This article first appeared in Capital, The Edge Malaysia Weekly on August 10, 2020 - August 16, 2020
Notable filings
BETWEEN July 27 and 30, notable shareholding changes took place in several companies listed on Bursa Malaysia, including ACE Market-listed technology firm Aemulus Holdings Bhd.
In a July 27 filing, loss-making Aemulus said Bombalai Hill Ventures Sdn Bhd had ceased to be a substantial shareholder after disposing of 29.3 million shares or 5.33% equity interest on July 24. Bombalai Hill Ventures is controlled by sovereign wealth fund Khazanah Nasional Bhd. Neither the transaction price nor the identity of the buyer was disclosed in the filing.
In 2015, Khazanah — through Bombalai Hill Ventures — emerged as the second largest shareholder of Aemulus after subscribing for 65.83 million shares or 15% equity interest in a private placement exercise. Aemulus’ largest shareholder at the time was CEO Ng Sang Beng. Penang-headquartered Aemulus has been designing and developing automated test equipment and test and measuring instruments for the semiconductor industry since 2005.
Over at Johor-based thermo-vacuum formed plastic packaging manufacturer SCGM Bhd, Kumpulan Wang Persaraan (Diperbadankan) ceased to be a substantial shareholder after divesting 1.034 million shares or a direct stake of 0.53% on the open market on July 24. The transaction price and identity of the buyer were not revealed. It is estimated that the retirement fund still holds about 4.879% equity interest in SCGM.
Meanwhile, Koh Guat Kuan is no longer a substantial shareholder of home appliance manufacturer and distributor Khind Holdings Bhd after offloading 1.09 million shares or 2.72% equity interest off market on July 24. Koh is the wife of Cheng Ping Keat, executive director and CEO of Khind Holdings.
At Orion IXL Bhd, Elias Abdullah Ng ceased to be a substantial shareholder after disposing of 43.966 million shares or a direct stake of 5.647% on the open market on July 23. The disposal raised eyebrows as Ng had just emerged as a substantial shareholder of the company on July 21 after acquiring the shares through a private placement exercise.
Orion IXL is a technology and business solutions provider, whose customers include companies in the healthcare, oil and gas, property development, construction, hospitality, consulting, and information and communications technology sectors, as well as government agencies and local authorities.
Notable movements
ACE Market-listed Green Ocean Corp Bhd saw its share price almost triple in a space of two weeks — from 12 sen on July 22 to 32 sen at last Wednesday’s close. This gave the company a market capitalisation of RM92.7 million.
On July 27, Khoo Chee Siang ceased to be a substantial shareholder of Green Ocean after disposing of 28 million shares or a direct stake of 9.66% on the open market. A July 28 filing shows that Khoo, an independent non-executive director of the company, sold the block of shares for RM6.58 million or 23.5 sen apiece. The 43-year-old also sits on the board of Chin Hin Group Property Bhd (formerly known as Boon Koon Group Bhd) as an independent non-executive director, as well as SCH Group Bhd as a non-independent, non-executive director.
Green Ocean had been involved in palm kernel crushing, crude palm kernel oil, palm kernel expelling and trading of palm oil products before venturing into the biomass, alternative material, energy and fuel markets.
Penang-based factory automation equipment and technology solutions specialist Pentamaster Corp Bhd has seen its share price surge 187% from a year-to-date low of RM1.65 on March 23. The counter closed at RM4.74 last Wednesday, giving the company a market capitalisation of RM3.376 billion.
A July 30 filing shows that Kumpulan Wang Persaraan (Diperbadankan) is no longer a substantial shareholder of Pentamaster after divesting 917,200 shares or an indirect stake of 0.128% on the open market on July 29. It is estimated that the retirement fund still holds a 4.936% stake in the company.
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