Notable filings

BETWEEN Feb 6 and 10, companies listed on Bursa Malaysia that saw notable shareholding changes included Berjaya Food Bhd (BFood), which operates chicken-based restaurant chain Kenny Rogers Roasters, gourmet coffee chain Starbucks and soy-related beverage producer Jollibean.

A Feb 8 filing shows that Norwegian central bank, Norges Bank, ceased to be a substantial shareholder in BFood after divesting one million shares or a 0.3% stake on Feb 3. Norges Bank, which had emerged as a substantial shareholder in BFood in April last year, still owns 17.68 million shares or a 4.7% stake in the food and beverage operator after the disposal.

It is worth noting that UBS AG London, the British branch of Swiss global financial services firm UBS Group AG, also ceased to be a substantial shareholder in BFood after selling seven million shares on Jan 27. At its closing price of RM1.75 last Wednesday, BFood was 18 sen or 11.46% higher year to date.

Over at Tiger Synergy Bhd, executive chairman Datuk Tan Wei Lian continued to pare his holding, selling 15 million shares or a 1.1% stake on Feb 6 at four sen apiece. This was also the stock’s closing price on that day. Tan still owns about 304.5 million shares or 21.9% equity interest — of which 17.39% is held directly — in the Seremban-based property developer and wood-based product manufacturer.

Tan’s disposal reduced the deemed interest of his wife Datin Sek Chian Nee and sister Lee Chin. They still hold direct stakes of 2.36% and 2.16% respectively. Lee Chin is Tiger Synergy’s managing director.

Meanwhile, the Estate of Tan Tjeng Hok @ Lam Hak Ming ceased to be a substantial shareholder in Timberwell Bhd after distributing nine million shares or a 10.1% stake to the beneficiaries on Feb 3. Following the distribution, four individuals — Lam Teong Sui, Lam Man Kai, Lam Soei Lang and Lam Soei Lim — emerged as substantial shareholders in the company.

Timberwell holds a timber concession measuring 71,293ha of natural forest in the Lingkabau Forest Reserve in the forest district of Kota Marudu, Sabah. The company has been granted permission to plant, rehabilitate and harvest timber logs within the licensed area for 100 years commencing from 1997.

Notable movements

Kelington Group Bhd’s share price closed at a two-year high of 40.5 sen last Tuesday — 32.8% up from its closing price of 30.5 sen on Jan 31. The stock reached 41.5 sen intra-day on Feb 13.

Filings with Bursa show that Lembaga Tabung Angkatan Tentera (LTAT) ceased to be a substantial shareholder in the company on Feb 2 after offloading more than 2.55 million shares or a 1.1% stake between Jan 31 and Feb 2.

The Armed Forces Fund Board disposed of 558,600 shares on Jan 31 before selling another two million on Feb 2. The identity of the buyers and the transaction prices were not known at press time. Kelington, which makes ultra-high purity gas and chemical delivery systems, paid RM303,121.65 on Feb 6 for 49% of HITI Engineering (M) Sdn Bhd. The latter trades, designs and builds clean room and high technology plants. The acquisition had no material impact on its earnings per share this year,  according to an annoucement by Kelington.

Another notable mover during the period under review was palm oil milling machinery and solutions seller Dolphin International Bhd, whose share price hit a 52-week low of 36 sen intra-day last Wednesday. At its closing price of 36.5 sen on that day, the stock was down 54% from its 52-week high of 79.5 sen recorded on March 14 last year. The company’s market capitalisation stood at RM81 million.

According to filings with Bursa, group managing director Low Teck Yin and executive director Hoh Yeong Cherng sold a total of 14.18 million shares or a 6.38% stake in the company between Feb 6 and 8.

These shares were transacted at between 37.7 sen and 39.5 sen,  compared to a surge of 37 sen to 40.5 sen on the open market.  

Low still owns about 56.63 million shares or a 25.51% stake in the company while Hoh has 57.29 million shares or a 25.81% stake.

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