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This article first appeared in Capital, The Edge Malaysia Weekly, on December 14 - 20, 2015.

 

Notable filings

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Between Nov 30 and Dec 4, notable shareholding changes at Bursa Malaysia-listed companies included that at Hiap Huat Holdings Bhd (fundamental: 0.75; valuation: 0.90), whose co-founder Chan Ban Hin sold 21.39 million shares on the open market at between 9.9 sen and 10.2 sen.

After the disposal, Chan’s holding in the company shrank to direct and indirect stakes of 4.64% and 19.98% respectively. He has been paring his stake over the last few years.

In the third quarter ended Sept 30, the company’s net loss narrowed to RM88,000 from RM211,000 a year ago. This came despite lower revenue of RM5.6 million compared with RM9.2 million a year ago.

Datuk Seri Yeoh Soo Ann ceased to be a shareholder of PRG Holdings Bhd (formerly known as Furniweb Industrial Products Bhd) after selling his entire stake, amounting to 17.57% or 25.45 million shares, in the company. This came after he stepped down as its executive director on Dec 1. Yeoh still holds about 7.9 million warrants in PRG (fundamental: 1.10; valuation: 1.40). Another director, Datuk Lua Choon Hann, acquired 3.72 million shares on the open market, upping his holding in PRG to 15.63 million shares.

Recently, PRG said it was planning to diversify into construction and expected the new division to contribute 25% or more to net profit.

For the cumulative nine months ended Sept 30, PRG’s revenue grew 43.4% to RM89.3 million, driven by higher contribution from the property development division. Net profit totalled RM2.8 million compared with a net loss of RM250,000 a year ago, thanks to better contribution from the manufacturing segment and foreign exchange gains.

Over at The Media Shoppe Bhd, shareholder Master Knowledge Sdn Bhd raised its stake in the company when it acquired 17.79 million shares via off-market transactions during the period under review. Master Knowledge now has a 25.37% stake in the company.

The Media Shoppe (fundamental: 1.65; valuation: 0.90), which is an information technology-based company, recently proposed to branch out into construction. In its quarter ended Sept 30, it sank deeper into the red to RM1.83 million compared with a net loss of RM622,000 a year ago as revenue shrank from RM65.77 million to RM29.62 million.

 

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Notable movements

Wintoni Group Bhd (fundamental:    1.20; valuation: 0.90) saw its share price slide 68.7% to five sen between Nov 25 and Dec 3 after it failed to submit its financial statement for the third quarter ended Sept 30 due to loss of data. During the period under review, the largest shareholder, Yap Kok Weng, exited the company after disposing of his entire 16.1% stake.

The failure to submit its third-quarter results led to the suspension of the company’s shares on Dec 8.

Between Nov 26 and Dec 7, SWS Capital Bhd’s share price surged 79% to RM1.45. During the period, Tan Sri Tan King Tai bought 29.8 million shares in the company, raising his direct stake to 6.64%.

SWS Capital (fundamental: 0.75; valuation: 0.30) received an unusual market activity query from Bursa on Dec 4 following the big jump in its share price. However, it said it had no knowledge of the cause of the sharp rise in the share price.

On Dec 8, the company’s rights issue to raise RM10.08 million for business expansion and working capital ran into a snag after the court granted an injunction against it.

The injunction was obtained by its substantial shareholders Tan and his wife Puan Sri Chan Mei Cheng as well as Tan Hui Ting, Tan Hui Lun and Tan Kean Aik.


Note: The Edge Research’s fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations. Visit www.theedgemarkets.com for more details on a company’s financial dashboard.

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