This article first appeared in Capital, The Edge Malaysia Weekly on August 28, 2017 - September 3, 2017

DURING the week under review, ubiquitous investor Tan Sri Richard Koh Kin Lip emerged as a substantial shareholder in Perak Transit Bhd after acquiring nine million shares or 0.79% of the Perak-based land transport company on Aug 21.

A filing on the same day with Bursa Malaysia on substantial shareholding changes in the company shows that Koh’s stake increased to 5.536% after the acquisition.

Five million of the shares were acquired by Koh in direct deals at 30 sen apiece while the rest was purchased through Rickoh Corp Sdn Bhd at 29 sen each. Perak Transit’s largest shareholder is Datuk Seri Cheong Kong Fitt with 38.84%.

Koh sits on the board of several Bursa-listed companies, including Cocoaland Holdings Bhd, IOI Properties Group Bhd and Daya Materials Bhd. He is also the corporate development director of Red Sena Bhd.

At WZ Satu Bhd, Tan Jing Xin emerged as a substantial shareholder in the civil engineering outfit with a 12.45% stake on Aug 14, by virtue of being the beneficial owner of the shares following the demise of her father Tan Ching Kee on Feb 27.

Jing Xin disposed of three million shares on Aug 17, followed by one million on Aug 21, paring down her holding in WZ Satu to 11.3%. However, on Aug 22, the company announced that it had entered into a conditional share sale agreement with Jing Xin.

The SSA is for the disposal of WZ Satu’s wholly-owned subsidiary WZ Trading Sdn Bhd for RM22.8 million cash. WZ Trading deals in steel products.

Lembaga Tabung Haji, the largest shareholder of BIMB Holdings Bhd, disposed of 30.4 million shares or 1.86% of its holding in the Islamic banking group on Aug 16. LTH’s interest in BIMB stood at 51.27% after the disposal.

BIMB, which has a 60% stake in Syarikat Takaful Malaysia Bhd, is looking at a possible restructuring of the group. This may also involve the transfer of its listing status from its holding company to its main banking unit, Bank Islam Malaysia Bhd.

At Industronics Bhd, Zhou Qi Lin ceased to be a substantial shareholder of the electronics company after disposing of five million shares or 4.86% of the group’s share base on Aug 16. The disposal was settled at 18.5 sen apiece.

Based on Industronics’ 2016 annual report, its largest shareholder as at March 31, 2017, was Sunny Luck International Ltd with 17.05%, followed by Yeoh Eng Kong (10.17%). However, Yeoh began paring down his equity interest in the company from April 18 and ceased to be a substantial shareholder on May 2.

At ConnectCounty Holdings Bhd, a total of 17.34 million shares or 5.39% of the group’s share base changed hands on Aug 16 through off-market direct deals. The transactions were done at 20 sen to 28 sen apiece.

On Aug 16, ConnectCounty announced the appointment of Lim Teck Seng as a non-independent, non-executive director of the group. Lim is the deputy managing director of JF Apex Securities Bhd.

G3 Global Bhd, formerly known as Yen Global Bhd, saw 6.84 million shares or about 5% of its share base change hands in direct deals off market on Aug 17. The transactions were settled at RM1.20 each, which was at a 35.8% discount to the closing share price of RM1.87 on that day.

G3 Global is in the process of issuing 275 million rights shares with free detachable warrants priced at 20 sen apiece. The sale of the provisional allotment of the rights shares will commence on Sept 14 with the acceptance and payment being on Sept 25. The rights shares will be listed on Oct 9, 2017.

Save by subscribing to us for your print and/or digital copy.

P/S: The Edge is also available on Apple's AppStore and Androids' Google Play.