This article first appeared in Capital, The Edge Malaysia Weekly on October 29, 2018 - November 4, 2018
Notable filings
FOR the week of Oct 15 to 19, notable changes in shareholding included those at Seacera Group Bhd. Privately held Synergy Platform Sdn Bhd sold 1.08 million shares in the tile manufacturer, leaving it with 15.95 million shares or a 4.24% stake.
Synergy Platform, the vehicle of Seacera managing director Zulkarnin Ariffin, has been trimming its shareholding. In early June, it held 28.39 million shares, or a 7.54% stake. However, Zulkarnin still has an 8.71% stake, or 32.78 million shares, held directly and indirectly.
Other substantial Seacera shareholders have also been disposing of their shares.
At end-March, Seacera’s non-independent executive director Datuk Mansor Masikon had an 8.96% stake but has now trimmed it to 27.99 million shares or 7.44%.
Also at end-March, Duta Global Sdn Bhd — the privately held vehicle of Datuk Ismail Othman — held 90.5 million shares or a 24.04% stake in Seacera, which has since been cut to 22% or 82.6 million shares.
Seacera’s stock hit a multi-year low of 30 sen apiece last Wednesday, giving the company a market capitalisation of RM112.98 million.
During the week in review, pension fund Kumpulan Wang Persaraan (Diperbadankan) (KWAP) sold 8.05 million shares or 1.67% equity interest in Prestariang Bhd, trimming its stake to 46.69 million shares or 9.68%.
KWAP, which in early September had 55.21 million shares or an 11.44% stake in the technology and software training service provider, has been steadily selling its shares in the company.
Prestariang hit a multi-year low of 40 sen last week, but rebounded to close at 52 sen last Wednesday, giving it a market capitalisation of RM250.8 million.
Titijaya Group Sdn Bhd acquired 15.62 million shares, or a 1.09% stake, in property developer Titijaya Land Bhd, and now holds 736.32 million shares or 54.92%.
On Oct 11, Titijaya Land’s share price hit a multi-year low of 30 sen. It has yet to recover and ended trading at 31 sen last Wednesday, giving the company a market capitalisation of RM412.1 million. Year to date, the stock has shed more than 70% of its value.
LBS Bina Group Bhd strengthened its grip on construction outfit MGB Bhd, acquiring 4.38 million shares or 0.88%, nudging its shareholding to 57.59% or 286.13 million shares.
MGB’s stock has been bashed down, closing last Wednesday at 69 sen — its lowest since September 2016 — for a market capitalisation of RM342.8 million.
LBS has been mopping up MGB shares and as at end-May, it held 272.76 million shares or 54.9% equity interest in the company.
LBS closed at 67 sen last Wednesday for a market capitalisation of RM1.04 billion.
Notable movements
Since the middle of October, AEON Co (M) Bhd’s stock has risen 20 sen or almost 13% to close at RM1.76 last Wednesday. This gave the company a market capitalisation of RM2.47 billion.
During this volatile period, the Employees Provident (EPF) has been trading AEON’s stock, and has been a net buyer over the last three weeks.
In early October, the EPF held 11.83% or 166.08 million shares in AEON, but upped its shareholding during the week in review, acquiring 3.05 million shares and increasing its stake to 12.42%, or 174.36 million shares.
AEON is a supermarket owner and shopping centre operator.
Meanwhile, Cahya Mata Sarawak Bhd’s share price has shed about 20%, or 67 sen, since mid-September. It closed at RM2.67 last Wednesday, giving the company a market capitalisation of RM2.86 billion.
Datuk Mahmud Abu Bekir Taib, son of former Sarawak chief minister Tun Abdul Taib Mahmud, has been trimming his stake in the diversified company.
During the week in review, he disposed of 255,300 shares, bringing his shareholding down to 1.55% or 16.65 million shares.
Cahya Mata Sarawak is largely controlled by Taib Mahmud’s family, who collectively hold more than a 20% stake in the company.
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