The founder and CEO of UMS Integration, Andy Luong, has purchased 199,800 shares for a total amount of $184,815 through market transaction, according to a bourse filing on Apr 8.
This follows news of the global stock market plunge which saw the Straits Times Index (STI) dropping by 8.5% on the morning of Apr 7.
Luong’s total number of ordinary voting shares held comes up to 109,163,086, or 15.36% of the percentage of total shares.
UMS Integration, formally known as UMS Holdings , received approval from the Securities Commission Malaysia for secondary listing on Bursa Malaysia on March 25.
The mainboard listed semiconductor firm first announced the proposed secondary listing in a July 17 bourse filing. It said the move would broaden the company’s investor reach and widen its investor base, and potentially increase the liquidity of the company’s shares.
It would also enable UMS Integration to tap into additional platforms for future fundraising and provide it with the flexibility to access different equity markets to raise funds.
See also: Centurion’s non-executive director Han increases stake by purchasing 250,000 shares in company
UMS reported earnings of $40.6 million for FY2024 ended Dec 31, 2024, down 32% y-o-y. For 2HFY2024, the company saw a 29% dip in earnings of $11.1 million.
Shares in UMS Integration closed 2 cents higher or 2.151% up at 95 cents on Apr 8.
