Insider Moves: iDimension Consolidated, YFG, ES Ceramics Technology, Meda Inc and Ni Hsin Resources

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NOTABLE filings

Notable filings of shareholding changes with Bursa Malaysia between Nov 17 and 21 included the emergence of a director of XingHe Holdings Bhd as a substantial shareholder of iDimension Consolidated Bhd.

A Nov 21 filing showed that Stephen Ng Min Lin held a 16% stake in iDimension as at Nov 17, after buying just over 68 million shares at undisclosed prices on the open market. Ng was formerly executive director at Key West Global Telecommunications Bhd, which was taken over by China-based edible oils company Testa Holdings Ltd and renamed XingHe Holdings in April.

Among sellers of iDimension on Nov 17 was Online E-Club Management Sdn Bhd, which ceased to be a substantial shareholder after disposing of 22.667 million shares at 10 sen apiece. Similarly, Ang Beng Leong’s EClub Interactive Sdn Bhd sold 2.33 million shares at 10 sen apiece on Nov 17, and is no longer a substantial shareholder.
On Oct 29, Advance Capital Partners Pte Ltd sold 20 million shares and ceased to be a substantial shareholder of iDimension, which recently diversified into the provision and distribution of broadband content and online games with its acquisition of IDB Group, whose CEO is Ang. Online E-Club and Ng’s 50%-owned Prizeman International Ltd were among the vendors of IDB.

On Nov 18, YFG Bhd non-executive director Lim Choong Yik disposed of 13 million shares or a 2.1% stake at 12 sen apiece in an off-market deal. Ten million of those shares were sold directly by Lim, while his spouse Tan Sock Peng sold another two million shares, and his son Kok Kuan and daughter Yoke Kuan 500,000 shares each, filings showed.

The buyer could be General Technology Sdn Bhd, which bought 13 million shares on the same day and purchased another 500,000 shares on Nov 19, raising its stake in YFG, which was previously known as PJI Holdings Bhd, to 11.66%.

According to a Nov 20 filing, another YFG non-executive director, Ting Keng Fui, paid eight sen apiece for 260,300 shares on Nov 18 and 226,700 shares on Nov 19. He only has about 0.64% equity interest in the company.

Over at ES Ceramics Technology Bhd, a Nov 17 filing showed that Tan Ching Ling ceased to be a substantial shareholder after disposing of 9.19 million shares or a 4.9% stake on Nov 12. On Oct 20, Tan still had a 6.89% stake. ES Ceramics climbed from 15 sen on Oct 15 to 27.5 sen on Nov 5 before closing at 23.5 sen last Wednesday.
Notable movements

Shares of Meda Inc Bhd, which had been declining since March, recently regained investor interest. From a low of 57 sen on Nov 14, the stock gained 16.7% to close at 66.5 sen last Wednesday.

Filings showed the cessation of Tan Kim Seng as a substantial shareholder on Nov 17 after disposing of 12.51 million shares between Oct 15 and Nov 17. Separately, Teoh Seng Aun disposed of 858,000 shares on Nov 14, paring his holding to 14.61% or 70.6 million shares. He is still the largest shareholder, followed by Meda deputy chairman and executive director Teoh Seng Kian.

On Nov 20, Meda said its unit had completed the acquisition of 83,160 sq m of freehold land in Melaka for RM23.2 million.

Closing at 39 sen last Wednesday, the shares of Ni Hsin Resources Bhd have, in less than a month, slipped 25.7% from their high of 52.5 sen on Oct 30. This, however, is still double the 15 sen the stock fetched on average last year.

Pelaburan MARA Bhd emerged as a substantial shareholder of the company on Oct 30, with a 5.2% stake or 12 million shares. Filings also showed Ni Hsin Managing Director Hsiao Chih Chien disposing of 11.83 million shares at 34 sen apiece on Nov 20. That left him with a 4.32% direct stake and 1.08% indirect stake.



This article first appeared in The Edge Malaysia Weekly, on December 1-7, 2014.