This article first appeared in Capital, The Edge Malaysia Weekly on August 28, 2017 - September 3, 2017
Notable filings
FROM Aug 14 to 18, notable changes in shareholding included those at Kumpulan Powernet Bhd, which makes warp-knitted fabrics and undergarments, and invests in property.
SSF Home Builder Sdn Bhd surfaced as a shareholder with an 18.57% stake after taking up a special placement of 12.85 million shares.
A check on the Companies Commission of Malaysia’s website indicates that SSF is the vehicle of Datuk Chew Kam Wah.
In a nutshell, SSF has agreed to sell to Powernet the development rights to carry out and complete a commercial development in Sentul, largely comprising blocks of shopoffices, for RM6.9 million.
SSF is now the second largest shareholder after Woo Wai Mun — the managing director of Powernet — who prior to the exercise had about 30% equity interest in the company.
Powernet’s shares hit a multi-year high of RM1.11 on July 4 but have since tapered off, closing at 90 sen last Wednesday and giving the company a market capitalisation of RM62.3 million.
At Berjaya Assets Bhd (B-Assets), Portal Access Sdn Bhd ceased to be a substantial shareholder after disposing of 20 million shares. Portal Access had a 6.23% stake or 69.35 million shares as at Sept 19 last year.
Portal Access is wholly owned by Berjaya Land Bhd which, in turn, is controlled by tycoon Tan Sri Vincent Tan Chee Yioun.
Tan has close to 63% equity interest in B-Assets after Portal Access ceased to be a substantial shareholder. B-Assets is the developer of Berjaya Times Square — a large retail and commercial mall — and owns Natural Avenue Sdn Bhd, which is involved in number forecast operations in Sarawak.
B-Assets’ share price hit a multi-year high of RM1.40 on May 25. Last Wednesday, the stock closed at RM1.20.
Over at Bioalpha Holdings Bhd, Ministry of Finance-owned Perbadanan Nasional Bhd (PNS) acquired 4.46 million shares in the company, nudging its holding to 10.88% or 87.77 million shares.
PNS started buying Bioalpha’s shares earlier this month. It had a just-below 8% stake or 63.75 million shares as at mid-April.
Other substantial shareholders in the health supplement maker include Hon Tian Kok @ William, who has a 14.7% stake, and Malaysian Technology Development Corp Sdn Bhd with 13.4%.
Since end-May, Bioalpha’s shares have gained close to 16%. They ended trading at 26 sen last Wednesday.
Meanwhile, property counter Mah Sing Group Bhd saw Kumpulan Wang Persaraan (Diperbadankan) ceased being a substantial shareholder after selling 1.47 million shares.
KWAP surfaced as a substantial shareholder in early March after it accumulated a 5% stake or 120.69 million shares.
In March, Mah Sing largely traded at between RM1.39 and RM1.52 per share. It closed at RM1.54 last Wednesday.
Notable movements
Sarawak-based KKB Engineering Bhd saw its shares hit a multi-year low of 89 sen on Aug 16, having slipped some 37% since early May.
During this spate of weakness, Datuk Kho Kak Beng — its founder, chairman and managing director — has been buying its shares.
He acquired 5.15 million shares or an equity interest of just below 2% during the week in review, nudging his holding up to 44.91% or 115.77 million shares. As at early December last year, he had 110.61 million shares or 42.91% in KKB.
The stock closed at 92 sen last Wednesday.
Since early July, TA Global Bhd has gained more than 34%. The counter hit a high of 39 sen last Wednesday.
Executive chairman Datuk Tony Tiah Thee Kian has been buying up shares of the property company, acquiring as much as 12.83 million shares during the week in review and increasing his direct interest to 9.14% or 486.68 million shares.
Tiah and his wife, Datin Alicia Tan Kuay Fong, indirectly control as much as 60.17% of TA Global via TA Enterprise Bhd. They have almost 32% equity interest in TA Enterprise, which is involved in stockbroking, corporate finance, advisory and related businesses.
Their son, Tiah Joo Kim, has a 5% stake in TA Global.
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