This article first appeared in Capital, The Edge Malaysia Weekly on May 2, 2022 - May 8, 2022
Notable filings
For the week of April 18 to 22, notable changes in shareholding at companies listed on Bursa Malaysia included those at Central Global Bhd, which saw RYRT Holdings Sdn Bhd emerge as a substantial shareholder of the industrial tape and label stock maker.
According to bourse filings, RYRT Holdings subscribed to 14.47 million shares, or a 12.44% stake, in Central Global at RM1.04 apiece, totalling RM15.05 million on April 18.
This follows the completion of the first tranche of the acquisition by Central Global’s wholly-owned subsidiary CIC Construction Sdn Bhd of 70% equity interest in RYRT International Sdn Bhd from RYRT Holdings for RM30.1 million. The deal was to be satisfied by the issuance of 28.94 million new shares in Central Global at RM1.04 apiece. RYRT Holdings is equally owned by its directors Soo Yu Chai and Lee Chee Vui.
On Jan 26, Central Global announced that the acquisition of RYRT International represented an opportunity for the group to further enhance its presence in the construction industry in Sabah, as the latter is principally involved in the construction of building and other engineering projects in the state.
Over at Jerasia Capital Bhd, the Practice Note 17 apparel manufacturer and fashion retailer, Yee Jia Cheng briefly ceased as a substantial shareholder after disposing of 740,000 shares on April 14. Prior to that, he held 4.23 million shares, or a 5.156% stake, in the company.
Four days later, Yee re-emerged as a substantial shareholder, on April 18, after acquiring 1.26 million shares, increasing his holding to 4.75 million shares, or a 5.786% stake, as at April 22. The transacted price was not disclosed, but the counter closed at five sen on the open market on April 18.
Meanwhile, Gan Lock Yong @ Gan Choon Hur ceased to be a substantial shareholder of FCW Holdings Bhd, after disposing of two million shares, or a 0.8% stake, in the property development and contract manufacturing outfit in an off-market deal on April 20. Prior to the disposal, Gan held a 5.64% stake in the company.
Gan emerged as a substantial shareholder of FCW in November 2013 after acquiring 3.32 million shares in the company and increasing his holding to 14.11 million shares, or a 7.24% stake.
FCW is controlled by businessman Tan Sri Robert Tan Hua Choon, who has 30.61% equity interest in the company. FCW shares last closed at RM1.05, giving the company a market valuation of RM262.49 million.
Notable movements
Shares in Bina Darulaman Bhd continued to fall during the week in review. They reached a multi-year high of 87 sen on March 11 and, since then, the stock has been falling to close at 41 sen last Tuesday, giving the Kedah-based property and construction outfit a market capitalisation of RM114.09 million. The stock is down 37.7% year to date (YTD).
Jingshi Holdings (M) Sdn Bhd, a little-known Penang firm incorporated in March last year, ceased to be a substantial shareholder of Bina Darulaman after it disposed of 10.3 million shares, or a 3.39% stake, on the open market. Jingshi surfaced as a substantial shareholder after acquiring 15.88 million shares in the company in January, increasing its holding to 15.88 million shares, or a 5.225% stake.
The share price of industrial paper bag and paper egg tray maker KYM Holdings Bhd climbed 8.5% to 51 sen on April 22, from 47 sen on April 18. The stock has gained 39.47% YTD to close at 53 sen last Tuesday, for a market capitalisation of RM78.66 million.
West River Capital Sdn Bhd, which emerged as a substantial shareholder of KYM last August, has been mopping up more shares in the company since then. It held 10.8 million shares, or a 7.205% stake, as at April 22. West River Capital is the private vehicle of KYM executive director Datuk Lim Kheng Yew and his son Lim Tze Thean, who is executive director and CEO of the company.
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