Insider Moves: APFT Bhd, D'nonce Technology Bhd, Ipmuda Bhd, Lee Swee Kiat Group Bhd, Parlo Bhd, Privasia Technology Bhd

This article first appeared in Capital, The Edge Malaysia Weekly, on February 5, 2018 - February 11, 2018.
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Notable filings

BETWEEN Jan 22 and 26, notable shareholding changes in companies listed on Bursa Malaysia included that at APFT Bhd, which runs the Asia Pacific Flight Training academy and operates out of three commercial airports in Malaysia.

A Jan 26 filing shows that Wai An Fan ceased to be a substantial shareholder of the company after offloading 103.2 million shares or her entire 7.7% stake on the open market on Jan 19.

It is worth noting that Wai had just emerged as a substantial shareholder of APFT after acquiring the 103.2 million shares via a private placement on Jan 2.

Separately, Goh Boon Soo divested 50 million shares or a 3.7% stake in APFT on the open market on Jan 22. He remains a substantial shareholder with a 5.9% direct stake.

Neither the transaction price nor the buyer was disclosed. Shares of APFT closed at 1.5 sen on Jan 19 and 22.

Over at Penang-based contract manufacturer D’nonce Technology Bhd, group managing director and CEO Law Kim Choon is no longer a substantial shareholder after disposing of 45 million shares or a 23.8% stake.

Law offloaded his shares on Jan 23 at 41 sen apiece — a premium of 2.5 sen or 6.1% to the closing price of 38.5 sen that day.

D’nonce has been in the news since late 2016 for attracting the interest of integrated poultry and egg player Lay Hong Bhd.

However, it was Teh Huan Seng who surfaced as a substantial shareholder on Jan 23, after acquiring 53.97 million shares or a 29.24% stake via BM Synergy Holding Sdn Bhd.

Meanwhile, Fong Shu Cheung, a Hong Kong national, ceased to be a substantial shareholder of Parlo Bhd after offloading 8.94 million shares or a 2.4% stake on the open market on Jan 18. The thinly traded Parlo was formerly known as Cybertowers Bhd, which provides Internet-based vehicle-tracking systems.

Over at ICT and business process outsourcing firm Privasia Technology Bhd, Datuk Mohd Aqliff Shane Abdullah is no longer a substantial shareholder. He sold 210,000 shares on the open market on Jan 19.


Notable movements

Ipmuda Bhd, which supplies building materials and finishing products to the construction industry, saw its share price decline 13% year to date to close at 77 sen last Tuesday, giving it a market capitalisation of RM55.8 million. The stock has fallen from its 52-week high of 90 sen on Dec 14 last year.

It is worth noting that Maju Holdings Sdn Bhd — owned by Tan Sri Abu Sahid Mohamed —divested 3.62 million shares or a 5% stake in Ipmuda via a direct business transaction on Jan 25, bringing its stake down to 17%. The business tycoon also has a 9.2% direct stake in Ipmuda.

Meanwhile, newly appointed managing director Datuk Stephen Sim Choo Thiam has emerged as a substantial shareholder of Ipmuda. It is believed that the 3.62 million shares he purchased via a direct business transaction on Jan 25 were from Maju Holdings.

A quick check on Bursa shows that these shares were transacted at 90 sen apiece, which represents a premium of 12.5% to their closing price of 80 sen on the open market that day.

Lee Swee Kiat Group Bhd (LSK) — the country’s largest natural latex bedding manufacturer — has seen its share price gain 27% year to date. It closed at 44.5 sen last Tuesday, giving it a market capitalisation of RM73.2 million.

Lee Swee Kiat, the group’s founder and executive chairman, acquired 700,000 shares or a 0.4% stake on Jan 18. To date, he owns 53.16% equity interest in the company, including a 1.82% direct stake and 51.34% indirect stake, held through Lee Swee Kiat & Sons Sdn Bhd.

On June 15 last year, LSK paid its maiden dividend of one sen per share.


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