This article first appeared in Capital, The Edge Malaysia Weekly on June 19, 2017 - June 25, 2017
Notable filings
FROM June 5 to 9, notable filings included the Minister of Finance Inc’s exit from KUB Malaysia Bhd after selling its entire 22.5% stake.
Anchorscape Sdn Bhd, a unit of Gaya Edisi Sdn Bhd, exercised a call option on June 5 — a day before its expiry — to buy the 125.47 million shares from MoF Inc at 35 sen apiece, 39% lower than KUB’s closing price of 57 sen that day.
Gaya Edisi is an existing shareholder of KUB. Its holding rose to 52.17% after the purchase, triggering a mandatory takeover offer at 35 sen per share. It intends to maintain KUB’s listing status. The stock was up over 31% year to date at the time of writing.
The ultimate owner of Anchorscape and Gaya Edisi is Temasek Padu Sdn Bhd, which is said to be an Umno-linked vehicle.
At Sentoria Group Bhd, the State Secretary of Pahang has a total stake of 16.33% after purchasing 24.09 million shares (a 4.94% block) from Sentoria Capital Sdn Bhd on June 5 at 83 sen apiece — a slight discount to the counter’s closing price of 86 sen.
The stock had surged 18.7% from May 5 to 89 sen on June 7. Sentoria Capital is the vehicle of joint managing directors Datuk Chan Kong San and Datuk Gan Kim Leong. A day after the sale, the company exercised its warrants for 10 million shares and remains the majority shareholder with 56.09% equity interest.
Meanwhile, the Employees Provident Fund is no longer a substantial shareholder of Matrix Concepts Holdings Bhd after selling 28.83 million shares or a 4.96% block on June 8. The EPF had begun the month of June with a 5.25% stake in the Seremban-based developer.
The EPF has been a shareholder since at least April 2014, but its stake had mostly remained below 2% and only rose above that level for the first time in March this year. Matrix Concepts’ share price surged 19.2% between mid-February and end-May but has since retraced its gains, closing at RM2.71 last Tuesday.
Wang-Zheng Bhd saw the emergence of Hengan International Group Co Ltd — China’s largest producer of sanitary napkins and baby diapers — as a shareholder on June 5. Hengan International’s Malaysian unit acquired 80 million shares or a 50.45% stake from Wang-Zheng Resources Sdn Bhd, Macro-Link Sdn Bhd, Charost Ltd and Zhong Xin Construction Co Ltd.
Wang-Zheng Resources is the vehicle of managing director Goh Keng Jiu, while Macro-Link is the vehicle of non-executive chairman Chung Shan Kwang. After disposing of 50 million shares to Hengan International, Wang-Zheng Resources still holds 5.91 million shares.
Macro-Link remains a substantial shareholder with 10.86 million shares after selling 10 million shares, while Charost exited completely after selling 16 million shares. The rest — four million shares — came from Zhong Xin Construction, which has also exited.
The sale came just over a week before Wang-Zheng’s annual general meeting last Wednesday and not long after non-executive director Datuk Abdul Azim Mohd Zabidi, a former Umno treasurer, resigned on May 25.
Notable movements
In just a fortnight, Lien Hoe Corp Bhd’s share price gained 39.4% from 33 sen on May 29 to 46 sen on June 13 — a multiyear high. The stock had been languishing below 30 sen since August 2015 before breaking past that threshold in April this year.
Belastra Sdn Bhd, the second largest shareholder behind managing director Datuk Yap Sing Hock, sold 13.7 million shares or a 4% stake on June 2. Data shows that the block was transacted at RM4.67 million or 34 sen apiece, matching its closing price that day.
The sale leaves Belastra with a 6.36% stake while Yap had 31.65% equity interest as at March 28.
At Green Ocean Corp Bhd, Tawaria Sdn Bhd acquired 6.18 million shares on June 2, increasing its holding to 26.34 million shares or a 10% stake. Data shows that the block changed hands at RM1.05 million or 17 sen apiece, matching its closing price that day.
On June 1, Chin Hin Group Bhd founder and deputy group executive chairman Datuk Seri Chiau Beng Teik emerged as a substantial shareholder with a 5.52% stake. The counter has surged over 46% since mid-March, touching 19 sen on June 5 — a multiyear high.
Tawaria is the vehicle of Ooi Chen Sheng and Ng Lee Chin. Meanwhile, managing director Datuk Tan See Meng is no longer a substantial shareholder after selling a 12.35% block on June 2, retaining only a 3.04% stake.
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.