Thursday 28 Mar 2024
By
main news image

This article first appeared in Capital, The Edge Malaysia Weekly on July 19, 2021 - July 25, 2021

Notable filings

OVER the week of July 5 to 9, notable changes in shareholding at companies on Bursa Malaysia include that at semiconductor player Unisem (M) Bhd.

Huatian Technology (M) Sdn Bhd, a unit of China-based Tianshui Huatian Technology Co Ltd, sold 12 million shares in Unisem, reducing its stake to 387.18 million shares or 48.41%. According to Unisem’s 2020 annual report, Huatian Technology owned 53.58% or 428.55 million shares in Unisem as at end-February this year.

Since hitting a multi-year high of RM9.18 on Feb 19, Unisem’s stock has tapered off, closing at RM7.65 last Tuesday and giving it a market value of RM6.12 billion.

At Pertama Digital Bhd, Sabri Ab Rahman acquired 15 million shares or 3.46% equity interest in the fintech company and increased his shareholding to 50.86 million shares or 11.74%. Sabri surfaced as a substantial shareholder on June 22 with 25.86 million shares or a 5.97% stake.

Since mid-May, Pertama Digital’s stock has gained more than 44%. At its close of 57 sen last Tuesday, its market capitalisation was RM247.02 million.

Prosper Palm Oil Mill Sdn Bhd acquired 86,500 shares in plantation company United Malacca Bhd, nudging its shareholding to 24.43 million shares or 11.64%. Following the acquisition, the Tee family, which controls Prosper Palm Oil Mill, has a 22.3% shareholding in United Malacca.

The Tee family, via Prosper Trading Sdn Bhd, owns 23.73% in another plantation outfit Far East Holdings Bhd. Far East’s largest shareholder is Perbadanan Kemajuan Pertanian Negeri Pahang, which has 25.18% equity interest.

At its close of RM5.01 last Tuesday, United Malacca had a market value of RM1.07 billion.

During the week in review, the Employees Provident Fund (EPF) sold five million shares in Astro Malaysia Holdings Bhd, trimming its stake to 380.48 million shares or 7.3%. The EPF has been cutting its shareholding in Astro. As at end-May, the pension fund owned 7.72% or 402.77 million shares in the pay television service provider.

From end-January, Astro has gained 37.47% to close at RM1.16 last Tuesday, giving the company a market capitalisation of RM6.05 billion.

Notable movements

Over the past month, the share price of construction giant IJM Corp Bhd has declined 8.2%. At its close of RM1.79 last Tuesday, it had a market value of RM6.52 billion.

Prior to the recent weakness, IJM’s shares hit RM2.01 in mid-April on speculation that it was likely to undertake a corporate exercise involving a merger with Sunway Bhd or Iskandar Waterfront Holdings Sdn Bhd.

Urusharta Jamaah Sdn Bhd sold 3.2 million shares in IJM, trimming its stake to 218.71 million shares or 6.06%. The Ministry of Finance-controlled company has been slowly selling down its shareholding; a year ago, it held 229.84 million IJM shares or a 6.33% stake.

At the same time, pension fund Kumpulan Wang Persaraan (Diperbadankan) or KWAP acquired 1.8 million shares in IJM to nudge its shareholding to 335.69 million shares or 9.31%.

On July 9, Bursa Malaysia Bhd hit a 52-week low of RM7.65. Since end-January, the counter has shed 18.18% or RM1.70. Last Tuesday, the counter closed marginally higher at RM7.70, valuing the company at RM6.19 billion.

The EPF snapped up 1.07 million Bursa shares, increasing its shareholding to 59.7 million shares or 7.38%. Over the past few months, the EPF has been nibbling at Bursa’s shares. At end-March, it had a 5.23% stake, or 42.35 million shares.

Other than the EPF, KWAP has also been buying Bursa shares. It acquired 60,500 shares in the stock exchange operator and now holds 90.65 million shares or 11.2%.

 

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.

      Print
      Text Size
      Share