Insider Moves: Asia Bioenergy Technologies, Cliq Energy, Halex Holdings, Sanichi Technology and Sarawak Consolidated Industries

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NOTABLE filings

Some of the notable shareholding changes from Oct 13 to 17 include those at Asia Bioenergy Technologies Bhd (Asia Bio), a business incubator and strategy advisory group.

On Oct 16, Pelaburan Mara Bhd (PMB) increased its stake in Asia Bio to 10% or 84 million shares. The government-owned investment firm had acquired some 25.7 million shares on the open market.

In a filing with Bursa Malaysia, Asia Bio announced that the shares were purchased for 17 sen and 17.5 sen apiece.

PMB has invested in a number of companies this year, including PDZ Holdings Bhd, Sanichi Technology Bhd and BHS Industries Bhd.

Asia Bio’s share price has climbed 57.14% year to date. The counter closed at 16 sen last Tuesday.

Over at Cliq Energy Bhd, Credit Suisse Group AG emerged as a substantial shareholder in the company, purchasing some 31.7 million shares on the open market on Oct 14.

The shares represent a 5.02% stake in Cliq Energy, an oil and gas special purpose acquisition company.

According to a filing with Bursa, the Switzerland-based financial group purchased another 2.1 million shares on Oct 16, increasing its shareholding to 5.36%.

However, the announcement says the purchase of the shares was through an open market investment position taken in the course of ordinary business in banking and finance. In other words, Credit Suisse is only acting on behalf of its clients. The details of the party or parties involved are not known.

On Oct 13 and 14, Halex Holdings Bhd managing director Yeoh Cheng Poh disposed of some 12.8 million shares or a 12.08% stake in the company. The block was acquired by Solaris Cemerlang Sdn Bhd through a married deal.

After the disposal, Yeoh is left with a 1.89% direct stake and 0.56% indirect stake in Halex. On Oct 14, an executive director in Halex bought 418,000 shares in the company.

Halex, which manufactures agrochemicals, saw its share price fall 21.7% to 76 sen last Tuesday from an all-time high of RM1 on April 25.
 
Notable movements

Sanichi founder and managing director Datuk Dr Pang Chow Huat acquired some 3.7 million shares on the open market on Oct 17. Pang’s shareholding is still minimal at 0.82% after the acquisition of the shares.

The company’s shares rebounded 8.75% to close at 9.5 sen last Tuesday, from 8 sen on Oct 16. The counter has been on a downward trend after rising about 90% on the back of the entry of PMB two months ago.

In August, PMB purchased a 5% stake in Sanichi and later subscribed to 80 million units of the rights issue shares, bringing its shareholding to 11.26%.

Sanichi, a plastic injection mould maker, is expanding into the property industry through the launch of its first project in Melaka next year.
 
Meanwhile, Sarawak Consolidated Industries Bhd (SCIB) saw Sandakan-based entrepreneur Andrew Lim Nyuk Foh emerge as a substantial shareholder in the concrete products manufacturer.

On Oct 10, Lim purchased 13.2 million shares or a 17.99% direct stake in an off-market transaction. Subsequently, on Oct 13, he bought another 4.04 million shares, giving him a total of 23.47% equity interest in SCIB.

According to filings with Bursa, SCIB managing director Datuk Zainal Abidin Ahmad had disposed of some 13.2 million shares in an off-market deal. Zainal also resigned as managing director of SCIB.

Lim was appointed as SCIB’s non-independent non-executive director last Monday.

SCIB’s shares have been on an upward trend since last month. The counter climbed to as high as RM1.15 on Sept 22. It closed at 91 sen last Tuesday.

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This article first appeared in The Edge Malaysia Weekly, on October 27-November 2, 2014.