Wednesday 30 July 2014

Matrix Got A New Major Shareholder

Matrix's share price closed at RM2.97 last week, 5 million shares are worth RM14.85mil.

This is the amount that Dato Lee Tian Hock, Matrix's founder, chairman & CEO, donated to a school in Port Dickson last week.

Why did he donate shares instead of cash?

I think it is because he knows that Matrix's shares will increase in value in the future!

Furthermore, with its higher than FD's dividend, the schools can get quite a big sum of "recurring income" every year.

In my opinion, Dato Lee is a real generous and humble man, he didn't announce the news himself. He also uses his wife's name to donate another RM1mil cash to the school.

So I don't think he will donate overvalued shares that are likely to fall in price soon.

At shareholding of 1.1% (5 million shares), this school will definitely appear in the top 30 shareholders list as long as it doesn't sell.

It's definitely great to be a small shareholder of Matrix who has such a great CEO.

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