Esthetics International Group Bhd’s (EIG) substantial shareholder Melissa M. Chen has sold her stake and ceased to be a substantial shareholder in the company.
According to filings with Bursa Malaysia last Friday, Chen, who is EIG executive director business development and founder, sold 26.85 million shares, or 20.35% stake, in EIG via off-market transactions.
In the group’s latest annual report, Chen was listed as the second largest shareholder with a 20.35% stake after group managing director Lim Yee Soon with a 24.66% stake. Chen is Lim’s spouse.
At the time of writing, Lim’s office had not returned StarBiz queries while attempts to contact other EIG officials were unsuccessful.
EIG is involved in the wellness and beauty industry. The group manages and distributes skincare and wellness brands such as Averine, Bioxil, Clinelle, Dermalogica and EfiSlim.
Chen started Head to Toe Beauty Centre in 1984. She became interested in skincare brand Dermalogica in 1988 and four years later launched the first Leonard Drake centre in the country.
For the first quarter ended June 30, EIG reported a net loss of RM3.2mil against a net profit of RM1.02mil a year earlier. Revenue, however, rose slightly to RM39.9mil from RM37.8mil previously.
Concurrently, Providence Capital Sdn Bhd, in which EIG chairman Eddy Chieng Ing Huong has a stake, acquired 28.5 million EIG shares via off-market transactions.
With this acquisition, Providence Capital is currently EIG’s largest substantial shareholder with 42.2 million shares, or 31.97% equity.
Meanwhile, Kan Kok Chee, whose 10.04% stake as at June 30 made him the fourth largest shareholder in EIG, has disposed of his entire holding of 13.26 million shares.
Gambir Capital Sdn Bhd, in which independent non-executive director Felicia Lim Chang Ching has an interest, has acquired 11.6 million EIG shares, upping its stake to 18.04 million shares, or 13.67%, from 4.87% as at June 30. i suspect Gambir Capital could be linked to Lim.
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