EPF reduces its stake in ViTrox Corp

PETALING JAYA: The Employees Provident Fund (EPF) has ceased to be a substantial shareholder in ViTrox Corp Bhd after lowering its stake in the automated test equipment maker to less than 5%, just six months after first crossing that threshold.

A filing with Bursa Malaysia showed that the pension fund disposed of 2.46 million shares of the company last Friday, equivalent to 0.13%, cutting its shareholding to 4.94% from 5.07%.

Based on ViTrox’s closing price of RM4.25 on Oct 3, the shares were estimated to be worth about RM10.46mil.

ViTrox’s stock price has recovered strongly since April, rebounding over 87% from a year-low of RM2.33 following US curbs on chip exports. It closed seven sen lower at RM4.38 yesterday, a drop of 1.57%, valuing the group at RM8.29bil.

For the second quarter ended June, ViTrox reported flat net profit of RM28.13mil, while revenue jumped 33.4% to RM183mil.