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NOTABLE filings

Between March 16 and 20, among the notable shareholding changes that took place was at special purpose acquisition company (SPAC) CLIQ Energy Bhd. 

Credit Suisse Group AG, which surfaced as a substantial shareholder in the company in mid-October last year, has been paring down its stake.

During the week in review, Zurich-based Credit Suisse actively traded CLIQ shares, but was a net seller by slightly more than four million shares. It now has 41.9 million shares or a 6.6% stake in the SPAC.

In October last year, CLIQ Energy’s shares were traded at between 62 sen and 64 sen, which would indicate that Credit Suisse made a gain on its sale. CLIQ Energy closed at 66 sen last Wednesday.

Last week, CLIQ Energy announced that it is looking to buy a 51% stake in a special purpose vehicle that owns and operates two oilfield blocks in Kazakhstan for RM433.4 million in a complex deal.

At construction and civil engineering company Mitrajaya Holdings Bhd, the Employees Provident Fund (EPF) has been actively trading the company’s shares and ceased to be a substantial shareholder after selling 155,400 shares during the week in review.

The EPF surfaced as a substantial shareholder early this month, but could have been accumulating Mitrajaya shares earlier on.

Until late January, Mitrajaya’s shares had been trading below the RM1 band, but has since gained momentum and closed at RM1.62 last Wednesday.

Between September 2014 and January this year, Mitrajaya secured four construction jobs with a total value of almost RM1.1 billion.

Over at Masterskill Education Group Bhd, Siva Kumar M Jeyapalan ceased to be a substantial shareholder after he sold a 23% stake or 86.5 million shares at 60 sen apiece. The buyers were SMRT Holdings Bhd and private equity firm Creador.

Masterskill’s shares ended trading last Wednesday at 61.5 sen.

At plantation company Felda Global Ventures Holdings Bhd (FGV), the EPF trimmed its stake to 5.5% or 200.4 million shares from 5.9% or 214 million shares in late December last year.

Besides the EPF, Kumpulan Wang Persaraan (Diperbadankan) (KWAP) has also been paring down its stake in FGV, and now has 212.4 million shares or a 5.8% stake. Late last year, KWAP had 244.1 million shares or 6.7% equity interest in FGV.

It is worth noting that FGV’s shares were traded at above RM3.50 last December in contrast to current depressed prices. FGV closed last Wednesday at RM2.12.

Notable movements

Since early this year, diversified Cahya Mata Sarawak Bhd’s stock has gained 15% or 56 sen, closing last Wednesday at RM4.52.

While the reasons for the strong gains are not known, the EPF has been actively trading Cahya Mata’s shares. Considering the provident fund now has just over 8% interest or 83.5 million shares, it would seem that it has been a net buyer as it held only 81.7 million shares or a 7.8% stake in the early part of the year.

Cahya Mata is 40%-controlled by the family of Yang di-Pertua Negeri of Sarawak Tun Abdul Taib Mahmud.

Other than Sarawak-based Cahya Mata, the EPF has also been actively trading SapuraKencana Petroleum Bhd’s stock.

SapuraKencana’s shares have dipped about 20%, or 60 sen, since the middle of last month, and ended trading last Wednesday at RM2.32.

During the week in review, the EPF accumulated some 15.6 million shares in the oil and gas conglomerate, raising its shareholding to 15% or 898.3 million shares.

SapuraKencana’s shares have taken a beating, in line with weak crude oil prices. In end-2013, the stock was at a record high of RM4.89, but a year later, it shed 58% and hit a multi-year low of RM2.06.

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This article first appeared in Capital, The Edge Malaysia Weekly, on March 30 - April 5, 2015.

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