Notable filings

BETWEEN March 20 and 24, notable filings included that by Bio Osmo Bhd, which saw Datuk Chong Thin Choy lock in some profit on his investment five months ago.

Chong emerged as a substantial shareholder on Oct 24 last year after buying 95 million shares, or a 13.14% stake, in a private placement at five sen each or RM4.75 million. He retains a stake of 11.62% after selling 11 million shares at 8.5 sen apiece or RM935,000 in total on the open market between March 17 and 22, a filing last Thursday shows.

The selling price was a 5% discount to the closing price of nine sen on those days. Over the last month, the counter has been hovering at between 6 and 10 sen a piece.

Last Wednesday, Bio Osmo announced plans to place out 10% of its share base, or about 72.3 million new shares, at no more than a 10% discount to the stock’s five-day weighted average market price. At the indicative price of eight sen, the exercise would raise RM5.78 million, RM2.24 million of which is slated for operating expenses, RM1.5 million for business expansion, RM1 million to repay creditors, RM800,000 for maintenance and repair and RM250,000 for placement expenses.

For the second quarter ended Dec 31 last year, the bottled water manufacturer posted a net loss of RM1.38 million, from RM1.66 ­million ­previously. Revenue improved 80.45% to RM2.7 million.

Tadmax Resources Bhd saw its former deputy chairman Datuk Faizal Abdullah ceasing to be a shareholder after he disposed of his entire stake of 27 million shares.

For the fourth quarter ended Dec 31 last year, Tadmax Resources fell into the red with a net loss of RM4.29 million. A year ago, it made a net profit of RM1.23 million.

The company said it had recognised in the previous year a one-time profit on the disposal of a subsidiary. Revenue increased 54.66% to RM13.62 million.

Over at Techodex Bhd, Ace Credit (M) Sdn Bhd acquired 24.98 million shares on March 17, 20 and 21, raising its holdings in the information technology services provider to 10.89%. For the third quarter ended Jan 31 this year, Techodex’s net profit increased to RM160,000 from RM5,000 a year ago on the back of 170% jump in revenue to RM17.01 million.

Garment manufacturer turned property developer Yong Tai Bhd saw CEO Datuk Wira Boo Kuang Loon increase his stake to 10.72% after buying 8.32 million shares on March 14 and 20. In one year, Yong Tai’s share price has surged 70.2%, from 84 sen each to RM1.43 last Wednesday.

Notable movements

Iskandar Waterfront City Bhd’s (IWC) share price surged 173.6% between Feb 6 and March 27. Filings show that Creed Asia Development Sdn Bhd acquired 56.67 million shares in IWC on March 3, making it a substantial shareholder with a 6.88% stake. The acquisition was made following an agreement with Danga Eight Sdn Bhd.

Shortly after Creed Asia Development acquired the IWC shares, Iskandar Waterfront Holdings Sdn Bhd (IWH) proposed to take over the listing status of IWC through a one-for-one share swap for the 61.7% of IWC it did not already own with shares in the enlarged IWH.

IWH’s joint-venture company IWH-CREC Sdn Bhd owns 60% of Bandar Malaysia, which is 40%-owned by the Ministry of Finance Inc. The land is reportedly included in the corporate exercise.

Dutaland Bhd saw its share price increase 11.1% between March 1 and 20. On March 20, the plantation and property development counter hit a 52-week high, closing at 50 sen apiece. On that day, group managing director Tan Sri Yap Yong Seong acquired 8.1 million shares in Dutaland through Duta Equities Sdn Bhd, raising his stake to 21.17%. Dutaland closed at 47 sen last Wednesday.

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