Hiro ... Oct09

Some substantial shareholders of Hiro, including non-independent non-executive director Tan Sri Saleha Mohd Ali, have sold down their shareholdings of 50.07 million shares, or 28.09% stake, in the automotive accessory manufacturer.

Saleha, along with her privately held company Saleha Dan Anak Anak Holdings Sdn Bhd, Zabidi Mohd Zain and Zulkifli Mohd Zain have ceased to be substantial shareholders after the disposal of their entire shareholdings in Hiro-Dapat Holdings Sdn Bhd (HDHSB), which holds the 28.09% stake.

At this point in time, no announcement has been made on the emergence of a new substantial shareholder or changes in other major shareholders' stake and it is not known who has bought over their stake in HDHSB.

Other notable shareholders of Hirotako are group managing director Datuk Ir Kuan Peng Ching @ Kuan Peng Soon who holds 29.94% and independent, non-executive director and chairman Datuk Fu Ah Kiow @ Oh (Fu) Soon Guan who holds 0.61%.

Hirotako itself has been buying back shares over the past month (Sept 2009). As at Oct 1 2009, treasury holdings have increased by 2.49 million shares to 14.19 million shares, or a 7.94% stake, from Sept 18.

The company posted a 5% rise in net profit for the second quarter ended June 30 to RM4.58 million from RM4.35 million previously.