Pek Kok Sam, CEO and executive director of Southern Alliance Mining, recently raised his stake in the company. Based on the regulatory filings, it was the first time an insider had reported changes in shareholdings since the company went IPO last June. On March 17, Pek acquired 65,000 shares for $39,000, or 60 cents each. He now holds nearly 343.9 million shares, or 70.32%, up from 70.3% previously.

On March 13, the company, which mines iron, reported revenue increased by 8% y-o-y to RM152.1 million ($49.6 million) for 1HFY2021 ended January 2020. Earnings in the same six-month period was also up 47% y-o-y to RM51.4 million from RM35 million, thanks to 40% higher margins due to higher average selling prices and lower production volumes that translated into lower logistical and production costs.

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