Thursday 28 Mar 2024
By
main news image

This article first appeared in Capital, The Edge Malaysia Weekly on March 19, 2018 - March 25, 2018

Notable filings

 

BETWEEN March 5 and 9, notable shareholding changes in companies listed on Bursa Malaysia included that at Euro Holdings Bhd.

On March 2, Sabah-based businessman Tan Sri Richard Koh Kin Lip emerged as a substantial shareholder in the office furniture manufacturer, along with Chow Dai Ying and Liew Fook Meng, who is one of the founders of local confectioner Cocoaland Holdings Bhd.

According to Euro’s March 7 filing with Bursa, the three acquired 26 million shares or a 9.7% stake via Jingzeng Holdings Sdn Bhd.

The shares were sold by Euro managing director Datuk Seri Choong Yuen Keong @ Tong Yuen Keong for RM8.32 million, or 32 sen apiece. After the disposal, Choong’s holding stands at 30.73 million shares or an 11.5% stake, and he remains the company’s largest shareholder.

Over at flexible packaging material manufacturer Advanced Packaging Technology (M) Bhd, chairman Chee Sam Fatt sold his entire interest in the company — 3.22 million shares or a 16.9% stake — on March 1. On the same day, the 81-year-old resigned from his post, citing personal reasons. Datuk Ismail Ahmad, the 80-year-old former chairman of Bank Muamalat Malaysia Bhd, was appointed acting chairman. Ismail is a non-executive director of Advanced Packaging.

Nada Wangi Sdn Bhd increased its stake in Sungai Petani-based property developer and plastic component manufacturer ACME Holdings Bhd with the purchase of 19.99 million shares or a 9.5% stake on March 1.

The shares were disposed of by Supptech Holdings Sdn Bhd — the private vehicle of ACME chairman Datuk Seri Dr Lee Kuang Shing — ACME executive director Datin Seri Tan Siew Hong, who is Lee’s wife, and Khaw Hooi Huang at 34 sen apiece, or RM6.79 million in total. Supptech remains the largest shareholder of ACME with a 42% stake.

Nada Wangi is the vehicle of ACME executive director Ooi Soon Hong, who was appointed to the board on Dec 8 last year after emerging as a substantial shareholder in the company on Oct 2 with a 20.5% stake. With the acquisition, Ooi controls almost 30% of ACME via his interest in Nada Wangi.

ACE Credit (M) Sdn Bhd, a fully integrated financial service provider that offers products such as mezzanine lending, private placements, project financing and commercial loans, has emerged as a substantial shareholder in AE Multi Holdings Bhd and TechnoDex Bhd.

The company, which is a subsidiary of ACE Holdings Bhd, became a substantial shareholder in Sungai Petani-based AE Multi Holdings — which is involved in the manufacture and sales of printed circuit boards — on March 6 with the acquisition of 46.23 million shares, bringing its holding in the company to 59.39 million shares or a 19.8% stake.

On the same day, it acquired 12.76 million shares or a 2.3% stake in TechnoDex, bringing its holding in the information communications technology solution provider to 10.6%.

The shares were bought from TechnoDex non-executive director Chang Choon Ming at 14 sen apiece, or RM1.79 million in total. Chang, who is reported to be linked to ACE Holdings, is also the chairman of ConnectCounty Holdings Bhd, which manufactures cables, wires and connectors.

 

Notable movements

Building material and ready-mix concrete distributor Chin Hin Group Bhd’s largest shareholder Divine Inventions Sdn Bhd sold 20 million shares or a 3.6% stake in the company on March 1.

Divine Inventions is the vehicle of Chin Hin deputy chairman Datuk Seri Chiau Beng Teik, his wife Datin Seri Wong Mee Leng and their son, Chin Hin managing director Chiau Haw Choon.

Between Feb 23 and March 1, Chin Hin’s share price had appreciated 7% to RM1.07.

Sunny Luck International Ltd sold 17.63 million shares or a 17.2% stake in Industronics Bhd to Singaporean Luk Tung Lam on March 1. After the deal, Luk’s holding in the electronics and system integration company rose to 28.16 million shares or 27.4% equity interest, making him the largest shareholder.

Year to date, Industronics’ share price has risen 13.8%. It closed at 16.5 sen last Tuesday.

 

 

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.

      Print
      Text Size
      Share