Insider Moves: Aturmaju Resources Bhd, Thriven Global Bhd, Straits Inter Logistics Bhd, Bahvest Resources Bhd, Malaysia Airports Holdings Bhd, Hartalega Holdings Bhd

This article first appeared in Capital, The Edge Malaysia Weekly, on April 1, 2019 - April 07, 2019.
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Notable filings

OVER the week of March 18 to 22, notable changes in shareholding in companies listed on Bursa Malaysia included those at wood-processing outfit Aturmaju Resources Bhd.

Privately held Affinity Gateway Sdn Bhd, which is controlled by Datuk Yeo Wang Seng, ceased to be a substantial shareholder in Aturmaju after selling 1.52 million shares, or a 1.5% stake.

Yeo controls more than 30% of Aturmajur via Affinity Gateway and Aspirasi Puspita Sdn Bhd.

Aturmaju’s share price hit a 52-week high of 60 sen on Jan 17, but has since tapered off to close at 37 sen last Wednesday, giving it a market capitalisation of RM40.11 million.

At property company Thriven Global Bhd (formerly Mulpha Land Bhd), Datuk Lim Chee Meng surfaced as a substantial shareholder after taking up 30 million shares in a private placement, nudging his shareholding up to 54.11 million shares, or 9.89%.

Lim is a known corporate player and is a member of the family that controls more than 50% of water treatment player Taliworks Bhd.

In July 2017, another member of the Lim family, Chee Khang, ceased to be a substantial shareholder in Thriven.

Thriven’s stock has been volatile, trading at 18 sen to 28 sen over the last six months, and closed at 22 sen last Wednesday, giving the company a market capitalisation of RM120.39 million.

At Straits Inter Logistics Bhd (formerly Raya International Bhd), privately held CBL (M) Sdn Bhd ceased to be a substantial shareholder after it disposed of its entire 32.17 million shares, or 5.15% equity interest, during the week in review.

In mid-March, CBL had sold 11.65 million shares in Straits Inter Logistics, trimming its stake to 5.15% in the filter manufacturer.

Since early February, Straits Inter Logistics shares have gained momentum, buoyed by higher trading volume, and gained more than 25% to close at 27 sen last Wednesday, giving the company a market capitalisation of RM168.66 million.

Lembaga Tabung Haji (TH) ceased to be a substantial shareholder in Bahvest Resources Bhd (formerly Borneo Aqua Harvest Bhd), which is involved in fish breeding and gold mining.

During the week in review, TH sold 11.47 million shares or 0.94% of Bahvest, leaving it with less than 5% of the company. The pilgrim fund had first surfaced in Bahvest in January 2016.

Since mid-December last year, Bahvest’s stock has gained more than 105%, and hit a 52-week high of 74 sen on March 18. Bahvest ended trading last Wednesday at 69 sen, giving it a market capitalisation of RM844 million.

 

Notable movements

Malaysia Airports Holdings Bhd (MAHB) hit a 52-week low of RM6.90 on March 25. The share price of the airport operator has declined sharply and is down by as much as 13% since end-February.

During this period of weakness, the Employees Provident Fund (EPF) has been trading MAHB shares but has been a net acquirer.

EPF acquired 8.65 million MAHB shares during the week in review, pushing up its shareholding to 200.05 million shares, or 12.06% equity interest.

In mid-January, EPF had 184.03 million shares or 11.09% in MAHB.

MAHB closed at RM7.29 last Wednesday, translating into a market capitalisation of RM12.09 billion.

Hartalega Holdings Bhd dropped to a 52-week low of RM4.52 on March 22. Since early this year, the shares of the rubber glovemaker have shed as much as 24%, closing at RM4.63 apiece last Wednesday, giving the company a market value of RM15.48 billion.

During the week in review, the EPF was largely selling Hartalega shares, cutting its shareholding by as much as 6.25 million shares, or almost 0.2% of the company’s share base, leaving it with a 7.03% stake or 235.23 million shares. In early January, the EPF had 216.32 million shares or 6.49% equity interest in Hartalega.