Notable filings

Among the more notable changes in shareholding between Aug 29 and Sept 2 were those at Wong Engineering Corp Bhd.

TNTT Realty Sdn Bhd, a company controlled by Ong Yoong Nyock, who is a major shareholder and managing director of Tiong Nam Logistics Holdings Bhd, and persons acting in concert with him — Yong Kwee Lian, Yong Loy Huat and Low Ah Lin — made a takeover offer for Wong Engineering at 65 sen a share.

This came about after TNTT and Loy Huat acquired 39.43 million shares or 43.07% of Wong Engineering for a total of RM25.63 million.

With the persons acting in concert, who control an additional 10.49% equity interest, Ong and Loy Huat have accumulated 53.56% in Wong Engineering, triggering a mandatory general offer.

TNTT holds a 24.62% stake in Tiong Nam Logistics while Ong and his wife Kwee Lian have about 48%.

Wong Engineering ended trading at 71 sen last Wednesday.

Over at MSM Malaysia Holdings Bhd, Koperasi Permodalan Felda Bhd (KPF) seems to be trimming its stake in the sugar manufacturer. During the period in review, KPF sold 1.5 million shares, reducing its holding to 118.11 million shares or 16.8%.

As at end-December last year, KPF held 140.61 million shares or 20.02% in MSM.

MSM’s share price hit a 52-week low of RM4.43 on Jan 21 and rose to a high of RM5.10 on July 20. MSM closed last Wednesday at RM5.

At DKSH Holdings (M) Bhd, US-based Franklin Resources Inc ceased to be a substantial shareholder after disposing of 97,000 shares on Aug 26.

Franklin Resources first surfaced in DKSH in mid-February with 8.01 million shares or 5.1% equity interest.

DKSH’s share price has gained more than 50% since June this year. The stock closed at RM5.54 last Wednesday.

Apart from Franklin Resources, the Employees Provident Fund (EPF) also ceased to be a substantial shareholder in DKSH last month. EPF had acquired 7.91 million shares or a 5.02% stake in June.

A private company, Dinamik Hartaniaga Sdn Bhd, surfaced as a substantial shareholder in electrical appliance maker Milux Corp Bhd with 3.16 million shares or a 5.81% stake.

A check with the Companies Commission of Malaysia shows that the directors of Dinamik Hartaniaga are Lee Kee Choon and Lee Siow Vern, likely to be father and son as they share the same address.

They were both appointed in mid-June this year

The shareholders of Dinamik Hartaniaga are Siti Fatimah Muhamad Erdris and Fazilah Karuveetil Moidunny, but they are likely to be proxies, with the change of names yet to be completed.

Dinamik Hartaniaga was incorporated in early June this year, and the Lees were appointed directors later in the same month.

At the same time as Dinamik Hartaniaga emerged, Tanam Markandu ceased to be a substantial shareholder in Milux after disposing of 900,000 shares. Tanam Markandu first surfaced in Milux in July last year with 2.9 million shares or a 5.33% stake.

Notable movements

Meda Inc Bhd’s stock hit 49 sen on Aug 29, the lowest level since end-November 2011. Year to date, the shares have shed more than 9%, in line with the weak property market. Meda ended last Wednesday at 50.5 sen.

During this spell of weakness, private company One Sierra Sdn Bhd has been paring its shareholding in Meda. One Sierra sold 3.43 million shares or a 0.71% stake, trimming its holding to 7.01%.

As at end-March, One Sierra had 51.54 million shares or 10.78% equity interest in Meda.

One Sierra is the vehicle of individuals Yuen Kok Meng and Chow Tet Ngee.

Independent power producer Malakoff Corp Bhd’s share price has gained more than 4% over the past month, closing at RM1.66 last Wednesday. In the middle of last month, the stock hit a 52-week high of RM1.80, before tapering off.

The funds that have been trading Malakoff’s shares include Kumpulan Wang Persaraan (Diperbadankan) or KWAP. During the period in review, KWAP bought 24.1 million Malakoff shares, nudging its holding up to 8.05% or 402.69 million shares.

As at end-June, the pension fund had 340.47 million shares or a 6.81% stake in Malakoff.

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