This article first appeared in Capital, The Edge Malaysia Weekly on May 25, 2020 - May 31, 2020

Notable filings

BETWEEN May 11 and 15, notable shareholding changes in companies listed on Bursa Malaysia included that at Eco World Development Bhd, where the Employees Provident Fund (EPF) ceased to be a substantial shareholder after disposing of 6.2 million shares or a 0.21% stake in the property developer.

Over at KSL Holdings Bhd, Urusharta Jamaah Sdn Bhd ceased to be a substantial shareholder of the property developer after divesting 35.9 million shares or a 3.46% stake. Urusharta originally had a 6.92% stake in KSL, which it took over from Lembaga Tabung Haji.

A special-purpose vehicle (SPV) under the Ministry of Finance, Urusharta Jamaah is tasked with overseeing and reviving the non-performing assets of Tabung Haji.

Urusharta Jamaah recently ceased to be a substantial shareholder of Uzma Bhd, Alam Maritim Resources Bhd, CSC Steel Holdings Bhd, MCT Bhd, Eastern & Oriental Bhd, WCT Holdings Bhd, Star Media Group Bhd and Puncak Niaga Holdings Bhd.

During the period in review, the SPV also pared down its shareholding in YLI Holdings Bhd to 6.38% after disposing of 1.04 million shares or a 1% stake in the pipe manufacturer.

And on May 13, it reduced its shareholding further to 5.41% after selling off an additional one million shares.

Synamatix Sdn Bhd ceased to be a substantial shareholder of Malaysian Genomics Resource Centre Bhd (MGRC) after it disposed of 12 million shares or an 11.59% stake in the company.

An indirect unit of Khazanah Nasional Bhd, Synamatix sold a 28.02% stake in MGRC to Crest Advisory Sdn Bhd, an investment vehicle of Ajiah Arijan, in March.

Categorised as a cash company, MGRC is now left with its sole business of genetic screening services (GSS) under the Dtect brand following the disposal of its core clinical pathology services business MPath Sdn Bhd to Gribbles Pathology (M) Sdn Bhd last November, for RM42 million cash.

Over at Dynaciate Group Bhd, Credit Suisse (Hong Kong) Ltd emerged as a substantial shareholder after buying 27.82 million shares or a 5.19% stake from Credit Suisse Group AG.

Previously known as Tatt Giap Group Bhd, Dynaciate’s business segments include the manufacturing of steel products for engineering and the construction of plants and facilities for the oil and gas and refining, chemical and chemical product, oleochemical as well as pharmaceutical and food processing industries.

Notable movements

The share price of Kossan Rubber Industries Bhd jumped 31.28% between May 11 and 15. Exchange filings show that the EPF took profit by disposing of 7.53 million shares or a 0.6% stake, paring its shareholding to 67.62 million shares or 5.29% of the company.

Strong market interest in glove counters amid the Covid-19 pandemic outbreak has caused ­Kossan’s share price to spike 85.1% year to date.

Managing director and CEO Tan Sri Lim Kuang Sia and his family own 50% of the company.

Another glove player, HLT Global Bhd, has also enjoyed strong investor interest as its share price gained 61.67% to 48.5 sen on May 15 from 30 sen on May 8. According to a May 12 filing with Bursa Malaysia, its Taiwan-based major shareholder Suntel International Co Ltd sold 7.6 million shares or a 1.48% stake in the glove dipping-line manufacturer.

Following the disposal, Suntel’s shareholding in the company was reduced to 10.83%.

Last month, the company said its wholly-owned unit HL Advance Technologies (M) Sdn Bhd had entered into a distributor agreement with Accobiotech Sdn Bhd for the distribution of Covid-19 rapid test kits around the world for an initial period of one year starting from April 20, 2020.

Save by subscribing to us for your print and/or digital copy.

P/S: The Edge is also available on Apple's AppStore and Androids' Google Play.