This article first appeared in Capital, The Edge Malaysia Weekly, on February 15 - 21, 2016.

Notable filings

BETWEEN Jan 29 and Feb 4, notable changes in shareholding in companies listed on Bursa Malaysia included that at ML Global Bhd, a manufacturer of roof tiles controlled by developer LBS Bina Bhd.

Privately held Distinct Treasures Sdn Bhd ceased to be a substantial shareholder in ML Global after it sold seven million shares to LBS Bina, strengthening the latter’s shareholding in the company.

A few days prior to this block sale, Distinct Treasures hived off 700,000 shares in ML Global and reduced its shareholding to 8.03 million shares or 8.96%. LBS Bina now has 31.95% in ML Global, from 24.14% previously.

Checks on Bloomberg reveal that the seven million shares crossed at 50 sen a share in a single block trade to LBS Bina.

ML Global’s share price hit a 52-week high of 50.5 sen on Feb 4 and has gained about 35% since mid-January this year. The only other substantial shareholder in ML Global now is Datuk Beh Hang Kong.

During the week in review, the Employees Provident Fund (EPF) surfaced as a substantial shareholder with 7.04 million shares or 5.04% in Sasbadi Holdings Bhd.

Sasbadi was listed in July 2014, and its mainstay is the publishing of books and educational materials.

The company’s share price first gained momentum in March last year, and has risen almost 65% since then. It closed at 50 sen last Wednesday.

At special purpose acquisition company (SPAC) Cliq Energy Bhd, Julian Suresh Candiah sold 17.72 million shares or 2.8% in the company, leaving him with some 5.8 million shares.

Announcements to Bursa indicate that he hived off the shares at 69 sen apiece or for RM12.23 million. He is an independent non-executive director of Cliq.

Announcements to the local bourse indicate that Credit Suisse Group AG also ceased to be a substantial shareholder in the SPAC after selling 1.14 million shares on the open market.

Cliq hit a brick wall in its attempt to secure a qualifying asset when the Securities Commission Malaysia deemed its proposal to acquire assets in Kazakhstan to have incomplete information. Cliq’s deadline to obtain the requisite approvals is April 9.

At DKSH Holdings (M) Bhd, armed forces fund Lembaga Tabung Angkatan Tentera (LTAT) ceased to be a substantial shareholder after surfacing with more than 5% only last month.

LTAT has been trading DKSH’s shares for some time now. DKSH, which used to be known as Diethelm Holdings (M) Bhd, came off a 2½-year low of RM3.55, which it hit in mid-September last year. It closed at RM4 last Wednesday.

Aside from LTAT, the other significant shareholder in the company is DKSH Resources (Malaysia) Sdn Bhd, the vehicle of DKSH Group of Switzerland.

Notable movements

Since the end of November last year, TIME dotCom Bhd’s share price has risen more than 10%, hitting a 

record high of RM7.80 at the end of December. It closed last Wednesday at RM7.56.

During the week in review, the EPF, which has been actively trading in TIME dotCom’s shares, surfaced as a substantial shareholder after it acquired 35.67 million shares or 6.20% in the company. The EPF had ceased to be substantial shareholder on Jan 21, after it sold 7.69 million shares.

Kumpulan Wang Persaraan (Diperbadankan) (KWAP) has also been actively trading in the counter. During the week in review, the civil service pension fund acquired 5.28 million shares in TIME dotCom, nudging its shareholding up to 37.68 million shares or 6.55% in the company.

Meanwhile, KWAP has been selling down its shareholding in Tune Protect Group Bhd. During the week in review, KWAP trimmed its stake, selling 2.13 million shares, to 49.83 million or 6.63%.

In early December last year, KWAP held 8.02% or 60.32 million shares in Tune Protect.

Tune Protect’s stock hit a record low of RM1.10 in mid-January this year and ended trading last Wednesday at RM1.18.

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