KUALA LUMPUR (Sept 9): SSF Home Group Bhd (KL:SSF) said Low Kok Yew has emerged as a substantial shareholder after raising his stake in the home furniture retailer to above 5%.

Low bought 13.55 million direct shares or a 1.69% stake from executive director and deputy CEO Lok Kok Khong on Sept 7, according to a bourse filing on Wednesday. The transaction was valued at RM4.88 million.

Prior to the share purchase, Low’s shareholding stood at 4.81%. It has now increased to 6.51%, making him the third-largest shareholder in the home furniture retailer.

The share transaction left Lok, who is the second-largest shareholder, with 68.06 million shares or an 8.5% direct stake.

SSF’s largest shareholder is managing director and CEO Wong Choong Loong with a 49.1% direct stake.

Shares of SSF Home closed down half a sen, or 1.4%, at 35.5 sen, giving the company a market value of RM284 million. Year-to-date, the stock has decreased by 15.5%.