This article first appeared in The Edge Malaysia Weekly on December 6, 2021 - December 12, 2021

From Nov 22 to 26, notable shareholding changes in companies listed on Bursa Malaysia included those at semiconductor outfit Inari Amertron Bhd, in which the Employees Provident Fund (EPF) ceased to be a substantial shareholder after disposing of 6.82 million shares.

In mid-November, Inari Amertron announced a 2.8 sen interim dividend, which goes ex on Dec 9.

Over the past year, the stock has gained more than 55%, closing last Tuesday at RM4.19, which translates into a market capitalisation of RM15.48 billion.

At Fitters Diversified Bhd, managing director Datin Goh Hooi Yin — the spouse of the late Datuk Wong Swee Yee — sold 98.73 million shares as well as 45.42 million shares held under Wong’s name, leaving her with 6.46 million shares or a 1.45% stake in the company.

Goh became managing director in August after the demise of Wong, who was also the founder of the safety equipment manufacturer.

According to Fitters’ FY2020 annual report, Wong and Goh had controlled 32.27% of the company, or 150.93 million shares, as at end-March.

Following the announcement of the sale by Goh, the stock slipped more than 31%, from 51 sen to 35 sen. The counter closed last Tuesday at 37.5 sen, valuing the company at RM180 million.

Businessman Datuk Seri Gan Chow Tee surfaced as a substantial shareholder of hotel and property company Avillion Bhd during the week in review. Gan, who took up the stake via a private placement, sits on the board of YB Ventures Bhd (formerly known as Yi-Lai Bhd) and was recently appointed to the board of Fitters. He is chairman of privately held developer Mirame Land Bhd.

In August, Avillion’s largest shareholder See Ah Sing, who is an associate of former finance minister Tun Daim Zainuddin, sold down his holding from 28.91% to below the 5% threshold for disclosure.

Loss-making Avillion’s share price has been trading below the 20 sen band for more than 2½ years, with the exception of a brief spell in August this year. Nevertheless, its net asset per share, which was pegged at 20.94 sen as at end-September, is likely to be much higher as its assets — including choice land bank in Port Dickson — have not been revalued in many years.

Avillion ended trading last Tuesday at 11.5 sen, giving the company a market value of RM141.66 million.

During the week in review, Datuk Wee Cheng Kwan surfaced as a substantial shareholder in Eden Inc Bhd after purchasing 37.9 million shares, or an 8.25% stake. Some of his shareholding was acquired via a private placement.

Wee is the managing director of the property and construction arm of publicly traded PRG Holdings Bhd.

Eden’s share price closed at 12 sen last Tuesday — its lowest since March 2020. From mid-June this year, the counter has shed more than 30% of its value.

At its close last Tuesday, the food and beverage and energy company had a market capitalisation of RM55.13 million.

On Nov 25, the share price of government-linked Boustead Holdings Bhd hit a 52-week low of 55 sen. The stock has shed more than 27% of its value since end-June.

Pension fund Kumpulan Wang Persaraan (Diperbadankan) has been reducing its stake in Boustead, hiving off eight million shares during the week in review and trimming its holding to 122.18 million shares, or 6.03%.

Its shareholding in Boustead at end-August was 154.12 million shares, or 7.6%.

Boustead’s largest shareholder is armed forces fund Lembaga Tabung Angkatan Tentera, which holds a 59.42% stake in the company.

Boustead has interests in banking and finance, plantations, heavy industries and pharmaceuticals, to name but a few.

EPF has been trading oil and gas counter Yinson Holdings Bhd. It was a net seller during the week in review, trimming its stake by close to 3.8 million shares and leaving it with 155.83 million shares or 14.63%. At end-August, EPF had 186.02 million shares, or 17.47% equity interest, in Yinson.

Since mid-August, the counter has strengthened by 27%, having gained RM1.22. It closed at RM5.68 last Tuesday, valuing the company at RM6.25 billion.

In mid-November, Yinson announced it had bagged floating production, storage and offloading (FPSO) contracts worth US$5.2 billion (RM21.7 billion) in Brazil.

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.