This article first appeared in Capital, The Edge Malaysia Weekly on May 8, 2017 - May 14, 2017
Notable filings
NOTABLE shareholding changes between April 24 and 28 included Hillspring Venture Sdn Bhd emerging as a new substantial shareholder in Voir Holdings Bhd.
Hillspring, the vehicle of Lin Meng Yih and Wong Jia Yann, bought 13.2 million shares or 9.09% equity interest at 60 sen apiece on April 21. Its stake likely makes it the second largest shareholder in the fashion retailer, whose chairman Datuk Zarul Mohd Zulkifli owned 50.71% of it as at March 29 via Vista Lestari Development Sdn Bhd.
The transacted price was at a 10.4% discount to Voir’s closing price of 67 sen on April 21. The stock has gained 2.31% year to date but is still 11.33% lower year on year.
Over at 7-Eleven Malaysia Bhd, Tan Sri David Kong Hon Kong, founder of bereavement service provider Nirvana Asia Ltd, emerged as a substantial shareholder with a 7.12% stake.
Kong likely bought the 64.5 million shares from Berjaya Retail Bhd via a direct deal on April 25. Stock market data shows the same number of shares changing hands in a single transaction at RM1.55 each or a total of RM99.98 million.
At the transacted price, the shares changed hands at a significant 7.7% discount to the RM1.68 apiece they fetched on the open market at the time.
Also on April 25, 7-Eleven announced a one-for-two renounceable rights issue of up to 616.69 million warrants at 10 sen (RM1 exercise price) each to raise up to RM61.67 million for working capital and potentially improve the trading liquidity of its shares with the exercise of the warrants. Since then, the counter has fallen 9.4%, closing at RM1.53 last Wednesday. This pared its year-to-date gain to 8.6%.
The disposal leaves Berjaya Retail with 417.87 million shares or a 37.63% stake compared with 50.85% at the start of the year.
Meanwhile, the Employees Provident Fund (EPF) surfaced as a substantial shareholder in Matrix Concepts Holdings Bhd and Bintulu Port Holdings Bhd.
It bought 1.37 million shares in Bintulu Port on April 19, pushing up its stake to 5.21%. The price was not disclosed but data shows that the same number of shares transacted off market at RM6.09 apiece, which was at a three-sen premium to Bintulu Port’s closing price of RM6.06 on that day. The stock surged 7.2% over two trading days to April 21 after the acquisition but ran out of steam to close at RM6.42 last Wednesday.
The EPF acquired three million shares or a 0.52% stake in Matrix Concepts on April 21, increasing its stake to 5.47%. On the same day, some 3.06 million shares were transacted off market at between RM2.55 and RM2.56 each.
Notable movements
Anzo Holdings saw a lot of activity from end-March to mid-April. Its shares surged from 29 sen on March 1 to as high as 60 sen by April 13 but have since shed most of the gains. They closed at 32 sen last Wednesday.
About a week after the rally, on April 21, AXD System Global Sdn Bhd sold seven million shares in Anzo Holdings and ceased to be a substantial shareholder. AXD System had first surfaced in the timber product manufacturer in January, when it acquired 15.7 million shares or a 5.23% stake via a combination of direct transactions and open-market purchases. The April 21 sale would cut its interest to roughly 2.75%.
Earlier on April 7, AXD System had bought 4.83 million shares or a 3.2% stake in Plastrade Technology Bhd, bumping up its holding to 14.49%. It had emerged in Plastrade in November last year.
Bottled water producer Bio Osmo Bhd has surged 122% over the past year, essentially doubling since end-December when it had traded at about five sen apiece. Its new substantial shareholder, Datuk Seri Ismail @ Farouk Abdullah, increased his stake by another 90 million shares, according to an April 21 filing with Bursa Malaysia.
He likely bought the shares from Datuk Mohd Ibrahim Mohd Nor, who exited the company after selling his entire 13.1% interest or 95 million shares. Mohd Ibrahim had sold five million shares at 10 sen each and the rest at eight sen apiece, according to an April 25 filing.
Data shows the 90 million shares changed hands off market for RM7.2 million or eight sen apiece, which was at a 20% discount to the counter’s closing price of 10 sen on that day.
Ismail emerged as a substantial shareholder in Bio Osmo last month after buying 66 million shares or a 9.13% stake in it. The latest acquisition increases his holding to 21.57%, which would put him ahead of executive director Shahrizal Hisham Abdul Halim, who owned 20.05% of the company at the time of writing.
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