KUALA LUMPUR (Oct 19): Former Taghill Holdings Bhd (KL:TAGHILL) chief executive officer and executive director Ng Wai Hoe has ceased to be a substantial shareholder in the construction outfit after disposing of 30 million shares.

According to the group’s bourse filing on Monday, Ng disposed of the shares, equivalent to a 1.93% stake, in an off-market transaction last Friday (Oct 16). This reduced his combined direct and indirect shareholding to 4.77% from 6.7% as at Sept 8.

The transaction price was not disclosed in the filing. However, Bloomberg data showed that the block was sold at five sen per share, a 23.08% discount to Taghill’s closing price of 6.5 sen last Friday. The disposal was valued at approximately RM1.5 million.

Ng stepped down as CEO and executive director of Taghill, formerly known as Siab Holdings Bhd, in June last year due to personal matters. He was first appointed to the board in December 2020 as managing director before being redesignated as CEO and executive director in September 2024.

Taghill’s largest shareholder is Mbuild Venture Sdn Bhd, which holds a 22.86% stake in the group. Mbuild Venture is controlled by Taghill managing director Wong Yih Ming and executive directors Chu Yee Hong and Yap Kek Siung.

Shares of Taghill ended unchanged at 6.5 sen on Monday, giving the group a market capitalisation of RM93.93 million.