This article first appeared in Capital, The Edge Malaysia Weekly on October 15, 2018 - October 21, 2018
Notable filings
BETWEEN Oct 1 and 5, notable shareholding changes in companies listed on Bursa Malaysia included that at SCH Group Bhd, a quarry machinery and equipment supplier that has venture into the fertiliser business as well as event equipment supply and rental.
PK Fertilizers Sdn Bhd has ceased to be a substantial shareholder of the group after disposing of 40 million shares or a 7.2% stake to Pristine Acres Sdn Bhd on Oct 2. According to a filing with Bursa, the disposal, which was done via an off-market trade, saw Datuk Gan Kong Hiok emerge as a substantial shareholder of SCH as he is deemed interested by virtue of his shareholding in Pristine Acres.
Over at oil trading and bunkering company Straits Inter Logistics Bhd, executive director Capt Tony Tan Han acquired 36.8 million shares or a 6.6% stake via a private placement. With the acquisition, Tan’s interest in Straits Inter Logistics rose to 8.4%. Recall that the private placement was part of a cash call by the group to finance the acquisition of Tumpuan Megah Development Sdn Bhd. It was done at 24 sen per placement share to raise RM8.83 million.
The acquisition of its peer, Tumpuan Megah, is part of Straits Inter Logistics’ plan to expand its business of bunkering services and oil trading to enhance earnings.
Datuk Seri Mahmud Abu Bekir Taib, son of Sarawak’s Yang di-Pertua Negeri Tun Abdul Taib Mahmud, disposed of 3.96 million shares in Cahya Mata Sarawak Bhd (CMS) at RM2.9175 a share on the open market, reducing his holding to 16.9 million shares or a 1.6% stake.
Mahmud was recently redesignated as deputy group chairman after Tan Sri Abdul Rashid Abdul Manaf was appointed as independent and non-executive group chairman effective Oct 1. Prior to that, Mahmud served as interim group chairman after Tan Sri Syed Anwar Jamalullail stepped down on May 9, following the expiry of his contract. He had served for almost 12 years.
Meanwhile, there was a disposal of 8.2 million shares or a 1.01% stake in Bursa Malaysia Bhd by the Employees Provident Fund (EPF) on Oct 2. The disposal reduced the EPF’s holding to 6.4%.
Notable movements
Tiger Synergy Bhd executive chairman Datuk Tan Wei Lian acquired 15 million shares or a 2.6% stake in the company on Oct 3 for RM1.53 million, bringing his holding to 10.2%. The property player’s share price has seen a decline of 56.3% year to date, closing at seven sen last Wednesday.
The share price of Asia Media Group Bhd — the country’s leading digital out-of-home transit TV company, which offers targeted advertising through the use of digital electronic displays installed in various outdoor premises — has performed strongly year to date, rising 42.1% as at last Wednesday’s close of 13.5 sen.
Based on filings with Bursa on Oct 2, the group’s founder and executive director, Datuk Wong Shee Kai, disposed of 18.3 million shares held via Wong SK Holdings Sdn Bhd to Chow Zee Neng at 14 sen apiece on Sept 28. Wong’s indirect interest in Asia Media stood at 19.6% while Chow emerged as the second largest shareholder with a 9.96% stake.
It is worth noting that the off-market trades were done at a slight premium to Asia Media’s open-market price.
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