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Tuesday July 8, 2008 MYT 2:38:11 PM
Jaring Metal chairman buys into Foremost
KUALA LUMPUR: Jaring Metal Industries Sdn Bhd founder and chairman Ng Lam San @ Ng Kok Kar has raised his shareholding in Foremost Holdings Bhd to 15.26% or 8.02 million shares.
Filings with Bursa Malaysia showed Ng acquired 2.77 million shares on July 2 and another three million shares on July 4. Foremost share price closed at 35.5 sen on July 2 and at 35.5 sen on July 4. Its share price rose a 52-week high of 41 sen on Nov 5 while its 52-week low was four sen on Aug 17 last year.
At the current trading price of 34 sen, it is trading at a price-to-earnings of 15.68 times.
Foremost’s subsidiaries manufacture home audio and home theatre systems.
Jaring Metal is involved in waste reduction and recovery and also specialises in scrap removal and recycling for local industrial companies.
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