This article first appeared in Capital, The Edge Malaysia Weekly on August 14, 2017 - August 20, 2017
Notable filings
BETWEEN July 31 and Aug 4, notable filings of shareholders’ movements in companies listed on Bursa Malaysia included the brief emergence of one Goh Boon Soo @ Goh Yang Eng as a substantial shareholder of APFT Bhd for a day.
According to the filings, on Aug 2, Goh acquired 20 million shares or 3.64% of APFT, making him a substantial shareholder of the company until the next day when he sold three million shares or a 0.55% stake and ceased to be so.
Over at Bintai Kinden Corp Bhd, Kenyalang Property Development Sdn Bhd ceased to be a substantial shareholder of the electrical and mechanical installation company after disposing of 6.5 million shares or 2.26% of its share base on July 31.
HLT Global Bhd CEO Chan Yoke Chun sold 5.28 million shares or 2% of the glove-making dipping machine manufacturer’s share base off market on July 27, cutting her direct holdings to 34.72%. Chan and her husband collectively control 70% of HLT. The buyer was senior independent non-executive director Yau Ming Teck, who bought the same number of shares that day. A total of 5.28 million shares changed hands in a single direct deal off market on July 27 at 50 sen each, above the 44 to 47 sen they fetched on the open market.
At packaging manufacturing company Ire-Tex Corp Bhd, Famous Bluechip Sdn Bhd ceased to be a substantial shareholder on Aug 1 following its disposal of four million shares or a 2.9% stake.
On Aug 3, Ire-Tex announced that former deputy finance minister Datuk Donald Lim Siang Chai emerged as a substantial shareholder following his acquisition of 13.29 million shares or a 9.6% stake via off-market deals on Aug 3.
He had a 10.03% stake or 13.85 million shares as at Aug 3.
Seal Incorporated Bhd, which has interests in timber logging and property development, saw 6.64 million or 2.8% of its shares changed hands off market on July 19.
Its second largest shareholder, Poly Dynamic Motion Sdn Bhd, sold the shares, paring holdings to 5.64%, according to a filing dated Aug 1.
Notable movements
Closing at RM1.40 last Wednesday, shares of 7-Eleven Malaysia Holdings Bhd were barely changed from the start of the year, but they rallied 22.8% in just over two weeks from its 52-week low of RM1.14 on July 24.
Part of the gains may have been spurred by purchases by the Sultan of Johor, Sultan Ibrahim Sultan Iskandar, who emerged as the company’s second largest shareholder with a 8.44% stake or 93.7 million shares after buying 629,100 shares on Aug 7.
About a week earlier, Franklin Resources Inc ceased to be a substantial shareholder on July 28, after disposing of 4.99 million shares or a 0.45% stake on July 27 and 28.
Berjaya Corp founder Tan Sri Vincent Tan remains the largest shareholder of 7-Eleven Malaysia with 41.27% direct and indirect holdings as at Aug 1, even after Berjaya Retail Bhd sold 32 milion shares or a 2.88% stake. On Aug 3, Berjaya Corp Bhd, Berjaya Group Bhd and Juara Sejati Sdn Bhd are no longer substantial shareholders of 7-Eleven Malaysia upon the cessation of deemed interests in Berjaya Times Square Sdn Bhd and Sublime Cartel Sdn Bhd.
At the time of writing, there are two “neutral”, four “sell” and zero “buy” calls on 7-Eleven Malaysia, with target prices ranging between RM1.10 and RM1.40 each.
At Gabungan AQRS Bhd, Deras Mekar Sdn Bhd sold 3.2 million shares or a 0.75% stake in the construction and property developer on July 31 and Aug 1 on the open market. That pared its deemed holdings to 3.35%. It holds a 3.37% stake directly.
Closing at RM1.55 last Wednesday, the stock is 2.5% off its 52-week high of RM1.59 on Aug 4. However, the stock gained 16.9% to reach RM1.59 in just one month from RM1.36 on July 4. All three analysts tracking the stock have a “buy” call, with target prices ranging from RM1.62 to RM1.80 at the time of writing.
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