This article first appeared in Personal Wealth, The Edge Malaysia Weekly on June 26, 2017 - July 2, 2017
Notable filings
FROM June 9 to 15, notable filings included Gan Hai Toh surfacing as a substantial shareholder at Carimin Petroleum Bhd. Gan acquired 13 million shares or a 5.56% direct stake off market on June 7, a filing dated June 9 shows.
Dynac Sdn Bhd, owned by Abdul Rahman Mohamed Shariff, is believed to be the seller of the block Gan bought, having divested the same number of shares the same day. Stock market data shows that 13 million shares changed hands at 32 sen apiece in a single direct deal on June 7. The stock had traded between 31 sen and 32.5 sen that day.
Little is known about Gan. But separate filings show that he had ceased to be a substantial shareholder of tile manufacturer Seacera Group Bhd in October 2015.
At Mexter Technology Bhd, managing director and CEO Ivan Sia Teck Fatt is no longer a substantial shareholder of the IT solutions outsourcing services provider after selling seven million shares or a 3.6% stake on June 9. Stock market data shows that seven million shares had changed hands in two direct deals that day at 24 sen apiece — also its closing price on June 9.
Sia still has 4.2 million shares or a 2.1% stake following the sale. The buyer is not immediately known. Sia, 50, was appointed director of Mexter in February 2005. He co-founded Mexter (M) Sdn Bhd, one of the group’s key subsidiaries, in 1992.
In March, Mexter announced plans to diversify into healthcare services by setting up a postnatal care centre in Taman Tun Dr Ismail with a capacity of 33 beds. That followed the emergence of LYC Capital Sdn Bhd — owned by Lim Yin Chow — as a new substantial shareholder with a 28.38% stake.
Lim, a former non-executive director of StemLife Bhd, Signature International Bhd and REV Asia Bhd, was reprimanded and fined RM30,000 by Bursa Malaysia in 2015 for submitting false information on his educational qualifications.
Meanwhile, Trade Favor International Co Ltd ceased to be a substantial shareholder of White Horse Bhd after disposing of 20.15 million shares or its entire 8.79% stake in the tile maker on June 6. Trade Favor is owned by White Horse chairman and managing director Liao Yuan Shun. Trade Favor had transferred its shares in White Horse to Liao as well as his wife, sons and daughters, filings show.
Notable movements
Shares of Fibon Bhd, which closed at 68 sen last Tuesday, are up 22.5% year to date. Although the stock fell from 78 sen on April 10 this year, it was above its low of 63 sen three weeks earlier on May 31.
During this time, the maker of electrical insulators saw the emergence of Tan Sri Richard Koh Kin Lip as a shareholder with a 9.78% stake. Koh likely bought the shares at 65 sen apiece on June 13, the price at which 4.7 million shares changed hands in a single direct deal off market that day — below the 69.5 sen they were fetching at the time.
Koh, 68, is corporate development director of Red Sena Bhd. He is also non-executive director of Cocoaland Holdings Bhd, Daya Materials Bhd, NPC Resources Bhd and IOI Properties Group Bhd.
Meanwhile, shares of G Neptune Bhd are up 87.5% in less than two months. The counter closed at 7.5 sen last Tuesday. While this is off its recent high of 8.5 sen on June 14, the stock is still trading near a four-year high.
The gains provided a better exit opportunity for British Virgin Islands-incorporated Premium Energy International Ltd, which has been selling its shares since April when it had about 9% equity interest. Premium Energy is no longer a substantial shareholder after selling 16.3 million shares or its entire 5.64% stake on June 8. The sale was likely done at nine sen each — above the market price of 7.5 sen — being the price 16.3 million shares changed hands at in a single direct deal off market on June 8.
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