Thursday 28 Mar 2024
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This article first appeared in Capital, The Edge Malaysia Weekly on October 4, 2021 - October 10, 2021

Notable filings

FROM Sept 20 to 24, notable shareholding changes at Bursa Malaysia-listed companies included those at Sarawak Consolidated Industries Bhd (SCIB), in which Sarawak Economic Development Corporation ceased to be a substantial shareholder after the allotment of 526.04 million new shares via a private placement exercise.

The integrated civil construction service provider has been in fundraising mode to support its upcoming projects. Recently, it clinched an engineering, procurement, construction and commissioning contract worth RM16.28 million from Satria Kasturi (M) Sdn Bhd.

For the three months ended March 31, SCIB posted a net profit of RM12.2 million on the back of RM175.28 million in revenue.

Kumpulan Wang Persaraan (Diperbadankan) cut its stake in Bermaz Auto Bhd to below 5% on Sept 17, following its disposal of 10,000 shares on the open market. As a result, the fund ceased to be a substantial shareholder of Bermaz Auto, in which the Employees Provident Fund (EPF) remains the single-largest shareholder, with 19.57% equity interest.

Bermaz Auto’s net profit increased 11.1% to RM10.27 million for the first quarter ended July 31 from RM9.25 million in the same quarter a year ago, attributed to the lower share of loss from one of its associated companies, Mazda Malaysia Sdn Bhd, as well as higher profit contribution from its domestic operations that came on the back of the group’s cost-saving measures.

Travel mogul Datuk Seri Lee Ee Hoe, co-founder of travel agency Apple Vacations & Conventions Sdn Bhd, continued to pare his stake in Yong Tai Bhd on Sept 17 and 20 to a mere 2.42%. He had a holding of above 7% back in 2018.

Yong Tai, which is partnering China-based Shenzhen Kangtai Biological Products Co Ltd (SZKT) to supply Chinese-produced Covid-19 vaccine in Malaysia, reported a narrower net loss of RM8.31 million from RM47.05 million the year before.

In June, the company announced that the National Pharmaceutical Regulatory Agency had approved its clinical trial import licence for the importation of SZKT’s trial vaccines from China.

Notable movements

Heightened fluctuation in Emico Holdings Bhd’s share price was accompanied by swift shareholding changes in the manufacturer of awards and trophy components.

On Sept 15, Kington Tong Kum Loong emerged as a substantial shareholder after acquiring 15 million shares, or an 8.89% stake, on the open market.

Less than a week later on Sept 21, however, he sold his entire stake in the company. Bursa had yet to be informed of the details of the buyer(s) at the time of writing.

Emico’s share price shot up to an intraday high of 74 sen on Sept 20 — from 52.5 sen on Sept 15 — but slipped the following day to 45.5 sen.

Tong also ceased to be a substantial shareholder of Kejuruteraan Asastera Bhd on Aug 9 after trimming his stake to slightly below 5%.

Emico recently raised RM1.79 million from the final tranche of its private placement exercise involving 4.6 million new shares issued at 39 sen each.

For the financial year ended March 31, 2021, it incurred a net loss of RM2.38 million against a net profit of RM244,000 the year before, owing to lower sales of trophy and gift products.

Over at VS Industry Bhd, the EPF emerged as a substantial shareholder after raising its equity interest in the electrical and electronic products contract manufacturer to 5.26% from 4.913%.

From RM1.49 on Sept 17, its share price has inched up 16.1% to a high of RM1.73 on Sept 27.

VS Industry ended on a higher note in the financial year ended July 31, 2021, as net profit doubled to RM245.34 million from RM116.48 million a year ago, underpinned by a favourable product sales mix in Malaysia, which stemmed from a more diversified clientele, turnaround in performance in Indonesia and much narrower losses incurred in China.

 

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