GPRO ... Sep11

The company saw the emergence of new major shareholder — Christian Kwok-Leun Yau Heilesen who bought 38.23 million shares or 15.29% equity interest in GPRO Heilesen acquired the shares on the open market for RM3.25 million or 8.5 sen each.

Coincidentally, Vital Research Sdn Bhd, the single largest shareholder in GPRO sold down its stake to 2.1% from 14.88% in two separate transactions on the open market.

Vital Research is controlled by GPRO executive chairman Tang Tiong Seng and Quek Kar Loon, according to the company’s annual report.

This is the second ACE Market- listed loss-making company that Heilesen has bought into in less than two months. The first was DVM Technology Bhd, which he later sold down in less than three weeks.

For FY10 ended Dec 31, GPRO incurred a net loss of RM2.3 million or 0.93 sen per share compared with RM5.14 million or 2.06 sen per share for FY09. Revenue came in at RM1.18 million against RM1.4 million the year before. So far this year, the company is still in the red. It reported a net loss of RM1.34 million against RM1.58 million in the previous corresponding period.