This article first appeared in Capital, The Edge Malaysia Weekly on April 10, 2017 - April 16, 2017

Notable filings

SCH Group Bhd co-founder and managing director Lau Mong Ling paring his holdings were among the notable shareholding changes in Bursa Malaysia-listed companies between March 27 and 31.

Lau’s holdings fell to 5.79% from 14.28% after he sold 35 million shares for RM8.05 million, or 23 sen apiece, in three direct deals off market on March 30, an 8% discount to the 25 sen they fetched on the open market.

Some of those shares were picked up by Khoo Chee Siang, who added four million shares at 23 sen each the same day to increase his stake to 6.6%. Khoo, who was appointed director on March 2, surfaced as a substantial shareholder after buying 4.49 million shares on March 20 at 22.5 sen each. SCH shares rose from 17 sen on March 1 to 26 sen last Wednesday.

Samchem Holdings Bhd CEO Datuk Ng Lian Poh is no longer a substantial shareholder after selling his 3.51 million shares, or a 2.58% stake, off market at RM2.20 apiece. Ng retained a direct 3.76% interest after the sale. The stock is up 58% year to date at RM2.27 last Wednesday.

The takeover attempt at chemicals company Halex Holdings Bhd moved further forward as its former single largest shareholder, Olive Park Development Sdn Bhd, sold off its remaining 13.5 million shares, or 12.7% interest, on March 22 at 60 sen apiece.

UBS AG also exited after selling 6.79 million shares at 64 sen apiece. The selling price matches what Halex director Datuk Ong Soon Ho’s Waras Dinamik Sdn Bhd paid for 6.69 million shares, or a 6.32% stake, on March 20. It is also the mandatory general offer price offered by Waras Dinamik, which had a 50.13% stake as at March 31.

The offerors intend to keep Halex listed. The stock has since surged from 67 sen at the close of trading on March 22 to 87 sen a share last Wednesday, up 241.2% YTD.

Over at ConnectCounty Holdings Bhd, Tan Sri Ahmad Fuzi Haji Abdul Razak, former secretary-general at the foreign ministry, emerged as a substantial shareholder with a 7% stake after buying 10.23 million shares on March 20.

Notable movements

Closing at RM1.32 last Wednesday, Gabungan AQRS Bhd’s shares are at their highest in nearly two years despite its founder Lim Ann Kok exiting the company.

According to a filing dated March 31, Lim is no longer a substantial shareholder after selling 35 million shares, or 8.9% interest, on the open market at undisclosed prices.

Ng Chun Seong cut his direct and indirect holdings to about 8% compared with 13.3% on March 22 last year. This was after he sold 25 million shares on March 28 and 5 million shares on March 29. On March 20, he sold Deras Maker Sdn Bhd’s 18.99 million shares, or a 3.86% stake, in Gabungan AQRS to Ng Kit Heng, who also has a 3.7% direct stake in the latter and emerged as a substantial shareholder after the purchase. It is not known if Kit Heng is related to Chun Seong, who is the brother of AQRS deputy chairman Ng Chun Kooi.

Stock market data shows 25 million shares changed hands in six direct deals off market on March 28 at RM1.17 apiece, a discount to the RM1.22 to RM1.29 they fetched on the open market that day. Similarly, on March 29, 35 million shares changed hands in 10 direct deals at RM1.17 apiece, below open market prices of RM1.21 to RM1.24 that day. Nine million shares changed hands in direct deals at RM1.27 apiece on March 21 when the stock traded at RM1.29 to RM1.33.

Over at financial services firm Excel Force MSC Bhd, former director and co-founder Sharon Sun Chin-Chuan is no longer a substantial shareholder after selling 2.65 million shares (a 1.28% block) on March 29. As at March 28, Exacta Co Ltd (vehicle of Sun and her spouse co-founder Jeff Wang) had a 10.48% stake after selling 2.5 million shares at RM1.63 apiece.

The stock, which closed at RM1.80 last Wednesday, has climbed 51.26% YTD, nearly doubling from a year ago. Asia Internet Holdings, a vehicle of My E.G. Services Bhd founder Wong Thean Soon, emerged as a substantial shareholder last April with a 18.69% stake.

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