SCH Group Bhd is Malaysia-based firm. The company is engaged in distribution and supplies of quarry industrial products for quarry industry. It also produces quarry machinery, equipment, and reconditioned quarry machinery. In addition, the company also manufactures and distributes quarry grills and supply spare parts. Its product portfolio includes products like conveyor belts, impact springs, conveyor rollers, belt fasteners, jaw plates, rock tools, shaft mounted reducers, rock tires, and cone-bac epoxy backing systems as well as packing compounds and ammonium nitrates. Most of its revenue comes from the Malaysian market.
Datuk Ong Choo Meng was SCH Group's Single largest shareholder with a 29.43% stake in the company, mostly held through 64.7% -owned Hextar Holding Bhd. The entry point for Datuk Ong is at 19 sen apiece which was reported in 2018. Datuk Ong, a very low profile chemical man come to the limelight in March 2020 when he emerged in Rubberex's substantial shareholders list on Feb 28 after he bought a 26.69% stake or 67.31 million shares in the company, which produces and sells household and industrial rubber gloves, following the execution of a share sale agreement (SSA). Sources familiar with the matter said Ong acquired the SSA shares at 83.5sen per piece. On April 16, Ong raising it to 32.5%.
Base on the today rubberex closing price at 6.78, Ong make a paper gain of about 800% is less than 4 months. Market had been speculate that Ong may link some business between SCH and Rubberex as he is the major shareholder for both company. Ong was recently known as the ' Midas Touch', this give SCH have more upside potential in near future.
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