KUALA LUMPUR (Nov 8): NWP Holdings Bhd emerged as the third most actively traded stock on the local bourse at the time of writing on Monday (Nov 8) morning after the group announced last Friday (Nov 5) the emergence of Datuk Lai Keng Onn as its new substantial shareholder following the receipt of an unusual market activity (UMA) query from Bursa Securities over the recent jump in its share price and trading volume.  

The stock opened 1.5 sen or 4.69% higher at 33.5 sen and rose further to hit an intra-morning high of 36 sen.  

At the time of writing, NWP Holdings was trading 6.25% higher at 34 sen, giving it a market value of RM168.44 million. It saw 80.33 million shares changing hands.

On Friday, in a response to Bursa's UMA query as the group’s share price jumped 23.08% last week, NWP Holdings highlighted Lai, the founder and managing director of electrical and mechanical engineering services provider Kejuruteraan Asastera Bhd, on Nov 5 acquired 28.6 million shares that represent a 5.414% interest in NWP Holdings from the open market.

"The board is not aware of any possible explanation to account for the trading activity, save for the receipt of the notice of interest of substantial shareholders pursuant to Section 137 of the Companies Act 2016, notifying the acquisition of 5.414% direct interest in the company by Datuk Lai Keng Onn via open market," NWP Holdings said in a bourse filing on Friday. 

According to the group’s website, NWP Holdings provides the manufacturing and trading of a wide range of quality timber products, kiln-drying, timber treatment services, sawmilling and logging.