, Lee is estimated to have paid about RM840,000 for the six million shares.
Country Heights faces continued financial struggle, reporting losses for the last six quarters
Most recently, it posted a net loss of RM2.37 million on revenue of RM6.73 million for the three months ended March 31, 2026. No comparative figures were available for the year-ago quarter as the company changed its financial year-end from Dec 31 to June 30.
Last month, Country Heights announced that its chief executive officer Mohd Rizal Zubair had resigned "to pursue other personal interests" after less than two months at the helm. The company said it had begun the search for a successor.
Shares of Country Heights rose one sen or 7.14% to close at 13 sen on Monday, giving the company a market capitalisation of RM42 million. The stock remains down 28% year to date.