Creador founder and chief executive officer Brahmal Vasudevan has emerged as a substantial shareholder in MCE Holdings Bhd as has bought over 100,000 shares in the open market on May 9, 2024 and increased its interest in the company to 5.018 per cent.
He is deemed interested due to his shareholding in Creador Conscienta Ltd, which had increased Creador Conscienta ownership to 6.2 million shares in the company.
Brahmal founded private equity firm Creador in 2011. He is also a board member of Capital Markets Malaysia, an organisation under the Securities Commission which looks to strengthen the internationalisation of Malaysia’s capital markets.
MCE Holdings, a manufacturer and trader of automotive parts, reported a 21.2 per cent jump in net profit to RM9.4 million for the first half of financial year ending July 31, 2024, due to an increase in demand for the company’s products from its customers. MCE Holdings is also looking to venture into the healthcare services segment, operations however are yet to start.
The company’s share price closed unchanged at RM1.71 a share yesterday, giving it a market capitalisation of about RM211 million.
In a new development, Shares of MCE Holdings Bhd rose to their highest in at least two decades after the automotive parts manufacturer said Brahmal Vasudevan of private equity firm Creador is its newest substantial shareholder.
MCE surged as much as 26% or 44 sen to RM2.15. The stock was trading at RM1.97, valuing the company at over RM240 million, after more than four million shares changed hands at 9.30am. The stock was also at its most active since Jan 22, 2024.
