This article first appeared in Capital, The Edge Malaysia Weekly on September 18, 2017 - September 24, 2017

Notable filings

FOR the week ended Sept 8, notable filings on changes in shareholding included Muamalat Venture Bhd ceasing to be a substantial shareholder of Perak Transit Bhd. It sold 30 million shares, or 2.38% equity interest, on Sept 8.

Taking advantage of the share price rally, Muamalat Venture also sold 30 million shares on Aug 23, according to filings with Bursa Malaysia. Perak Transit’s share price has been on a steady climb since February, hitting a record high of 37 sen on Sept 11. Year to date, the stock has gained 131% from its low of 14 sen.

Over at Sycal Ventures Bhd, substantial shareholder Fantastic Hallmark Sdn Bhd sold 11 million shares, or 3.43% equity interest, on Sept 6 and 7. Fantastic Hallmark still owns 38.6 million shares, or a 12.05% stake, after the sale.

Perbadanan Nasional Bhd disposed of 1.75 million shares, or a 1.07% stake, in Magni-Tech Industries Bhd on Sept 5 and 6. The garment manufacturer posted a lower net profit of RM19.58 million for the first financial quarter ended July 31, 2017 (1QFY2018), compared with RM23.5 million in the previous corresponding quarter. Revenue came in higher at RM293.7 million against RM271.3 million a year ago.

Meanwhile, Seal Inc Bhd’s substantial shareholder, Datuk Seri Koay Teng Choon, bought 2.35 million shares on Sept 7. He holds 40.31 million shares, or a 17% stake, after the share purchase. The property development company slipped into the red in the financial year ended June 30, 2017, with a net loss of RM9.01 million compared to a net profit of RM3.59 million a year earlier.

BPH Capital Bhd, an investment vehicle of Datuk Rozabil @ Rozamujib Abdul Rahman, bought an additional 15 million shares in Destini Bhd on Sept 5 and 8. BPH Capital’s stake in Destini increased to 270.3 million shares, or 23.4% equity interest. Destini’s share price has been on a downward trend since late March, falling 28% to 59 sen last Thursday.

At Harn Len Corp Bhd, Low Nam Hui @ Sons Sdn Bhd sold five million shares, or a 2.8% stake, on Aug 30, according to a Bursa filing.

Lembaga Tabung Haji sold 30.6 million shares in BIMB Holdings Bhd on Sept 6.

Notable movements

Hai-O Enterprise Bhd’s share price soared to a record high of RM4.72 last Thursday. Year to date, the stock has climbed 78.3%.

The Estate of The Late Madam Tan Siow Eng — which sold 20.24 million shares, or a 6.99% stake — ceased to be a substantial shareholder after transmission of shares made in accordance with the grant of probate.

The multilevel marketing company saw bumper results for the financial year ended April 30, 2017 (FY2017). It posted a net profit of RM59.26 million for FY2017, up 62% from the year before. Revenue ballooned to RM403.98 million in FY2017 from RM297.62 million the year before. Earnings per share soared to 20.47 sen versus 12.47 sen in FY2016.

Barakah Offshore Petroleum Bhd’s shares have been under selling pressure since mid-July. The counter slid to an all-time low of 44.8 sen on Sept 5, from 66 sen on July 12. Year to date, the oil and gas stock has declined 34.3%.

Bursa filings show that United Power Group Holdings Ltd, Hong Kong, which emerged as a substantial shareholder in June, bought 8.11 million shares, raising its stake to 90.67 million shares, or 10.989% equity interest.

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