This article first appeared in Capital, The Edge Malaysia Weekly on March 28, 2022 - April 3, 2022
Notable filings
For the week of March 14 to 18, notable shareholding changes at Bursa Malaysia-listed companies included those at electronics contract manufacturer BSL Corp Bhd.
On March 4, Arena Evolusi Sdn Bhd acquired 28.99 million BSL shares, representing an 11.77% stake, via a private placement. The shares were transacted at 25.53 sen apiece or for a total of RM7.4 million. However, a subsequent filing with Bursa Malaysia shows that Arena Evolusi had on March 16 disposed of 21.59 million BSL shares or an 8% stake on the open market.
A company search shows that Tajul Khalil Mohammad is listed as the sole shareholder of Arena Evolusi.
Over at pipe manufacturer Fitters Diversified Bhd, a total of 21.35 million shares, representing a 3.8% stake in the company, were disposed of by Cita Realiti Sdn Bhd on March 14. Post-disposal, the company ceased to be a substantial shareholder in Fitters.
However, a week later, on March 21, Cita Realiti, together with Arena Evolusi, emerged as a substantial shareholder of Fitters, via a private placement subscription of 47 million shares or an 8.4% stake.
A company search shows that Kamarudin Khalil is listed as the sole shareholder of Cita Realiti.
The week in review also saw shareholding changes at apparel manufacturer and fashion retailer Jerasia Capital Bhd. Yee Jia Cheng acquired 6.2 million Jerasia shares, representing a 7.5% stake, and became a substantial shareholder in the company.
Meanwhile, Jerasia executive deputy chairman Datuk Yap Fung Kong ceased to be a substantial shareholder in the company, following the disposal of 1.85 million shares or a 2.25% stake.
Earlier this month, Jerasia had announced that three of its wholly-owned subsidiaries had applied for a judicial management order to facilitate restructuring and regularisation of their finances. The subsidiaries — Jerasia Fashion Sdn Bhd, Jerasia Apparel Sdn Bhd and Canteran Apparel Sdn Bhd — had been operating under adverse financial and operational conditions since the outbreak of the Covid-19 pandemic.
Over at Kulim-based high-precision component parts manufacturer Wong Engineering Corp Bhd, Ong Yoong Nyock disposed of 10.4 million shares, representing a 4.31% stake in the company.
After the disposal, Ong’s shareholding in the company stands at 71.43 million shares or a 29.6% stake. Ong is the brother-in-law of Yong Loy Huat, the executive director and CEO of Wong Engineering. He is also the managing director and major shareholder of Tiong Nam Logistics Holdings Bhd.
Meanwhile, Goh Ching Mun, who is best known for co-founding the OldTown White Coffee restaurant chain, sold 33.38 million shares or a 1.25% stake in TWL Holdings Bhd (formerly known as Tiger Synergy Bhd) during the week in review. Post-disposal, Goh’s stake in the company stands at 226.2 million shares or an 8.4% stake.
Notable movements
Shares in Pertama Digital Bhd (formerly known as Sinotop Holdings Bhd) have appreciated 37%, from 61 sen on Jan 24 to 84 sen last Wednesday. During the week in review, Perfect Hexagon Commodity and Investment Bank Ltd acquired 11.57 million Pertama Digital shares, or a 2.7% stake.
Perfect Hexagon, a commodity and investment bank that holds a Labuan Investment Banking licence, currently has a 21.8% stake in Pertama Digital.
Pertama Digital, which is reported to be vying for a digital banking licence, announced in December last year that it was venturing into fibre broadband services. The firm, which provides services to fintech and govtech companies, said it was in advanced investment and collaboration negotiations with iFIBER Holdings Sdn Bhd that were formalised in a Memorandum of Understanding. It said through this partnership, Pertama Digital and iFIBER would seek to deliver gigabit-speed internet connectivity at affordable rates.
Meanwhile, shares in Country Heights Holdings Bhd, which is controlled by businessman Tan Sri Lee Kim Yew, have plunged as much as 47%, from RM2.45 on March 1 to RM1.29 last Wednesday. During the week in review, Joint Win Investment Ltd BVI disposed of 4.76 million shares or a 1.62% stake in the company, and ceased to be a substantial shareholder in the company.
The group announced in December last year that it had inked a licensing agreement and a collaboration agreement with Beijing Wodong Tianjun Information Technology Co Ltd (JD.com) as part of its digital transformation plan.
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