This article first appeared in Capital, The Edge Malaysia Weekly on May 1, 2017 - May 7, 2017

Notable filings

NOTABLE shareholding changes between April 17 and 21 included the emergence of Lembaga Tabung Haji as a new substantial shareholder in ICT firm Datasonic Group Bhd. The fund bought 67.5 million shares on April 14 to raise its holding to 131.79 million shares or 9.76%, according to an April 17 filing.

The block was likely purchased at RM82.35 million or RM1.22 apiece. Data shows the same number of shares changing hands in a single direct deal at RM1.22 apiece that day at a 0.81% discount to the RM1.23 they were fetching on the open market.

After hitting a one-year intraday high of RM1.63 on Sept 23 last year, Datasonic’s shares tumbled to touch a one-year intraday low of RM1.11 on Feb 28. The counter then recovered 14.4% to close at RM1.27 on April 25, up 5% year to date.

Construction outfit Gabungan AQRS Bhd saw brothers Alvin Ng Chun Kooi and Ng Chun Seong cease to be substantial shareholders after they sold a combined 4.87% stake off market. Alvin, who was CEO when Gabungan AQRS listed in July 2012, sold 5.66 million shares or 1.4% equity interest while his brother sold 13.44 million shares or 3.44% via several direct deals on April 17. The shares changed hands at RM1.17 apiece, a slight discount to the day’s closing price of RM1.20.

In 1999, the Ngs co-founded Gabungan Strategik Bhd, one of four companies that were merged to create Gabungan AQRS in 2010. Chun Seong was the single largest shareholder in the group with 18.22% as at April 30, 2013, while his brother held 9.96%.

Over at civil and geotechnical engineering firm Ark Resources Bhd, Lakaran Asia Sdn Bhd emerged as a new substantial shareholder after buying direct stakes from two substantial shareholders. It paid 50 sen apiece or a total of RM4.53 million for the combined 18.6% stake or 9.05 million shares on April 14 and 15. That made it the second largest shareholder behind group managing director Rashidi Aly Abdul Rais, who held 28.2% prior to Lakaran Asia’s entry. Its 59 sen closing price last Wednesday was the highest since August 2014 and a more than 110% year-to-date increase.

Notable movements

Kota Jayasama Sdn Bhd, the vehicle of Datuk Haris Onn Hussein, ceased to be a substantial shareholder in Ekovest Bhd after selling a total of 55.28 million shares in three transactions between April 13 and 17. The shares were sold at RM1.30 to RM1.363 apiece in a combination of open-market disposals and direct transactions. The three disposals would have netted Kota Jayasama some RM71.88 million.

Haris is the brother of Minister of Defence Datuk Seri Hishammuddin Hussein and cousin of Prime Minister Datuk Seri Najib Razak. Kota Jayasama had been paring its stake in Ekovest since last November, going from 13.84% to 4.8% after the latest disposals.

After closing at a multiple-year high of RM1.45 twice in the past two months, Ekovest gained four sen to close at RM1.43 last Wednesday, giving it a market capitalisation of RM3.06 billion. The counter has risen 63.9% year to date.

Diversified automotive, machineries and property group Boon Koon Group Bhd saw the emergence of a new substantial shareholder on April 17. Datuk Seri Chiau Being Teik, deputy group executive chairman and founder of building materials firm Chin Hin Group Bhd, bought 42.03 million shares, 40 million of which were transacted off market. On the same day, Boon Koon group executive chairman and founder Datuk Goh Boon Koon sold 40 million shares at 45 sen apiece in an off-market transaction. The acquisition pushed Chiau’s overall direct interest to 55.42 million shares or a 20.03% stake while Goh held 23.69 million shares or a 8.56% stake.

Boon Koon later appointed Chiau and his son, Haw Choon, who is group managing director of Chin Hin Group, as non-executive directors, an April 25 filing show.

At last Wednesday’s close of 45 sen, the counter was up 275% year to date. Last Sept 6, it closed at 9.5 sen.

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