Notable filings
DURING the week of Oct 4 to 7, among the notable changes in shareholding was that at Taliworks Corp Bhd. Lembaga Tabung Haji (LTH) has been actively trading shares of Taliworks, whose main business is water treatment plants. During the week in review, LTH acquired 11.94 million shares or close to 1% of Taliworks’ share base, nudging the pilgrim fund’s shareholding up to 6.2%.
LTH first surfaced in Taliworks as a substantial shareholder on Aug 19, with 62.35 million shares or 5.15% equity interest. Since end-June, Taliworks’ shares have gained 14 sen or almost 12.5%. Taliworks closed at RM1.53 last Wednesday, for a market capitalisation of RM1.85 billion.
At JCBNext Bhd (formerly known as Jobstreet Corp Bhd), a digital marketing and advertising outfit, Ng Kay Yip ceased to be a substantial shareholder after disposing of 8.58 million shares or 6.13% equity interest. It is not clear who the buyer is.
Ng first surfaced as a substantial shareholder in JCBNext in November 2014 with a 7.14% stake.
JCBNext shares hit a 52-week low of RM1.34 on Sept 27, but have since been inching up. JCBNext ended trading last Wednesday at RM1.60. Another shareholder, Lim Chao Li, ceased to be a substantial shareholder after selling 7.81 million JCBNext shares in late September.
At MNC Wireless Bhd, Tan Mee Hua ceased to be a substantial shareholder after hiving off a little over six million shares or a 6.35% stake during the week in review.
The counter hit its 52-week low of 9.7 sen on Sept 28 and closed at 14.5 sen last Wednesday. Tan first surfaced as a substantial shareholder in MNC in April last year, after buying 6.95 million shares or 7.35% at 32 sen a share.
The Employees Provident Fund (EPF) ceased to be a substantial shareholder in TIME dotCom Bhd after selling 1.84 million shares in the telecommunications provider during the week in review. It is worth noting that TIME dotCom’s shares hit a multiple-year high of RM8.42 in mid-September but tapered off to close at RM7.78 last Wednesday. The EPF surfaced as a substantial shareholder in TIME dotCom at the end of January this year.
Notable movements
Since mid-July, 7-Eleven Malaysia Holdings Bhd’s stock has gained more than 40% and closed at a 52-week high of RM1.91 last Wednesday.
During the week in review, UK-based Genesis Investment Management LLP sold 3.06 million shares in 7-Eleven, reducing its stake to 68.33 million shares or 5.99%.
7-Eleven has been aggressively buying back its own shares on the open market and as at Oct 7, held 97 million shares or 7.87% of the company’s share base. According to filings with Bursa Malaysia, 7-Eleven paid from RM1.79 to RM1.89 apiece for the 9.22 million shares it acquired during the week in review. The company is a unit of Tan Sri Vincent Tan Chee Yioun’s diversified Berjaya group, which has interests in number forecast operations, automobiles, newspapers, coffee outlets, hotels and resorts.
Since end-July, diversified MMC Corp Bhd’s stock has gained as much as 13% or 27 sen as it closed at RM2.32 last Wednesday. MMC hit a 52-week high of RM2.42 on Oct 8.
During this period of strength, LTH disposed of 1.71 million MMC shares, reducing its shareholding to 211.16 million shares or a 6.93% stake in the diversified company. While LTH has bought and sold MMC shares, the pilgrim fund has been a net seller in recent weeks. In early August the company held as many as 222.2 million shares or 7.35% equity interest in MMC.
Its core businesses include power generation, ports and airports, engineering, construction and water treatment. MMC is the flagship of Tan Sri Syed Mokhtar Albukhary.
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.