Terence Wong, who runs the Azure Singapore Equity Fund, has emerged as a substantial shareholder of Trek 2000 International after acquiring a 7.3% stake on May 11 at a premium over the then market price.
According a filing by Trek 2000 on May 12, Wong is paying 12 cents each for 22,074,000 shares. In absolute terms, that's $2,648,880.
The deal is pending completion.
As indicated in Trek 2000's annual report, as of March 24, Ron Sim, Osim's founder, holds 9.3%; Creative Technology holds 9.09% while Kioxia Corp, formerly Toshiba's memory business, has a total interest of more than 17%.
Wayne Tan, executive chairman of the company, is the single largest shareholder with total interest of 35.54%.
In its most recent FY2025 ended December, the company's revenue was down 1.1% to US$19.64 million.
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However, thanks to significantly better gross margins as the company prioritise more profitable products and recognise other income, it was able to improve its earnings from just US$335,000 to US$4.61 million.
Trek 2000 shares closed at 12 cents on May 12, up 10.48% for the day.
