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Notable filings

From April 24 to 30, among the more notable changes in shareholding were those that occurred at Takaso Resources Bhd.

Privately-held OCR Land Holdings Sdn Bhd raised its holding in Takaso (fundamental: 1.65; valuation: 0.3), mopping up an additional 7.5 million shares or a 3.7% stake at 50 sen apiece.

With this acquisition, OCR now holds 35.7 million shares or almost 17.5% of the condom and baby products manufacturer. Meanwhile, Ong Kah Hoe, who holds a 35% stake in OCR, has 56.4 million shares or a 27.6% stake,held both directly and indirectly, in Takaso.

OCR was previously known as Ong Chong Realty Sdn Bhd, which developed Casa Utama Townhouses and Beverly Residence in BU11, Bandar Utama, and Eastwood Terrace in Petaling Jaya.

Takaso’s stock hit a 52-week high of 74 sen at end-January, closing at 50 sen last Wednesday.

During the period in review, tour operator Reliance Pacific Bhd (fundamental: 0.55; valuation: 0.9) saw major shareholder Reliance Holdings Sdn Bhd disposing of two million shares, reducing its holding to 317.2 million shares or a 36.9% stake.

The two million shares were sold at 38 sen apiece, which was the price the counter closed at last Wednesday.

Reliance Holdings is the vehicle of Datuk Gan Eng Kwong and Datin Irene Tan.

The Reliance Pacific board has seen several changes, including the resignation of Gan and the appointment of Tan Sri Samsudin Hitam, a former Treasury secretary-general and current Maju Expressway Sdn Bhd CEO.

At property developer TA Global Bhd, Datuk Tony Tiah Thee Kian acquired 2.3 million shares. He started buying TA Global shares in early April and has a direct stake of 640.1 million shares or slightly more than 12% equity interest. Tiah’s flagship stockbroking company, TA Enterprise Bhd, holds 63.1% of TA Global.

TA Global (fundamental: 1.2; valuation: 2) ended trading at 32 sen last Wednesday, not much higher than its 52-week low of 28 sen in mid-December.

Over at plastic moulding firm Ge-Shen Corp Bhd, privately-held Ge-Shen Resources Sdn Bhd sold 11 million shares or a 14.3% stake to Pelita Niagamas Sdn Bhd, the vehicle of Chan Choong Kong. The sale leaves Ge-Shen Resources with 22.3 million shares or 29% of Ge-Shen Corp (fundamental: 2.2; valuation: 1.1).

Since mid-March, Ge-Shen Corp’s stock has gained 39%. It closed at 69.5 sen last Wednesday.

Notable movements

Eden Inc Bhd’s shares have gained 31% since late-March, closing at 29.5 sen last Wednesday. Trading volume has also picked up, with several new substantial shareholders emerging in the restaurant operator.

They include Paramasivam Seerangam, who has 30 million shares or a 9.6% stake in Eden (fundamental: 0.35; valuation: 0.9). The present shareholders include Tan Sri Abd Rahim Mohamad and Datuk Fakhri Yassin Mahiaddin, who collectively hold a 35.8% stake. Paramasivam first surfaced in Eden early last month. During the period in review, he sold 5.5 million shares or a 1.8% stake, trimming his holding to 20 million shares or 6.4%.

Eden’s stock hit a 52-week low of 22 sen on March 5.

Meanwhile, the stock of fibre-optic company Opcom Holdings Bhd hit a high of RM1.34 early last month, buoyed by heavy trading volume.

That excitement at Opcom (fundamental: 2.2; valuation: 1.1) followed the appointment of Tan Sri Mokhzani Mahathir as CEO on March 20.

Mokhzani’s brother Datuk Seri Mukhriz Mahathir — the menteri besar of Kedah — is a substantial shareholder of Opcom with a 23.5% stake.

Much the trading in Opcom shares was done by Rezeki Tegas Sdn Bhd, the vehicle of Ailida Baharum, which has been trimming its stake.

In early April, Rezeki Tegas had a 19.5% stake in Opcom, but is now left with 21.3 million shares or 13.2%.

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Note: The Edge Research’s fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations. Visit www.theedgemarkets.com for more details on a company’s financial dashboard.

This article first appeared in Capital, The Edge Malaysia Weekly, on May 11 - 17, 2015.

 

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