Interest in shares of Main Market-listed ARB Bhd spiked after a US-based investment firm had yesterday emerged as the company’s new substantial shareholder.
US-based investment management firm Caravan Capital Management LLC has emerged as a substantial shareholder of ARB Bhd after acquiring a 6.3% stake in the information technology (IT) software and platform provider.
SOFTWARE development firm ARB Bhd’s profit after tax and minority interests (Patami) is expected to decline by about 20% from RM33.2 million in 2019 to RM26.5 million in 2020, according to estimates by Inter-Pacific Research Sdn Bhd.
Penyedia penyelesaian teknologi maklumat, ARB Bhd menjadualkan semula tarikh Mesyuarat Agung Tahunan (AGM) ke-22 kepada 12 Mei daripada 15 April berikutan Perintah Kawalan Pergerakan (PKP) yang dilanjutkan selama dua minggu sehingga 28 April.
ARB Bhd, formerly known as Aturmaju Resources Bhd, saw its net profit jump 157.15% to RM12.79 million for the fourth quarter ended Dec 31, 2019, from RM4.96 million a year earlier.