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This article first appeared in Capital, The Edge Malaysia Weekly on December 17, 2018 - December 23, 2018

Notable filings

BETWEEN Dec 3 and 6, notable filings include those at Tadmax Resources Bhd, which saw its largest shareholder, Datuk Seri Anuar Adam, dispose of 119.1 million shares, or a 15.2% stake, at 22 sen apiece via three transactions on Nov 29 and 30, and Dec 3.

The 22 sen per share consideration was the same as Tadmax’s closing price on Nov 30, but at a 4.3% discount to its closing price on Dec 3 and a 2.22% discount to its closing price on Dec 4. It is not known to whom the shares were sold and who will be leading the company going forward.

The disposal reduced Anuar’s stake in the industrial and property development company to 7.59%, thus losing the crown as the largest shareholder. Datuk Seri Gan Seong Liam has a 9.64% stake in the company while Datuk Tan Kak Seng has 7.2%.

Anuar is the group’s managing director while his son, Datuk Aldillan Anuar, is his deputy. Another of Anuar’s son, Almiran, is the chief operating officer of Tadmax’s property development segment.

Year to date, Tadmax has lost 26.7% of its value. The counter closed last Monday at 22 sen per share. The group is developing a 1,000mw combined cycle gas turbine power plant in Pulau Indah, Selangor, together with Worldwide Holdings Bhd and Korea Electric Power Corp.

At JAKS Resources Bhd, Koon Yew Yin and Tan Kit Pheng ceased to be substantial shareholders as at Dec 3. Koon was the largest shareholder prior to the disposal.

According to a filing by the water supply and infrastructure construction company, Koon disposed of a 6.53% stake between Nov 28 and 30 while Tan sold a 1.65% stake on Nov 30. It is not known who bought the shares and at what price.

Koon and Tan have been paring down their holdings in JAKS since July 20 and July 25 respectively. After the latest disposals, JAKS CEO Ang Lam Poah became the largest shareholder with 8.925% equity interest. He is a son of JAKS founder Datuk Ang Ken Seng.

Over at copper wire and rod manufacturer Ta Win Holdings Bhd, Pang Chong Yong has emerged as a substantial shareholder with a 9.09% stake after subscribing for 7.24 million placement shares, according to a filing by the group.

The placement shares were subscribed through Pang’s private vehicle, Ampol Accessories Sdn Bhd. According to local business guide sites, Ampol Accessories is an air-conditioning contractor based in Johor Baru.

The placement shares were placed out at 45.7 sen apiece, representing a discount of 9.8% to the five-day weighted average market price of Ta Win up to and including Nov 19 of 50.7 sen per share. The placement was completed on Nov 29.

 

Notable movements

Destini Bhd’s share price fell 18.2% during the week under review to 13.5 sen a share, giving the aircraft maintenance, repair and overhaul service provider a market capitalisation of RM155.9 million.

On Dec 4, the group’s largest shareholder, BPH Capital Sdn Bhd — controlled by its president and group CEO Datuk Rozabil Abdul Rahman — disposed of four million shares or a 0.35% stake in the company. The counter traded between 12 sen and 13.5 sen that day.

Over at YNH Property Bhd, its largest shareholder, Datuk Dr Yu Kuan Chon, acquired 2.22 million shares, or a 0.42% stake, at RM1.31 apiece on Nov 28, according to the group’s announcement to Bursa on Dec 3.

During the week under review, the property developer’s share price appreciated 4.62% to RM1.36 per share, giving the group a market capitalisation of RM720.8 million. As at last Monday, the stock was trading at RM1.33 per share — 4.3% lower than its opening price at the start of the year.

 

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