Sanichi Technology is principally an investment holding company and a provider of management services. The principal activities of the subsidiaries are design and fabrication of precision moulds and tooling.
According to the source, the investment in Sanichi Technology also was based on the company’s exciting business prospects of venturing into property development.
PMB on Aug 26 bought 18 million shares, representing a 5.17% stake, in Sanichi Technology at 11.2 sen per share.
The purchase was done on the open market. Other PMB investments in listed companies include a 29.45% stake in shipping firm PDZ Holdings Bhd, 18% in printing firm BHS Industries Bhd, 2.2% in steel firm Malaysia Steel Works (KL) Bhd, 1.32% in construction firm Crest Builder Holdings Bhd and 0.58% in education firm SEG International Bhd.
Meanwhile, the source said PMB, the major shareholder of PDZ Holdings, is still in negotiations with several parties on a stake in PDZ Holdings.
“The discussions are ongoing as there is the issue of a good injection of assets into the company that will create value to PDZ Holdings,” said the source.
When asked whether Tan Sri Halim Saad was one of the suitors for the PDZ Holdings purchase, the source did not deny nor could he confirm earlier news report on Halim’s interest in PDZ Holdings.
Established on June 24, 1967, PMB is principally involved in private equity investments, portfolio fund management, unit trust management, financial services and corporate advisory.
Its unit, PMB Investment, currently manages third party funds and 14 unit trust funds with an approved fund size of 2.6 billion units.
