Insider Moves: Datasonic Group Bhd, Econframe Bhd, Lambo Group Bhd, Nexgram Holdings Bhd, Acme Holdings Bhd, Trive Property Group Bhd

This article first appeared in Capital, The Edge Malaysia Weekly, on January 24, 2022 - January 30, 2022.
Insider Moves: Datasonic Group Bhd, Econframe Bhd, Lambo Group Bhd, Nexgram Holdings Bhd, Acme Holdings Bhd, Trive Property Group Bhd
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Notable filings

For the week of Jan 10 to 14, notable shareholding changes at Bursa Malaysia-listed companies included those at Datasonic Group Bhd, where Datuk Razali Mohd Yusof disposed of 11 million shares on the open market. This reduced his equity interest to 198.33 million shares, or direct and indirect stakes of 2.24% and 4.67% respectively.

Razali was a non-independent non-executive director of the company until he resigned on March 29, 2021, to pursue other interests. Interestingly, he was in the role for only a month, having been appointed on Feb 24 last year. Razali had been steadily paring down his equity interest in Datasonic since he resigned, when he still held 16.77%.

For the second quarter ended Sept 30, 2021, Datasonic’s net profit shrank 86.56% to RM1.01 million from RM7.53 million a year earlier. Revenue declined 30% to RM28.75 million from RM43.75 million.

Over at Econframe Bhd, non-independent non-executive director Lim Saw Nee disposed of 38.49 million shares, or an 11.84% stake in the company, according to filings with Bursa. The shares were sold in a direct business transaction for RM14.63 million, leaving Lim with 52.65 million shares, or a 16.2% stake.

On Jan 17, stock exchange filings revealed the emergence of a new substantial shareholder in Hooi Jia Hao after he acquired 25.26 million shares, or a 7.68% stake. This increased his equity interest to 9.73%, or 31.61 million shares.

The week in review also saw the emergence of a new substantial shareholder at Lambo Group Bhd after Morgan Stanley acquired 95.11 million shares, or a 6.17% stake. In a filing with Bursa, it was stated that Morgan Stanley “may exercise its right to rehypothecate or dispose of the acquired shares on Jan 7, 2022”.

Cheetah Holdings Bhd also upped its stake in Lambo, to 19.86% after acquiring 26.5 million shares on the open market. Koo Kien Yoon, executive director and a substantial shareholder of Lambo Group, is also a shareholder of Cheetah Holdings.

Meanwhile, Nexgram Holdings Bhd’s substantial shareholder Ozura Firstlogix Sdn Bhd disposed of 32.15 million shares in the company during the week in review. Post-disposal, Ozura was left with a 9.01% stake.

Notable movements

Acme Holdings Bhd’s share price fell 22% between Jan 10 and 14, from 23 sen to 18 sen. The share price continued to trend downwards, hitting 16 sen on Jan 19 to value the company at RM57.08 million.

Filings with Bursa revealed that Ooi Kian Chuan, through Inspire Sense Sdn Bhd, undertook several transactions that resulted in a net disposal of 10.65 million shares. The transactions left him with a 7.16% stake in the company as at Jan 14.

The original equipment manufacturer of plasticware saw a net loss of RM917,000 in its second quarter ended Sept 30, 2021, from a profit of RM1.13 million a year earlier. Revenue plunged to RM2.08 million from RM9.12 million previously.

Trive Property Group Bhd’s share price has been slipping. It fell 23% to 10 sen on Jan 14 from 13 sen on Jan 10. During the week in review, H’ng Bok Chuan disposed of 83 million shares on the open market.

Post-disposal, H’ng was left with 77.6 million shares in the company. He had emerged as a substantial shareholder on Dec 23, 2021, after taking up 160.6 million shares in a private placement exercise.

For its first quarter ended Oct 31, 2021, Trive’s net loss narrowed to RM829,000 from RM1.36 million a year earlier. However, revenue increased to RM2.79 million from RM1.76 million.

 

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