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This article first appeared in Capital, The Edge Malaysia Weekly on May 18, 2020 - May 24, 2020

Notable filings

BETWEEN May 4 and 8, notable filings included that at Advance Synergy Bhd, which saw non-independent non-executive director Aryati Sasya Ahmad Sebi emerge as a substantial shareholder after acquiring 15 million shares, or a 1.6% stake, through a direct deal.

Aryati is the daughter of Advance Synergy group chairman Datuk Ahmad Sebi Bakar, the single-largest shareholder of the company with a 23.28% stake.

Over at KSL Holdings Bhd, the Ku brothers increased their stake in the company during the week in review. Chairman Ku Hwa Seng raised his stake by 12 million shares, or 1.18%, in an off-market transaction, bringing his total direct holding to 9.13%.

Similarly, group managing director Khoo @ Ku Cheng Hai acquired 12 million shares to increase his holding to 9.47%, while executive director Ku Tien Sek increased his stake by 1.17%, or 11.9 million shares, to 6.57%.

The brothers hold shares in KSL Holdings through their private vehicles Gorgeous Horizon Sdn Bhd (1.14%) and Premiere Sector Sdn Bhd (31.81%).

Collectively, they now own 58.13% of KSL Holdings.

The market has often wondered whether the brothers have bigger plans for the company, which has shown a healthy profit over the years. For the financial year ended Dec 31, 2019, the company reported a net profit of RM247.24 million, up 10.8% from a year earlier.

Malayan United Industries Bhd saw substantial shareholder Noble Faith Foundation Inc dispose of a total of 64.92 million shares, or a 2.2% stake, in the company during the week in review. The transaction, via a direct business deal, reduced Noble’s holding to 7.4%.

In March, MUI announced that its UK-listed retailer, Laura Ashley Holdings plc, had filed for administration amid the Covid-19 outbreak, which pushed the latter to the brink as cash flow ran dry. MUI said the pandemic had an immediate and significant impact on the retailer’s trading.

Meanwhile, Cita Realiti Sdn Bhd ceased to be a shareholder of mTouche Technology Bhd after disposing of 13.3 million shares in the company. At the same time, Cita Realiti purchased 8.3 million shares in Sanichi Technology Bhd, raising its holding to 21.31%.

Cita Realiti remains the largest shareholder of Sanichi.

 

Notable movements

G3 Global Bhd’s shares have been rising steadily over the last few weeks. Between April 30 and May 8, the counter gained 41% to RM3.01 from RM2.13.

On May 8, filings with Bursa Malaysia show that Chin Boon Long, who is well known in the investing fraternity, ceased to be a substantial shareholder of the company after disposing of 29.5 million shares through Fountainberry Sdn Bhd.

Post-disposal, Fountainberry’s stake in the company was reduced to 2.19%.

The recent rise in the company’s shares can be linked to news of its partnership with the Malaysia Automotive, Robotics & IoT Institute (MARii), which was announced on May 6 and saw the stock hit limit up, surging 30%.

Meanwhile, the share price of Key Asic Bhd more than doubled between April 30 and May 12, jumping from 5.5 sen to 12.5 sen.

During the week in review, a new substantial shareholder — Singaporean Ng Geok Lui — emerged after acquiring 81 million shares through a private placement. Post-placement, Ng’s stake in the company increased to 9.91%.

The placement is the fourth tranche of Key Asic’s fundraising exercise and the shares were issued at 4.13 sen each, or a discount of 9.8% to the five-day volume-weighted average price of 4.58 sen up to April 22.

 

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