Insider Moves: GPA Holdings Bhd, Pasukhas Group Bhd, Dataprep Holdings Bhd, Parlo Bhd, Supercomnet Technologies Bhd

This article first appeared in Capital, The Edge Malaysia Weekly, on September 14, 2020 - September 20, 2020.
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Notable filings

FROM Sept 1 to 4, notable shareholding changes took place at several Bursa Malaysia-listed companies, including GPA Holdings Bhd.

Galaxy Coast Ventures Ltd, a substantial shareholder of GPA Holdings, trimmed its holding to 178 million shares or 18.2% after disposing of 99.65 million shares or 10.2% in the automotive battery maker. Galaxy Coast Ventures is registered in the British Virgin Islands.

For the first quarter ended June 30, GPA Holdings registered a net profit of RM69,000, which was 61.66% less than the RM180,000 posted in the previous corresponding period. Revenue increased 28.8% to RM7.6 million from RM5.9 million the year before.

In an Aug 25 filing with the bourse, the company attributed the improved revenue to the rise in local sales volume of automotive batteries. The loss in the automotive battery segment was due to a reversal of a warranty provision of RM200,000 in the corresponding quarter last year.

Revenue in the non-automotive battery segment decreased mainly due to lower exports and local sales. GPA Holdings said the segment’s focus would continue to be on expanding the coverage of sealed lead acid batteries as well as motorcycle batteries.

On Sept 2, Tara Temasek Sdn Bhd — the vehicle of Pasukhas Group Bhd CEO Wan Thean Hoe and non-independent non-executive director Chan Man Chung — disposed of 151.5 million shares or an 18.6% stake in the company. Post-disposal, Tara Temasek retained 50.51 million shares or 6.2% equity interest.

In a separate filing on Sept 4, Ace Solution Investments Ltd emerged as a substantial shareholder of Pasukhas via the acquisition of 138 million shares or a 16.9% stake in the mechanical engineering contractor.

For the second quarter ended June 30 (2QFY2020), Pasukhas sank deeper into the red with a loss of RM1.66 million, from a loss of RM1.2 million in the previous corresponding period. Revenue plummeted 72% to RM2.2 million from RM7.96 million last year, mainly due to a slowdown in activities in ongoing civil engineering and construction services projects. The group’s revenue was derived solely from Malaysia.

Over at Dataprep Holdings Bhd, Widad Business Group Sdn Bhd increased its stake in the management services provider with the acquisition of 30.12 million shares, representing a 6.1% stake. Dataprep is among 25 bidders vying for the government’s National Integrated Immigration System (NIIS) project.

In 2QFY2020, Dataprep recorded a loss of RM1.9 million, an improvement over the RM2.87 million loss posted in the previous corresponding period. Revenue for the quarter fell 27% to RM7.36 million from RM10.1 million the year before.

Notable movements

During the week in review, Parlo Bhd’s share price rose 2 sen, or 12%, to 18 sen to give the company a market capitalisation of RM83.7 million. After disposing of 29 million shares or a 7.9% stake, Thirty Keystone Sdn Bhd remains Parlo’s largest shareholder with 209.5 million shares or 57.66% equity interest in the travel and ticketing agency service provider.


Supercomnet Technologies Bhd’s share price surged 46 sen or 27.9%, from RM1.65 on Aug 3 to a year-to-date high of RM2.11 on Sept 3. This valued the company, which is principally involved in the manufacturing of polyvinyl chloride (PVC) compounds as well as cables and wires for electronic devices and data control switches, at RM1.26 billion.

Separate filings on Sept 4 show that its directors took profit, with a total divestment of 28.9 million shares or a 4.5% stake in the company.

Supercomnet Technologies managing director Shiue Jong-Zone, executive director Wu Huei-Chung and non-independent non-executive director Wu Chung-Jung each sold 6.1 million shares or a 0.95% stake, paring their holding to 19.9%, 12.99% and 10.1% respectively. Meanwhile, executive director Hsueh Chih-Yu divested 6.4 million shares or a 0.99% stake and Lim Eng Chuan, a member of its risk management committee, sold 4.2 million shares or 0.65% shareholding to trim their equity interest in the company to 9.77% and 6.34% respectively.

 

 

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