Insider Moves: APFT Bhd, Bahvest Resources Bhd, Hubline Bhd, Sin Heng Chan (M) Bhd, Iris Corp Bhd, Media Prima Bhd

This article first appeared in Capital, The Edge Malaysia Weekly, on July 22, 2019 - July 28, 2019.
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Notable filings

BETWEEN July 8 and 12, notable filings included those at APFT Bhd, which saw non-executive director Liau Chee Kiong dispose of 10 million shares, or a 0.7% stake, on the open market. Post-disposal, Liau holds 54.78 million shares or a 4.1% stake in the company.

APFT recently signed a memorandum of business collaboration agreement with Malaysian Aviation Training Academy Sdn Bhd to form the largest training centre for aviation professionals in Malaysia.

Both parties will be sharing their resources and knowledge to facilitate the application of various licences. The licences, under the Civil Aviation Authority of Malaysia, include Approved Flying Training Organisation, Maintenance, Repair and Overhaul and Air Operator Certificate.

Bahvest Resources Bhd saw its executive director, Akinori Hatani, cease to be a shareholder after he disposed of 358,200 shares at 67 sen apiece via an off-market transaction.

For the fourth quarter ended March 31, 2019, Bahvest saw its net profit drop 87.4% to RM8.62 million from RM68.18 million a year ago. This was despite its revenue jumping to RM31.82 million from RM755,000 previously.

In its financial year ended March 31, 2019, net profit slumped 70% year on year to RM5.55 million despite revenue almost tripling to RM65.05 million from RM22.22 million a year ago.

Over at Hubline Bhd, Billion Power Sdn Bhd acquired 55 million shares in the company via off-market deals. This increased its holding to 290.35 million shares or 7.6%. The other party involved in the deal is unknown at this juncture.

For the second quarter ended March 31, 2019, Hubline recorded a net profit of RM452,000 — an increase of RM134,000 or 42% from a year ago. Revenue rose 11.4% year on year to RM24.55 million.

Plantation company Sin Heng Chan (M) Bhd saw its directors, Sheldon Wee Tan Poh and Lee Kok Choon, each disposing of 2.5 million shares for RM825,000. After the disposal, both are no longer shareholders of the company.

In May, Sin Heng Chan announced that it was selling a tract in Melaka for RM14.39 million to Sumber Setiamas Sdn Bhd for a gain of RM4.6 million. The proceeds will be used to finance its day-to-day operations as well as to pare down its borrowings.

For the first quarter ended March 31, 2019, the plantation company sank deeper into the red with a net loss of RM2.28 million from RM1.42 million a year ago. This was despite its revenue increasing 17.3% to RM6.80 million.


Notable movements

During the period under review, Iris Corp Bhd’s share price gained 0.5 sen or 3.45% to 15 sen.

Filings with Bursa Malaysia show that directors Poh Soon Sim and Ling Hee Keat had increased their stakes in the company after acquiring 6.33 million shares and 31.7 million shares respectively.

Post-acquisition, Poh has a 0.63% direct stake while Ling has 3.26% equity interest.

Filings also show that Datuk Seri Robin Tan had increased his stake in Iris Corp to 9.12% after acquiring 10 million shares. He is the CEO of Berjaya Corp Bhd.

Over at Media Prima Bhd, the company saw its share price gain 40.48%, from 35 sen to 49 sen, between June 3 and July 16.

Shareholder Aurora Mulia Sdn Bhd, a company linked to Tan Sri Syed Mokhtar Albukhary, increased its stake in the media company from 11.09% to 16.05% after acquiring 55 million shares on July 11, filings show.

Aurora Mulia first emerged as a shareholder in the company after buying an 11.09% stake from Umno-linked Gabungan Kesturi Sdn Bhd on July 2.


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