This article first appeared in Capital, The Edge Malaysia Weekly, on March 7 - 13, 2016.

Notable filings

Between Feb 22 and 26, one of the more notable changes in shareholding occurred at plantation and property counter DutaLand Bhd.

Privately held Seni Kasuari Sdn Bhd sold 16.7 million DutaLand shares, or 1.97%, and ceased to be a substantial shareholder. Checks on Bloomberg reveal that the block crossed at 47 sen or RM7.85 million in total, on Feb 22.

The shares could have been acquired by Duta Equities Sdn Bhd, the private vehicle of Tan Sri Yap Yong Seong, who controls DutaLand.

Duta Equities nudged up its shareholding to 46.45% after acquiring 16.88 million shares during the week in review.

A check with Companies Commission of Malaysia shows that Seni Kasuari is equally controlled by Barisan Nominees (Tempatan) Sdn Bhd, Abdul Razak Jalil, who is also a director, and Tiang Dat Sun. The other directors are Datuk Noradzman Mat Idris and Tan Aing Joo.

DutaLand shares closed at 46 sen last Tuesday.

At GD Express Carrier Bhd (GDex), managing director and CEO Teong Teck Lean bought 10.8 million shares at RM1.68 per share or RM18.14 million, increasing his shareholding to 510.09 million shares or 36.88% equity interest.

Since last August, GDex’s share price has gained more than 90%, and closed last Tuesday at RM1.65.

Early last month, Japanese giant Yamato group surfaced as a substantial shareholder in GDex with 9.08% equity interest after taking up a private placement of 124.89 million shares or 10% of the company at RM1.74 per share.

Its flagship, Japan-listed Yamato Holdings Co Ltd, has a market capitalisation of about US$9 billion and a strong delivery and logistics business unit, among others.

On Feb 23, AmanahRaya Trustees Bhd — Amanah Saham Bumiputera surfaced as a substantial shareholder in Malakoff Corp Bhd after it increased its shareholding from 251.43 million shares to 256.91 million shares or a 5.14% stake.

Since hitting a low of RM1.22 in late August last year, Malakoff’s stock has gained more than 30% and closed at RM1.60 last Tuesday.

At Sersol Bhd, privately held Malaysian Capital Management Sdn Bhd ceased to be a substantial shareholder after it sold 3.22 million shares on the open market. Malaysian Capital Management is the vehicle of individuals Saadiah Osman and Norah Abd Rahman.

Malaysian Capital Management first surfaced in paint manufacturer Sersol in April last year, after accumulating 19.53 million shares or 9.09% equity interest in a private placement. Since May last year, Sersol’s shares have lost some 67% of their value and closed at 13 sen last Tuesday.

Notable movements

Since the beginning of the year, glove manufacturer Kossan Rubber Industries Bhd’s shares have fallen some 30% to close at RM6.49 last Tuesday. The shares hit a record high of RM9.50 late last year.

Kossan’s trading volume has been relatively high as well, with the Employees Provident Fund (EPF) actively trading the rubber glove manufacturer’s shares. During the week in review, the EPF was a net buyer, snapping up 379,000 shares. The retirement fund now has 62.21 million shares or 9.73% equity interest in Kossan.

Generally, rubber glove manufacturers have benefitted from the strengthening US dollar as sales are denominated in the currency.

Since mid-January, Public Bank Bhd’s shares have gained about 5.5% or about RM1, and closed at RM18.52 last Tuesday.

The EPF has been actively trading the bank’s shares and was a net seller in the past few months. Earlier this year, the fund held 593.43 million shares or 15.4% equity interest. It has been aggressively trading the banking group’s stock and now has 582.46 million shares or a 15.1% stake.

The EPF is the second largest shareholder after founder and chairman Tan Sri Teh Hong Piow, who has a nearly 24% stake in the banking group.

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