Insider Moves: Censof Holdings Bhd, Astro Malaysia Holdings Bhd, MMC Corp Bhd, Media Prima Bhd, Westports Holdings Bhd, MISC Bhd

This article first appeared in Capital, The Edge Malaysia Weekly, on May 4, 2020 - May 10, 2020.
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Notable filings

BETWEEN April 20 and 24, notable shareholding changes in Bursa Malaysia-listed companies included that at Censof Holdings Bhd, which saw Tan Chean Suan surface as a substantial shareholder in the financial service solutions and e-payment gateway service provider with 26.82 million shares or 5.34% equity interest on April 22.

Tan is the CEO of privately held TCSens Sdn Bhd, a company involved in providing radio frequency identification solutions.

Censof’s share price hit its multiple-year low of 3.5 sen in mid-March, but has since bounced back to close at 10.5 sen last Tuesday, giving the company a market capitalisation of RM52.68 million.

At media and entertainment outfit Astro Malaysia Holdings Bhd, the Employees Provident Fund (EPF) pared down its stake during the period in review, selling 21.25 million shares. After the disposal, the provident fund has 403.2 million shares or a 7.73% stake.

Astro’s share price hit its 52-week low of 70.5 sen in mid-March, but has since gained 33% to close last Tuesday at 94 sen, giving the company a market value of RM4.9 billion.

Astro’s controlling shareholder is businessman T Ananda Krishnan, who owns 41.29% of the company.

Ministry of Finance-controlled Urusharta Jamaah Sdn Bhd ceased to be a substantial shareholder of MMC Corp Bhd after disposing of 5.93 million shares or a 0.19% stake during the period in review.

This did not come as a surprise as Urusharta Jamaah has been trimming its stake in the diversified company for some time now. As at mid-March last year, it had 233.82 million shares or a 7.68% stake in MMC.

Urusharta Jamaah had taken over a number of assets — stakes in 106 listed companies and an unlisted plantation firm as well as 29 properties, including four hotels and a parcel of land at Tun Razak Exchange — from Lembaga Tabung Haji at end-2018, forking out RM19.9 billion in the process.

Last Tuesday, MMC ended trading at 65.5 sen, giving it a market capitalisation of RM1.99 billion.

MMC is the flagship company of businessman Tan Sri Syed Mokhtar Albukhary, who owns 51.76% equity interest.

At Media Prima Bhd, the EPF reduced its stake to 6.02% or 66.79 million shares after disposing of 54.48 million shares in the company during the period in review.

Media Prima’s share price hit its multiple-year low of 12 sen at end-March. It closed last Tuesday at 15 sen, giving the company a market capitalisation of RM166.38 million. Media Prima owns newspapers New Straits Times and Berita Harian and a host of TV and radio stations.

 

Notable movements

Westports Holdings Bhd’s share price hit a low of RM3.12 on March 24, but has since rebounded, gaining 62 sen or almost 20% to close at RM3.72 last Tuesday. At RM3.72, Westports is valued at RM12.69 billion.

During this period, the EPF has been actively trading Westports shares. It was a net buyer, picking up 5.34 million shares in the container terminal operator during the period in review. Post-purchase, its shareholding rose to 6.13% or 209.17 million shares.

Meanwhile, Kumpulan Wang Persaraan (Diperbadankan) was a net seller, disposing of 48,000 Westports shares. After the disposal, it still owns 174.79 million shares or 5.12% equity interest.

Over the past month or so, MISC Bhd’s share price has gained RM1.65 or almost 25% to close last Tuesday at RM8.38, giving the shipping company a market value of RM37.4 billion.

During the period in review, the EPF bought a little more than six million MISC shares, raising its stake to 8.15% or 365.5 million shares.

MISC is a 57.56% unit of national oil company Petroliam Nasional Bhd.

 

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