This article first appeared in Capital, The Edge Malaysia Weekly, on November 2 - 8, 2015.

Notable filings

Between Oct 19 and 23, notable shareholding changes in companies listed on Bursa Malaysia included those in Ideal Sun City Holdings Bhd, where three changes occurred involving its substantial shareholders.

On Oct 19, Datuk Lim Tek Lin ceased to be a substantial shareholder of the project management and services company. According to filings with Bursa, Lim disposed of 7.17 million shares or 3.86% of the group’s share base.

While Lim disposed of his shares, Liang Chee Fong acquired 2.03 million shares or a 1.09% stake at 40 sen apiece on Oct 20, increasing his stake in Ideal (fundamental: 3; valuation: 0.30) to 4.32%. On the same day, Datuk Seri Lee Hock Seng acquired five million shares or a 2.69% stake, increasing his shareholding to 8.62%.

Ideal’s largest shareholder is Datuk Ooi Kee Liang who, together with Datin Phor Li Wei, owns 30.5% equity interest through Ideal Sun City Sdn Bhd. Ideal’s share price has lost 5.83% so far this year and closed at 48.5 sen last Wednesday.

Over at Seacera Group Bhd, its largest shareholder and group managing director Zulkarnin Ariffin acquired 2.27 million shares or a 1.25% stake on Oct 16 and 19 at either 55 sen or 68.5 sen per share. The purchase raised Zulkarnin’s shareholding in Seacera (fundamental: 2.30; valuation: 3) to 25.66%.

On Oct 21, Datuk Mansor Masikon, through Noble Summer Sdn Bhd, acquired 3.21 million shares or 1.77% equity interest in Seacera at 68 sen apiece. Mansor holds a 19.7% stake in the group, which is involved in tile manufacturing and property development.

Seacera is diversifying into property development and construction. The group has a total landbank of 242.8ha in Melaka and Semenyih. It has also subscribed for 60% of the shares in SPAZ Sdn Bhd, a construction company.

At Bioalpha Holdings Bhd (fundamental: NA; valuation: NA), William Hon Tian Kok disposed of 22 million shares or a 4.75% stake on Oct 19, 21 and 22 at 29 sen apiece. He further disposed of another 8.83 million shares at the same price on Oct 23, reducing his stake to 19.74%.

Datuk Wong Shee Kai, the largest shareholder of Bright Packaging Industry Bhd (fundamental: 1.20; valuation: 1.10), acquired 3.69 million shares or a 2.25% stake in the packaging specialist on Oct 15, 16 and 20. His shareholding increased to 32.2% after the acquisitions.

Meanwhile, Datuk Wee Song Ching entered into several transactions between Oct 16 and 21, which saw his shareholding in Quality Concrete Holdings Bhd (fundamental: 0.35; valuation: 0.90) decrease by 2.01 million shares or 3.47% to 5.56%.

At Tex Cycle Technology (M) Bhd (fundamental: 2.25; valuation: 0.50), major shareholder Can Cycle Sdn Bhd disposed of five million shares or a 2.96% stake on Oct 16 at RM1.20 apiece in an off-market deal with institutional funds. Can Cycle is owned by Ho Siew Choong, Ho Siew Weng and Periasamy Sinakalai.

Notable movements

Last Wednesday, Cocoaland Holdings Bhd reached its intraday high within 52 weeks of RM2.94 per share. Year to date, the candy maker’s share price has rallied 108.4% to RM2.89, giving it a market capitalisation of RM494.2 million.

On Oct 20, Cocoaland (fundamental: 2.80; valuation: 1.70) announced that its major shareholder Liew Fook Meng had disposed of 2.86 million shares or 1.67% equity interest at RM2.45 and RM2.50 apiece. Liew holds 38% of the group’s shares as at Oct 20.

In June, Cocoaland was an acquisition target of First Pacific Co Ltd, a Hong Kong-based investment management company, for a total cash consideration of RM463.32 million or RM2.70 per share. The deal was aborted by First Pacific in July.

Meanwhile, Hibiscus Petroleum Bhd’s share price fell to 57.5 sen — a 52-week intraday low — last Wednesday. YTD, the special-purpose acquisition company has lost 30% of its value to 59.5 sen per share.

Datuk Seri Muhammad Syafiq Baljit Abdullah acquired 12.36 million shares or a 1.26% stake in Hibiscus (fundamental: 1.55; valuation: 0.30) on Oct 21. He acquired another 2.52 million shares on Oct 22, increasing his stake to 11.62%.

Note: The Edge Research’s fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations. Visit www.theedgemarkets.com for more details on a company’s financial dashboard.

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