Notable filings

FROM Oct 17 to 20, one of the more notable changes in shareholding occurred at oil and gas outfit Yinson Holdings Bhd. Tan Sri Mokhzani Mahathir and his vehicle Kencana Capital Sdn Bhd ceased to be substantial shareholders of the company.

Trinity View Sdn Bhd bought 119.71 million shares from Kencana Capital at RM3.07 apiece, or RM367.5 million in total. Trinity View is the investment vehicle of Yeow Kheng Chew, better known as K C Yeow, who is a close associate of Mokhzani.

According to filings with the Companies Commission of Malaysia, Yeow has 30% equity interest in Kencana Capital, while Trinity View is almost wholly owned by him.

Kencana Capital also distributed its shares in Yinson as dividend in specie to its two shareholders. After the share purchase and dividend in specie, Yeow holds a 14.08% stake in Yinson.

The stock closed last Tuesday at RM3.18.

At Genting Plantations Bhd, Kumpulan Wang Persaraan (Diperbadankan) or KWAP ceased to be a substantial shareholder of the company after hiving off half a million shares.

KWAP first surfaced as a substantial shareholder in the plantation company after acquiring one million shares on Aug 1. It later nudged its holding up to 5.03% or 39.82 million shares.

Genting Plantations ended trading last Tuesday at RM10.62.

Meanwhile, Lembaga Tabung Angkatan Tentera (LTAT) has been paring down its stake in Kelington Group Bhd. It sold eight million shares or 3.61% equity interest during the period in review, trimming its holding to 8.44% or 18.67 million shares.

The armed forces fund has been a substantial shareholder in Kelington Group since December 2011 when it took up a private placement of shares and controlled 12.64% of the company.

Kelington Group, which is mainly involved in the designing and fabrication of ultra-high purity gas and chemical delivery systems, closed at 28.5 sen last Tuesday.

Privately held Pembinaan Maju Wangi Sdn Bhd strengthened its hold on Toyo Ink Group Bhd, buying 1.5 million shares and nudging up its holding to 10.15% or 10.86 million shares.

Pembinaan Maju Wangi first surfaced as a substantial shareholder in mid-August this year after acquiring

1.5 million shares at 49 sen apiece, which increased its holding to 5.94% or 6.36 million shares.

A look at Toyo Ink’s annual report revealed that little-known Pembinaan Maju Wangi could be the company’s largest shareholder now. Its other substantial shareholders include Eng Lian Enterprise Sdn Bhd, which has 9.09% equity interest.

Toyo Ink closed last Tuesday at 53 sen.

Notable movements

UOA Development Bhd’s share price has gained more than 22% since end-June. The counter hit a record high of RM2.77 on Oct 21, buoyed by a relatively heavier trading volume. It ended trading last Tuesday at RM2.60.

During this period of strength, the Employees Provident Fund (EPF) has been actively trading UOA’s shares. It ceased to be a substantial shareholder during the period in review after disposing of 1.07 million shares, after having surfaced in the developer with more than 5% equity interest a few days earlier.

However, to put things in perspective, UOA is a cornered stock with the top 30 shareholders controlling close to 92% of the company, according to its annual report for FY2015.

The company is mainly involved in property development, construction, property investment and property management.

The share price of Only World Group Holdings Bhd (OWG) has gained more than 28% since early August. The counter ended trading at RM2.43 last Tuesday.

Much of the trading volume has been the result of the EPF’s buying and selling of its shares. During the period in review, the EPF ceased to be a substantial shareholder in OWG after having surfaced as one only a week earlier.

The company’s core business is the management of resorts, restaurants and amusement parks, among others.

OWG’s largest shareholders are Datuk Seri Koh Cheng Keong and Datuk Seri Chew Lean Hong, who control 59.33% of the company via their vehicle Rich Dad Café Sdn Bhd.

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