Insider Moves: Macpie Bhd, MMAG Holdings Bhd, K-Star Sports Ltd, Sern Kou Resources Bhd, Goodway Integrated Industries Bhd, Chin Hin Group Bhd

This article first appeared in Capital, The Edge Malaysia Weekly, on September 28, 2020 - October 04, 2020.
Insider Moves: Macpie Bhd, MMAG Holdings Bhd, K-Star Sports Ltd, Sern Kou Resources Bhd, Goodway Integrated Industries Bhd, Chin Hin Group Bhd
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Notable filings

BETWEEN Sept 14 and 18, notable shareholding changes filed with Bursa Malaysia included those of Macpie Bhd, where SEG Capital Intelligence Sdn Bhd ceased to be a substantial shareholder after disposing of 86.71 million shares or a 24.54% stake.

SEG Capital, an investment company focusing on the digital mobile technology industry, was founded by Macpie executive director Sean Ng Chee Heng. By virtue of his interest in SEG Capital, Ng also ceased to be a substantial shareholder in Macpie. The shares were sold at 33 sen apiece, amounting to a total consideration of RM28.6 million.

From its Aug 11 close of 13.5 sen, the counter shot up 278% in just over a month, reaching 51 sen on Sept 14. The sharp rise triggered an unusual market activity (UMA) query from Bursa, to which Macpie replied it was unaware of any possible explanation to account for the UMA.

On Sept 7, Ace Solution Investments Ltd emerged as a substantial shareholder in Macpie after it acquired 70 million shares, or a 19.8% stake, from Open Adventure Technologies Sdn Bhd — the vehicle of former Macpie CEO Leong Seng Wui, who has ceased to be a substantial shareholder in the company.

Former professional badminton player Koo Kien Keat was appointed as an executive director of Macpie on Sept 8.

Over at MMAG Holdings Bhd, JR Joint Resources Holdings Sdn Bhd emerged as a substantial shareholder following the acquisition of 200 million shares or a 19.48% stake. JR Joint Resources is the vehicle of Datuk Tengku Omar Tengku Bot. Meanwhile, MMAG chief financial officer Kenny Khow Chuan Wah disposed of 35.9 million MMAG shares, representing a 3.5% stake.

Post-disposal, Khow has 111.18 million shares, or a 10.8% stake, in MMAG.

Last Wednesday, the company announced that it had entered into a heads of agreement with JR Joint Resources for the acquisition of shares in Bestinet Technology Sdn Bhd. Bestinet is the registered owner of the Travellers Advance Health Screening System, an application that allows governments to manage and enforce travel procedures for their country, either for air, sea or land travel.

Tengku Omar and Datuk Seri Aminul Islam Abdul Nor are both directors and shareholders of JR Joint Resources, which wholly owns Bestinet.

Oriented Media Holdings Ltd emerged as a substantial shareholder in China-based sports footwear and apparel company K-Star Sports Ltd after acquiring 90 million shares or a 19.8% stake. Oriented Media is a subsidiary of Lambo Group Bhd, which runs the e-commerce platform LamboPlace.

Meanwhile, Ace Credit (M) Sdn Bhd sold 107 million shares, or a 23.5% stake, in K-Star and ceased to be a shareholder of the company.

K-Star announced the appointment of Koo Kien Yoon as an executive director. Koo is also an executive director of Lambo Group, Vsolar Group Bhd and GPA Holdings Bhd.

Over at furniture manufacturer Sern Kou Resources Bhd, Koh Poh Seng disposed of 26 million shares, or a 10% stake, in the company and ceased to be a substantial shareholder. Sern Kou’s share price has been on an uphill trajectory in the past month, gaining 50% from RM1.42 on Aug 11 to RM2.13 on Sept 18.

Notable movements


On Sept 4, property developer Purcon Capital Sdn Bhd disposed of 11.75 million shares, or a 7.4% stake, in rubber manufacturer Goodway Integrated Industries Bhd and ceased to be a substantial shareholder.

Goodway’s share price has more than tripled in the past month, from 21 sen on Aug 18 to 71 sen on Sept 15.

Similarly, integrated builder Chin Hin Group Bhd saw its share price rise 87% in the past month, from 75 sen on Aug 17 to RM1.40 on Sept 18. Bursa filings on Sept 14 and Sept 17 show that Chin Hin deputy group executive chairman Datuk Seri Chiau Beng Teik acquired 6.93 million shares, or a 1.25% stake, in the company. His direct and indirect interests amount to 385.13 million shares or 69%.  

 

 

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