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This article first appeared in Capital, The Edge Malaysia Weekly on November 29, 2021 - December 5, 2021

Notable filings

FROM Nov 15 to 19, notable shareholding changes at companies listed on Bursa Malaysia included those at Ancom Bhd, a diversified group controlled by prominent businessman Datuk Dr Siew Ka Wei.

Bursa filings show that Main Market-listed Pacific & Orient Bhd (P&O) — one of the country’s largest general insurers — had divested 8.511 million Ancom shares, or a 3.44% stake, for RM21.32 million on the open market and via a direct business transaction on Nov 16.

It is believed that the buyers of the shares are Siew and Ancom group CEO Lee Cheun Wei, who mopped up 3.81 million shares and 630,000 shares respectively between Nov 10 and Nov 16.

At the time of writing, P&O — controlled by its managing director and CEO Chan Thye Seng — remained as a substantial shareholder of Ancom with 14.937 million shares, or a 6.04% stake.

P&O has been a passive investor in Ancom since the 1997/98 Asian financial crisis, with Chan not being directly involved in the management of the latter.

P&O’s disposal of the shares in Ancom is not entirely surprising as Chan had indicated his intention to unlock value within the group, including its investment in Ancom, in an interview with The Edge in February. “We are open to any opportunities. We are looking to cash out when the time is right. Everything has its price,” he said.

Over at HB Global Ltd, a producer of gourmet convenience foods that is diversifying into the fifth-generation (5G) infrastructure business, Chee Chen Hao ceased to be a substantial shareholder after offloading 30 million shares, or a 3.89% stake, via an off-market transaction on Nov 10.

Filings show that Chee first emerged as a major shareholder of HB Global with a direct stake of 27.06% after subscribing for 208.413 million shares via a private placement on July 9.

He was appointed chief operating officer of HB Global on July 12. The 30-year-old, who was a stockbroker at UOB Kay Hian, also sits on the boards of a few private investment holding companies across Southeast Asia.

Meanwhile, Penang-based Premiergrow Capital Sdn Bhd disposed of six million shares in precision manufacturer and property developer Kobay Technology Bhd via an off-market transaction. It remains a substantial shareholder with 17.817 million shares, or a direct stake of 5.93%.

Lim Gek Shan, the newly appointed executive director of NWP Holdings Bhd, acquired 11.44 million shares, or a direct stake of 2.17%, in the company at 36.28 sen apiece on the open market on Nov 17. She now has 7.11% equity interest in the timber firm. The 45-year-old was appointed to the board of NWP on Nov 10 and is currently deputy general manager of Pembinaan Bintang Baru Sdn Bhd.

Notable movements

BSL Corp Bhd, which received an unusual market activity (UMA) query from Bursa in mid-September, has seen its share price shoot up a staggering 1,358% year to date, closing at RM1.75 last Wednesday. The metal parts manufacturer is now valued at RM343 million.

Filings show that Cita Realiti Sdn Bhd had acquired 1.375 million BSL shares on the open market between Nov 10 and Nov 15. The company now has 15.743 million shares, or an 8.146% stake, in BSL.

Responding to the UMA query, BSL said it is in the midst of negotiations to buy into Singapore-based SD Unify Pte Ltd, which is involved in the manufacturing and repair of semiconductor foundry equipment.

Meanwhile, EG Industries Bhd has seen its share price decline 20% over the past six months, settling at 55 sen last Wednesday, which gave the company a market capitalisation of RM207.4 million.

Penang-based QYH Capital Sdn Bhd acquired 4.21 million shares on Nov 19 on the open market and now holds 27.923 million shares, or a direct stake of 7.7%, in the electronics manufacturing services firm.

 

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