Insider Moves

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Notable filings

Between March 2 and 6, notable shareholding changes in companies listed on Bursa Malaysia included ABRIC Bhd, which saw its second largest shareholder Pui Cheng Wui increasing his stake to 16.77% from 13.46%.

Pui first emerged as a substantial shareholder on Jan 16, after he converted the company’s warrants into 13.4 million shares or a 9.57% stake.

As at March 1, he had raised his stake to 13.46%. Between March 2 and 6 he purchased 4.65 million shares, raising his total holding to 23.6 million shares or 16.77%.

ABRIC (fundamental: 1.70; valuation: 2.40), a Practice Note 16 issuer, is in the midst of regularising its accounts and operations, after disposing of its core business in the manufacturing, selling and distribution of security sealing to ESNT International Ltd for RM146 million at the end of last year.

Meanwhile, at Berjaya Food Bhd (BFood), UBS AG emerged as the second largest shareholder on Feb 26 after acquiring 20 million shares or a 5.38% stake.

BFood (fundamental: 1.55; valuation: 1.50) saw its net profit rise 7.25% year-on-year to RM8.64 million for the third quarter ended Jan 31, 2015 (3QFY15), mainly due to the full effect of the consolidation of newly-acquired Berjaya Starbucks Coffee Co Sdn Bhd as well as contribution from its Starbucks operations in Brunei.

BFood operates the Kenny Rogers Roasters restaurant chain in Malaysia, Indonesia and Cambodia, as well as Starbucks in Malaysia and the Jollibean chain in Singapore.

Tan Ching Ling re-emerged as a substantial shareholder of ES Ceramics Technology Bhd (fundamental: 3.00; valuation: 1.80) through the acquisition of 10.02 million shares or a 5.27% stake between Feb 24 and 26. Tan ceased to be a substantial shareholder of the ceramics dipping formers manufacturer on Nov 12 last year.

At Imaspro Corp Bhd (fundamental: 1.45; valuation: 0.60), its second largest shareholder and non-executive chairman Mohamad Shafek Isa, through Sunbina Dunia Sdn Bhd, disposed of 4.723 million shares or a 5.9% stake between Feb 25 and March 3.

At Niche Capital Emas Holdings Bhd (fundamental: 0.75; valuation: 0.60), Pang Ling increased her shareholding to 8.84% by acquiring 12.1 million shares or a 5.19% stake on Feb 26. Pang Ling is the single largest individual shareholder in the company, with creditor banks making up the other substantial shareholders.

Datin Choong Chow Mooi acquired two million shares or a 1.44% stake in Tomei Consolidated Bhd (fundamental: 0.15; valuation: 1.20) at 58 sen per share on March 3. Choong’s husband is Datuk Ng Yih Ping, who is a member of the Ng family that controls more than 45% of the jewellery distributor.

Chew Chee Chek ceased to be a substantial shareholder of Wellcall Holdings Bhd (fundamental: 3.00; valuation: 2.10) after disposing of 6.25 million shares or a 1.88% stake on March 3. The rubber hose manufacturer declared a first interim dividend of 2.3 sen per share on Feb 26 for its first quarter ended Dec 31, 2014.

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Notable movements
Ghazie Yeoh Abdullah increased his effective stake in Mulpha Land Bhd (fundamental: 1.30; valuation: 2.40) to 21.27 million shares or 9.3% after acquiring an additional 1.625 million shares or a 0.71% stake on March 4, according to a filing with Bursa Malaysia.

During the period under review, Mulpha Land’s share price increased by 11.1% to 55 sen. Mulpha Land announced on March 6 that Teladan Kuasa Sdn Bhd, a company controlled by Datuk Fakhri Yassin Mahiaddin, has executed a call option, which translates into a holding of 32.85% stake in the group.

Ghazie, who is group managing director of Mulpha Land, is deemed a person acting in concert with Teladan Kuasa, as he is a shareholder of Pasukan Sehati Sdn Bhd, along with another director Datuk Low Keng Siong and Lim Chee Kang. Together, Teladan Kuasa and Pasukan Sehati now own 50.38% of Mulpha Land.

At Inari Amertron Bhd (fundamental: 1.55; valuation: 1.20), director Ho Phon Guan disposed of three million shares or a 0.42% stake via a direct business transaction on Feb 25, according to the group’s filing dated March 2 on Bursa Malaysia’s website.

Between March 2 and 6, Inari’s share price increased by 6.54% to RM3.26. The electronics manufacturing services firm has seen its share price surge since late February, when market talk was rife that it was looking to acquire Dufu Technologies Bhd. Inari has denied the speculation.

Note: The Edge Research’s fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations. Visit www.theedgemarkets.com for more details on a company’s financial dashboard.

 

This article first appeared in The Edge Malaysia Weekly, on March 16, 2015.