FROM May 13 to 17, notable filings included those at MQ Technology Bhd. On May 13, the industrial mould manufacturing company announced that Teh Eng Huat had ceased to be a substantial shareholder after disposing of 3.5 million shares or a 0.55% stake on May 10. It is not known at what price and to whom the shares were sold.
Then, on May 21, MQTech announced that Teh had re-emerged as a substantial shareholder after acquiring 4.5 million shares or a 0.7% stake on the open market on May 17. To date, Teh holds a 5.527% stake in the company.
On May 13, substantial shareholder Heng Yong Kang @ Wang Yong Kang disposed of 18.99 million shares or a 2.96% stake in MQTech on the open market, retaining 11.21% equity interest.
Heng continued to pare down his holding on May 16, disposing of 30 million shares or a 4.67% stake. The disposals left Heng — the second largest shareholder after Gerald Nicholas Tan Eng Hoe, who has a 10.74% stake — with 6.54% equity interest as at May 21.
Over at Bumi Armada Bhd, the Employees Provident Fund (EPF) sold a total of 104.57 million shares or a 1.78% stake in the floating production, storage and offloading vessel provider to the oil and gas industry between May 8 and 13. This reduced its holding to 5.57%.
The counter has been inching up so far this year, reaching 19 sen last Tuesday from 15.5 sen at the start of the year and giving the group a market capitalisation of RM1.12 billion. While this is far off from its five-year peak of RM3.85 per share, the stock had added 22.6% to its value so far this year.
Meanwhile, Prosper Palm Oil Mill Sdn Bhd (PPOM) acquired a total of 2.16 million shares or a 1.03% stake in United Malacca Bhd between May 9 and 13.
As at May 15, PPOM held a 10.38% stake in the oil palm plantation company — both directly and indirectly via Prosper Trading Sdn Bhd. This makes PPOM the second largest shareholder after Oversea-Chinese Banking Corp Ltd, which has a 19.8% stake.
Prosper Trading is also the second largest shareholder of oil palm plantation company Far East Holdings Bhd with a 23.73% stake, behind Perbadanan Kemajuan Pertanian Negeri Pahang that holds 25.18% equity interest.
During the period in review, the share price of Vortex Consolidated Bhd rallied 48.78% to 30.5 sen, giving the IT products retailer and property development company a market capitalisation of RM372 million.
On May 14, Pentagon Parade Sdn Bhd acquired 10.966 million shares or a 0.9% stake in Vortex on the open market, emerging as a substantial shareholder with 7.988% equity interest. Pentagon Parade is the investment vehicle of Goh Eugene, an executive director at Vortex.
Last December, Vortex diversified into property development, with its maiden project being the mixed-use The Louvre @ Country Heights in Kajang worth RM341.81 million. The group is also diversifying into the money-lending business.
Pentamaster Corp Bhd’s share price increased 5.6% to RM4.34 during the period in review, giving the semiconductor and other electrical testing company a market capitalisation of RM1.376 billion.
In the same period, Kumpulan Wang Persaraan (Diperbadankan) sold a total of 1.91 million Pentamaster shares or a 0.6% stake, leaving it with 8.97% equity interest. KWAP is the company’s second largest shareholder after Chuah Choon Bin, who has a 19.64% stake.
In the first quarter ended March 31, 2019, Pentamaster’s net profit jumped 170.7% to RM19.56 million, on the back of a 19.5% increase in revenue to RM118.76 million. Year to date, the counter has rallied 47.5%, closing at RM4.10 last Tuesday.