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.
Caravan Capital Management LLC, a US-based independent investment management firm, has emerged as a substantial shareholder of ARB Bhd after acquiring 18.5 million shares on the open market, equivalent to a 6.3% stake.
ARB Bhd, an information technology (IT) software and platform provider, said Caravan Capital Management LLC has acquired 18.50 million of its shares from the open market, equivalent to a 6.30% stake in the company.
ARB Bhd, penyedia perisian dan platform Teknologi Maklumat (IT) berkata Caravan Capital Management LLC telah membeli 18.50 juta sahamnya daripada pasaran terbuka, bersamaan kepada pengambilalihan 6.30 peratus kepentingan dalam syarikat itu.
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, the most-active stock on Bursa Malaysia, rose as much as 4.5 sen or 16.36% to 32 sen in morning trades today after the IT solutions provider reported yesterday a 157.86% jump in fourth quarter net profit to RM12.79 million from a year earlier.