This article first appeared in Capital, The Edge Malaysia Weekly, on December 28, 2015 - January 4, 2016.    

Notable filings

FROM Dec 7 to 11, notable shareholding changes in companies listed on Bursa Malaysia included that in Green Packet Bhd, which saw its long-time shareholder OSK Technology Ventures Sdn Bhd cease being a substantial shareholder.

According to a Dec 9 filing, Tan Sri Ong Leong Huat’s OSK Technology sold 109.9 million shares — equivalent to a 16% stake — on Dec 4. The Green Packet (fundamental: 0.35; valuation: 0.30) shares were transacted in three direct off-market trades at 30 sen apiece, a 3.4% premium to the day’s close of 29 sen.

Nearly 70% of those shares were likely bought by Green Packet founder Puan Chan Cheong. Filings show that he bought 75.9 million shares at 30 sen apiece on Dec 4, raising his equity interest to 31.69%, of which 11.13% is held directly.

Over at Bertam Alliance Bhd (fundamental: 1.05; valuation: 1.70), Wisma Jutamas Sdn Bhd is no longer a substantial shareholder in the company after selling 14.1 million shares or a 6.8% stake on Dec 4 and 18. Bertam Alliance did not disclose the transaction price, nor is it known who the buyer was.

Stock market data show that 10 million shares changed hands in two direct deals at 56 sen apiece on Dec 4, within the range of 54.5 sen to 58 sen the stock fetched on the open market that day. On Dec 17, 4.1 million shares in the company were transacted in a direct deal at 59 sen apiece and another 2.32 million shares at 60.5 sen apiece, above the 56 sen apiece they fetched on the open market the same day.

NZA Power Services Sdn Bhd ceased being a substantial shareholder of XOX Bhd (fundamental: 1.55; valuation: 0.20) after selling 24 million shares or a 6.7% stake between Dec 2 and 7. XOX, which on Nov 30 was queried for unusual market activity, on Dec 10 denied rumours of having received any takeover bid from Tan Sri Syed Mokhtar Albukhary or his 4G-LTE 2.6GHz spectrum band holder Puncak Semangat Technology Sdn Bhd.

Meanwhile, Tan Sri Vincent Tan ceased being a substantial shareholder in StemLife Bhd after his vehicle, Juara Sejati Sdn Bhd, disposed of 10.8 million shares or a 4.4% stake on Dec 8 on the open market. StemLife (fundamental: 1.95; valuation: 0) closed at 45 sen that day after trading between 44.5 sen and 45 sen.

Notable movements

Having closed at 12 sen on Dec 21, SMTrack Bhd’s shares are up 71.4% from their recent low of 7 sen on Aug 25. In fact, compared with the counter’s 9 sen close on Dec 14, it is up nearly 40% in one week.

It is not clear what stirred interest in the loss-making track and trace solutions provider, but filings show its vice-president Tan Win Sen emerged as a substantial shareholder on Dec 2 with 14.47 million shares or a 5.1% stake. The transaction price is unknown but SMTrack (fundamental: 0; valuation: 1.40) closed at 10.5 sen on Dec 2.

Genetec Technology Bhd, which has seen its share price increase since mid-August, was queried for unusual market activity on Nov 23, for which it had no explanation. The stock has since mid-November jumped over 63% to peak at 31 sen on Dec 3. Closing at 28 sen last Monday, the share price has more than doubled year to date.

The price gains came after Genetec (fundamental: 1.70; valuation: 0.90) reported a massive 675% year-on-year growth in net profit to RM7.7 million for its second half ended Sept 30, while revenue grew 59% to RM92.6 million. The company attributed the impressive growth numbers to higher sales volume and foreign exchange gains.

Its controlling shareholder, KVC Corp Sdn Bhd, took the opportunity to lock in some price gains, selling 17.2 million shares or a 4.9% stake on Dec 7 and 8 at 30.5 sen and 30.1 sen apiece. It, however, remains the largest shareholder in the automated industrial equipment maker with a 13.87% stake.

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