Friday 29 Mar 2024
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This article first appeared in Capital, The Edge Malaysia Weekly, on January 23-29, 2017.

 

BETWEEN Jan 9 and 13, notable shareholding changes in companies listed on Bursa Malaysia included that at MQ Technology Bhd, a mould, tool and die maker.

A filing on Jan 10 showed Goh Boon Soo divesting 20 million shares or a 4.8% stake on Jan 6 and 9. He sold 11.6 million shares or a 2.8% stake on Jan 6, before selling another 8.4 million shares or a 2% stake on Jan 9.

Neither the transaction price nor the seller was disclosed. Goh remains a substantial shareholder of MQ Technology, with 50.79 million shares or a 12.2% direct stake. He first emerged as a substantial shareholder on March 25, 2015.

It is worth noting that Teh Eng Huat, a former MQ Technology executive director, has also been actively selling, paring down his stake from 18.9% last December to 7.4% at the time of writing.

Over at Tiger Synergy Bhd, executive chairman Datuk Tan Wei Lian disposed of 23.1 million shares or a 1.6% stake on Jan 9. He still owns 329.6 million shares or 23.7% equity interest in the Seremban-based property developer and wood-based products manufacturer.

Filings show Tan sold 18.1 million shares or a 1.31% stake via a direct transaction on Jan 9, while his sister Tan Lee Chin, who is the managing director of Tiger Synergy, sold another 4.9 million shares or a 0.36% stake the same day. Both transactions were done off market at 4 sen apiece, representing a discount of 11% to the closing price of 4.5 sen on that day. Following the shares disposal by Wei Lian, his wife Datin Sek Chian Nee, who is the executive director of Tiger Synergy, also saw her deemed interest in the company fall to 21.55%, down from 22.86% last December.

Meanwhile, William Hon Tian Kok disposed of 6.7 million shares or a 0.8% stake in Bioalpha Holdings Bhd between Jan 9 and 11. He still owns 147 million shares or a 18.3% stake in the company.

A Jan 12 filing showed Hon sold 1.5 million shares, 2.99 million shares, and 2.2 million shares on Jan 9, 10 and 11 respectively. The shares were all sold at 21.5 sen apiece, matching its closing price on those days. Hon, 41, is the founding CEO and managing director of Bioalpha, a Selangor-based manufacturer of semi-finished and finished health supplement products.

 

Notable movements

Ekovest Bhd, an integrated construction, property development and infrastructure group, saw its share price hit an all-time high of RM2.60 last Wednesday, giving it a market capitalisation of RM2.22 billion. The stock has more than doubled from its 52-week low of RM1.01 on March 17 last year. Ekovest last Tuesday received “approval in principle” from the government for another major highway construction job worth RM6.32 billion.

Kota Jayasama Sdn Bhd, which is owned by Datuk Haris Onn Hussein, the brother of Defence Minister ­Datuk Seri Hishammuddin Hussein, had divested more than 13 million shares or a 1.5% stake between Jan 4 and 6, paring down its holdings to 10.12%.

The disposal of about one million shares was made on the open market, while the remaining 12 million shares were sold via a private arrangement. These shares were transacted at between RM2.39 and RM2.42.

Meanwhile, ML Global Bhd, which is involved in construction and production of roof tiles, also saw its share price more than double from its 52-week low of 37 sen on Jan 21 last year, to close at 84 sen last Wednesday, giving it a market capitalisation of RM300.2 million.

According to a Jan 9 filing, Datuk Lim Lit Chek sold four million shares or a 1.1% stake on Jan 6. These shares were transacted at between 83.5 sen and 83.7 sen, which represents about 3% discount to its closing price of 86 sen that day. Lim still has a 13.4% stake.

 

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