Insider Moves: Sealink International Bhd, Advanced Packaging Technology (M) Bhd, MNC Wireless Bhd, Velesto Energy Bhd, Inari Amertron Bhd

This article first appeared in Capital, The Edge Malaysia Weekly, on October 28, 2019 - November 03, 2019.
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Notable filings

FROM Oct 14 to 18, notable changes in the shareholding of companies listed on Bursa Malaysia included that at offshore support vessel operator Sealink International Bhd.

The company’s parent, Sealink Holdings Sdn Bhd, sold 150 million shares or a 30% stake to Pengeran Datuk Awang Daud Pengeran Awang Putera, trimming its holding to 21.82% or 109.08 million shares.

Sealink Holdings is the vehicle of businessman Yong Foh Choi, while Awang Daud is a founder of oil and gas outfit Serba Dinamik Holdings Bhd.

Over the past year, Sealink’s share price has gained more than 240%. It closed at 44 sen last Wednesday, translating into a market value of RM220 million. The stock hit a 52-week high of 49.5 sen on Sept 30.

At Advanced Packaging Technology (M) Bhd, British Virgin Islands-based Brilliant Smart International Ltd surfaced as a substantial shareholder after acquiring 1.62 million shares or an 8.46% stake in the packaging company.

Checks on Bursa Malaysia’s website reveals that other than Brilliant Smart International, Pang Chong Yong also emerged as a substantial shareholder, controlling 1.59 million shares or an 8.34% stake.

At about the same time, Singaporean Chee Chin Hung ceased to be a substantial shareholder of Advanced Packaging, having had a 5% stake since end-July 2011.

The counter closed last Wednesday at RM2.20, translating into a market value of RM45.11 million.

Cita Realiti Sdn Bhd hived off 8.03 million shares in MNC Wireless Bhd, trimming its stake to 89.6 million shares or 10.5%.

In contrast, Cita Realiti acquired 2.5 million shares in Sanichi Technology Bhd, increasing its holding to 237.88 million shares or 21.45%.

Other than the aforesaid companies, Cita Realiti has a 13.68% stake in Metronic Global Bhd, which also has an 11.22% stake in MNC Wireless.

Last Wednesday, MNC Wireless closed at a 52-week low of two sen, giving the company a market value of RM20.04 million, while Sanichi closed at 4.5 sen, giving the ailing company a market capitalisation of RM49.9 million.

Lim Yew Hoe, an executive director at oil and gas company Carimin Petroleum Bhd, ceased to be a substantial shareholder after disposing of 2.25 million shares during the period under review.

He first surfaced as a substantial shareholder in July 2017 with a 6.71% stake, but started selling his shares in March this year.

Since March, Carimin’s share price has gained about 75%. It closed last Wednesday at RM1.29, giving the company a market capitalisation of RM301.7 million.


Notable movements

Last Wednesday, Velesto Energy Bhd closed at a 52-week high of 36 sen, translating into a market capitalisation of RM2.92 billion. Year to date, the counter has gained more than 95%.

During the period under review, Amanah Saham Bumiputera sold some 150 million shares in Velesto, trimming its stake to 36.1%, while Velesto’s parent company, Permodalan Nasional Bhd (PNB) — via its Yayasan Pelaburan Bumiputra — strengthened its holding in the company, buying 20 million shares and nudging its stake up to 12.35%.

PNB and its units, such as those under the Amanah Raya banner, control some 62.12% of Velesto. Other substantial shareholders of the oil and gas outfit include the Employees Provident Fund, which has a 6.95% stake. During the period under review, the EPF acquired 5.98 million shares, nudging its holding up to 6.95%.

Inari Amertron Bhd’s share price has gained more than 55% since end-May. At last Wednesday’s close of RM2.06, the company was valued at RM6.55 billion.

During the week under review, the EPF sold 12.83 million Inari Amertron shares, trimming its stake to 219.45 million shares or 6.9%. In early July, the pension fund had 245.33 million shares or a 7.72% stake.


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