Insider Moves: EA Technique (M) Bhd, Seacera Group Bhd, Seacera Group Bhd, Trive Property Group Bhd, Utusan Melayu (Malaysia) Bhd, Bahvest Resources Bhd, Hartalega Holdings Bhd

This article first appeared in Capital, The Edge Malaysia Weekly, on February 25, 2019 - March 03, 2019.
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Notable filings

FROM Feb 11 to 15, among the notable changes in companies listed on Bursa Malaysia were those at oil and gas services provider EA Technique (M) Bhd.

Datin Hamidah Omar ceased to be a substantial shareholder of the company after disposing of 1.8 million shares or a 0.36% stake during the week in review.

Hamidah is the wife of Datuk Abdul Hak Md Amin, the managing director and a substantial shareholder of EA Technique. The group’s annual report for FY2017 shows that Hamidah owned a direct 5.09% stake or 25.64 million shares in the company as at March last year, while Abdul Hak had a 16.78% direct and 5.2% indirect stake.

EA Technique closed at 49 sen last Wednesday, giving it a market capitalisation of RM246.96 million.

Over at ceramic player Seacera Group Bhd, Datuk Tan Wei Lian surfaced as a shareholder with 31.51 million shares, or a 7.48% stake, that he had accumulated on the open market. Tan is the executive chairman and a shareholder — with 10% equity interest — of property developer Tiger Synergy Bhd.

Seacera hit a 52-week low of 15.5 sen at end-October last year. Since then, the stock has gained more than 116%, buoyed by heavy trading volume. The counter closed at 33 sen last Wednesday, giving the company a market capitalisation of RM139.89 million.

On Feb 11, Trive Property Group Bhd saw the emergence of a new substantial shareholder, AT Precision Tooling Sdn Bhd, after the wholly-owned subsidiary of AT Systematization Bhd subscribed for 213.32 million shares or a 9.86% stake in Trive Property via a private placement.

AT Systematization is involved in designing, manufacturing and fabricating industrial automation systems, machinery and industrial and engineering parts.

Prior to AT Systematization buying into Trive Property, the latter did not have any substantial shareholders.

Trive Property has bled losses for the last five quarters and last registered significant revenue streams in 2015. Last Wednesday, the stock closed at two sen, translating into a market capitalisation of RM46.93 million.

At Utusan Melayu (Malaysia) Bhd, Umno sold 35 million shares or a 31.62% stake in the media group, leaving it with 20.11 million shares or 18.16% equity interest.

Umno’s block was acquired by Datuk Abd Aziz Sheikh Fadzir, who was appointed as executive chairman of Utusan in January. Abd Aziz had bought the stake at 19 sen a share — or RM6.65 million in total — a premium of 7.5 sen or 65.2% to the stock’s last traded price of 11.5 sen.

Utusan closed at 20 sen last Wednesday, giving it a market capitalisation of RM22.15 million.


Notable movements

Glove maker Hartalega Holdings Bhd saw its share price hit a 52-week low of RM4.92 on Jan 10, brought about by the strengthening of the ringgit, firmer crude oil prices and investors reducing their exposure after a good run, which lasted more than two years.

Since then, the counter has gained almost 10% or 55 sen, closing at RM5.47 last Wednesday.

Hartalega’s trading volume has been relatively high as well, buoyed by the Employees Provident Fund (EPF) trading the glove maker’s shares. During the week in review, the EPF acquired 12.17 million shares or a 0.36% stake in Hartalega, nudging its holding up to 211.21 million shares or 6.34%.

Last November, the EPF had a 6.17% stake or 205.31 million shares, which would indicate that the retirement savings fund has been a net buyer.

Since hitting a 52-week low of 32.5 sen on Dec 19 last year, Bahvest Resources Bhd has rebounded about 49% to close at 50 sen last Wednesday.

Trading volume has also picked up, with Lembaga Tabung Haji divesting of 5.67 million shares during the week in review, trimming its holding to 92.58 million shares or 7.58%.

The pilgrim fund commenced its selling of Bahvest shares only this month.

Bahvest, formerly known as Borneo Aqua Harvest Bhd, is involved in the rearing of fish and, more recently, mining.


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