This article first appeared in The Edge Malaysia Weekly on July 28, 2025 - August 3, 2025

Shares of Green Packet Bhd (KL:GPACKET) and Oasis Harvest Corp Bhd (KL:OASIS) have surged in recent weeks despite being in the red, as they welcomed European Credit Investment Bank Ltd (ECIB) as a new substantial shareholder.

According to its website, ECIB is “a leading global financial institution” established in 2008 and headquartered in Labuan, with offices in Kuala Lumpur and regional representatives. Stock exchange filings show ECIB emerged as a substantial shareholder of Green Packet with a 5.77% stake on July 3 before surfacing at Oasis Harvest with a 5.78% stake on July 18.

Green Packet, which appointed former Human Resources Development Corporation CEO Datuk Shahul Hameed Dawood as its new managing director on July 21, saw its share price doubling over five weeks to close at five sen on July 23 from 2.5 sen on June 17.

Shares of Oasis Harvest, formerly known as Dolphin International Bhd, seem to have shaken off the recent Bursa Malaysia reprimand over its terminated 2023 rights issue. Its share price rose from 14.5 sen on June 13 to 24 sen on July 18.

Still, not everything ECIB touches has the same effect. ECIB emerged as a substantial shareholder of AppAsia Bhd (KL:APPASIA) with a 5.46% stake on Sept 26, 2024. It had grown its stake to 5.809% by Dec 31 last year, filings show. From almost 15 sen some 10 months ago, AppAsia shares are currently hovering closer to the 10 sen level.

ECIB CEO Ken Lim Zhao Qi, 38, was appointed as an independent non-executive director of Sentoria Group Bhd ­(KL:SNTORIA) on Jan 5, 2024, but resigned after five months on May 28, citing “personal matters and obligations towards foreign entities”.

It remains to be seen what caught ECIB’s interest at Green Packet and Oasis Harvest. But the recent share price gains are a reason to keep a close watch on developments.

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