Sunday 29 October 2017

Hiap Teck untimely announcement by substantial shareholder

Hiap Teck made the following announcement:

One year and four months late, Shougang International gives a whole new meaning to the definition of "timely disclosure".

From the 2016 annual report:

Shougang International is still listed as a substantial shareholder, is that still correct?

I have written several times already about this issue, it should be relatively easy to automate these types of announcements regarding shareholding by directors and substantial shareholders. Why has that not yet happened?


  1. I was under the impression that substantial s/h (5%+) had to notify Bursa every time they bought/sold shares once above 5%. I'm presuming this one was a special case as they didn't exercise rates which meant their holding dipped below 5%

  2. yes, that probably happened, one can go under 5% without doing anything, if the base is increased. Still bit murky all, there are others at 5.02% (linked to each other) who also not yet announced, also what about the annual report?