This article first appeared in Capital, The Edge Malaysia Weekly on July 24, 2017 - July 30, 2017
Notable filings
BETWEEN July 10 and 14, notable shareholding changes in companies listed on Bursa Malaysia included that at Iris Corp Bhd, a global solutions provider with core expertise in digital identity, farming and environmental solutions.
A filing on July 13 shows that Caprice Development Sdn Bhd emerged as a substantial shareholder in Iris after acquiring 224.71 million shares, or a 9.09% direct stake, via a private placement on July 6.
Caprice Development is jointly owned by Datuk Poh Yang Hong and Datuk Rozabil @ Rozamujib Abdul Rahman, who were made non-executive directors of Iris on July 7.
On top of their deemed interest held via Caprice Development, Poh has 17 million shares, or a 0.69% direct stake, in Iris while Rozabil has 8.08 million shares, or a 0.33% stake.
Poh, 44, is a director of locally-listed Tower Real Estate Investment Trust. He held various positions in the Hong Leong Group and was the managing director of GuocoLand (M) Bhd between 2008 and 2010.
Rozabil, 45, is the managing director of Destini Bhd, a locally-listed integrated engineering solutions provider. He has diversified interests ranging from construction and property development to trading and serves as a director in several private companies.
Over at Scanwolf Corp Bhd, Datuk Jimmy Lai Kok Heng has resurfaced as a substantial shareholder after acquiring 2.19 million shares off market on April 28. He now has 6.86 million shares, or a 7.9% direct stake, in the Perak-based home and kitchen fittings manufacturer which ventured into property development in 2011.
The 57-year-old ceased to be a substantial shareholder of Scanwolf in September 2014 after disposing of 2.3 million shares at 55 sen apiece off market. At the time, the group was embroiled in a three-way boardroom tussle.
Lai, who has more than 20 years’ experience in the property development industry, was appointed executive director of Scanwolf Development Sdn Bhd, the property division of the group, in February 2016.
UMW Holdings Bhd (UMWH) ceased to be a substantial shareholder in UMW Oil & Gas Corp Bhd (UMW-OG) after disposing of 1.204 billion shares on July 11. This marks UMWH’s exit from the O&G business with its demerger from its 55.7%-owned subsidiary, UMW-OG.
Following the capital distribution — on the basis of 1.0312 UMW-OG shares for each share held in UMWH to entitled shareholders of UMWH — the Employees Provident Fund Board on July 11 emerged as a substantial shareholder in the O&G outfit with a 9.16% direct stake.
Notable movements
Superlon Holdings Bhd, a low-profile thermal insulator manufacturer, saw its share price advance 88% year to date (YTD) to close at RM2.34 last Wednesday, giving it a market capitalisation of RM371.6 million. The stock is currently trading near its all-time high of RM2.36 on July 13.
Kumpulan Wang Persaraan (Diperbadankan), or KWAP, mopped up 1.45 million shares in the open market on July 7 and 13. To date, the pension fund has 12.666 million shares, or 7.97% equity interest, in the company.
It is worth noting that Superlon executive director Liu Han-Chao told The Edge last month that the group is eyeing record revenue and profits for the financial year ending April 30, 2018.
Meanwhile, Hubline Bhd saw its share price drop 14 sen or 70% YTD to settle at 6 sen last Wednesday, giving it a market capitalisation of RM58.9 million. The counter is trading near its 52-week low of 5.5 sen recorded on May 16.
According to a filing with Bursa Malaysia on July 10, Absolute Privilege Sdn Bhd emerged as a substantial shareholder in Hubline on July 7 after acquiring 29 million shares in the open market.
To date, the Kuching-based Absolute Privilege has about 69.24 million shares or a 6.96% direct stake in Hubline, which owns, charters and operates a fleet of tugs and barges in Southeast Asia.
Save by subscribing to us for your print and/or digital copy.
P/S: The Edge is also available on Apple's AppStore and Androids' Google Play.