---
title: "Chen Khai Voon ceases to be substantial shareholder in Genetec"
type: "News"
locale: "zh-CN"
url: "https://longbridge.com/zh-CN/news/238762051.md"
description: "Chen Khai Voon has reduced his stake in Genetec Technology Bhd from 15.8% to below 5%, ceasing to be a substantial shareholder. His vehicle, KVC Corp Sdn Bhd, sold 8 million shares on May 2, bringing his total to 38.74 million shares (4.97%). The transaction's price was not disclosed, but the stake was valued at approximately RM8.72 million based on the closing price of RM1.09. Following this, the remaining substantial shareholders are managing director Chin Kem Wang and the Employees Provident Fund. Genetec's shares fell 6.42% to RM1.02, valuing the company at RM807.13 million."
datetime: "2025-05-05T14:41:32.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/238762051.md)
  - [en](https://longbridge.com/en/news/238762051.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/238762051.md)
---

> 支持的语言: [English](https://longbridge.com/en/news/238762051.md) | [繁體中文](https://longbridge.com/zh-HK/news/238762051.md)


# Chen Khai Voon ceases to be substantial shareholder in Genetec

KUALA LUMPUR (May 5): Chen Khai Voon, who used to own a roughly 15.8% stake in Genetec Technology Bhd (KL:GENETEC), has trimmed his stake to below 5% and ceased to be a substantial shareholder in the company.

In a bourse filing, Genetec said Chen’s vehicle KVC Corp Sdn Bhd sold eight million shares or a 1.03% in the automation and energy storage solutions provider on the open market on May 2.

Based on prior filings, the disposal trimmed his shareholding in the company to 38.74 million shares or a 4.97% stake, below the 5% threshold required to be deemed a substantial shareholder.

The filing did not reveal the transaction price for the block of shares. Based on Genetec’s closing share price of RM1.09 on May 2, the 1.03% stake was valued at about RM8.72 million.

Chen was one of three substantial shareholders in Genetec. With his cessation, the company’s substantial shareholders now comprise managing director Chin Kem Wang, with a 7.69% stake, and the Employees Provident Fund, with a 5.55% stake.

Genetec was the star performer, in terms of share price, in 2021 when the stock rocketed from below 40 sen to a high of RM3.82 (adjusted price for bonus issue). It hogged the limelight then as it was seen as a good proxy to Tesla’s prospects.

Chen is a major shareholder of Seal Incorporated Bhd (KL:SEAL) and TSA Group Bhd (KL:TSA). He is also a substantial shareholder in ACE Market-bound PEOPLElogy Bhd.

Genetec booked a net profit of RM6.54 million for the second quarter ended Dec 31, 2024 (2QFY2025), on revenue of RM62.56 million. There are no comparative figures as the company changed its financial end from end-March to end-June on Nov 1, 2023.

Shares in Genetec ended seven sen or 6.42% lower at RM1.02 on Monday, valuing the company at RM807.13 million.

Edited ByKathy Fong

## 相关资讯与研究

- [Shenzhen Xunce Technology Co., Ltd. Class H (3317): New Buy Recommendation for This Technology Giant](https://longbridge.com/zh-CN/news/281611713.md)
- [SpaceX Valuation at $2 Trillion: How It Surpasses Meta and Tesla?](https://longbridge.com/zh-CN/news/281611627.md)
- [PREVIEW-Samsung Elec likely to report stupendous surge in quarterly profit to record level](https://longbridge.com/zh-CN/news/281616659.md)
- [Micron Sell-off Is a "Buying Opportunity" Says Mizuho](https://longbridge.com/zh-CN/news/281560003.md)
- [MRA Advisory Group Cuts Position in Lumentum Holdings Inc. $LITE](https://longbridge.com/zh-CN/news/281632303.md)