This article first appeared in Capital, The Edge Malaysia Weekly on October 26, 2026 - November 1, 2026
Notable filings
Between Oct 12 and 16, notable changes in shareholding among companies traded on Bursa Malaysia included those at plantation counter United Malacca Bhd (KL:UMCCA).
The Tee family vehicle, Prosper Trading Sdn Bhd, acquired 28.19 million United Malacca shares, or 13.44% equity interest, from Great Eastern Life Assurance (M) Bhd at RM171.93 million in cash, or RM6.10 per share, triggering a mandatory general offer (MGO) for the remaining 52.34% not controlled by the family and persons acting in concert.
The Tee family is also seeking to compensate shareholders who sold shares between September 2024 and October 2026, after inadvertently triggering the 33.33% MGO threshold on Sept 26, 2024, when their collective stake rose from 32.63% to 33.70%.
Several research houses have recommended that shareholders reject the RM6.10 offer price, saying it is low based on the company’s net asset per share of RM7.45 as at end-July this year, with consensus target prices largely sitting north of RM7.
United Malacca ended trading at RM6.07 last Wednesday, translating into a market capitalisation of RM1.27 billion.
At Zetrix AI Bhd (KL:ZETRIX), managing director and founder Wong Thean Soon ceased to be a substantial shareholder in the e-government services provider after his shareholding fell below the 5% threshold, following the forced sale of 498.03 million shares. Wong controlled 29.25% in Zetrix as recently as early April this year.
The forced selling of Zetrix’s shares started around Aug 26, when they were trading at about 66 sen apiece. Zetrix shares have since shed about 92% of their value, based on the five sen closing price last Wednesday, which gave the company a market capitalisation of RM394.9 million.
Over at Turiya Bhd (KL:TURIYA), Datuk Vijayasundram Jeyabalan surfaced as a substantial shareholder with a 9.09% stake, representing 22.87 million shares, following a private placement at 40 sen per share.
Turiya owns Wisma Chase Perdana in Damansara Heights, Kuala Lumpur, a 12-storey building with a total net lettable area of 245,238 sq ft. Funds raised from the placement are slated to be used for, among others, the upgrading and refurbishment of Wisma Chase Perdana.
Vijayasundram, who is the CEO of lighting and interior contracting company LSP Sdn Bhd, is now the third largest shareholder in Turiya. He trails Bin Zayed (S) Pte Ltd and executive chairman Datuk Seri Shamir Kumar Nandy, who each hold a 28.89% stake.
Turiya closed at 22 sen last Wednesday for a market value of RM55.4 million.
Eastspring Investments Bhd ceased to be a substantial shareholder in digital media group Foodie Media Bhd (KL:FOODIE) after selling 4.61 million shares on Oct 16, which saw its stake fall below the 5% threshold. The fund manager surfaced as a substantial shareholder in early May this year with a 5.04% stake or 44.76 million shares. It then continued to nibble, nudging its shareholding to 5.34% or 47.45 million shares by end-June, before trimming its position in early September.
Listed end-November last year, Foodie Media closed last Wednesday at 27 sen for a market capitalisation of RM239.8 million.
Notable movements
AMMB Holdings Bhd’s (KL:AMBANK) stock has tapered off from its record high of RM7.37 — its Aug 12 closing — shedding almost 16% of its value to close at RM6.20 last Wednesday. At its close last Wednesday, AMMB had a market capitalisation of RM20.53 billion.
The Employees Provident Fund (EPF) has been trimming its stake in AMMB. It sold 30.91 million shares during the week in review, reducing its stake to 619.64 million shares or 18.71%. The EPF had 19.65% or 650.81 million shares in the banking outfit at end-September.
Banking stocks have been hit by rising bond yields, brought about by falling prices of debt paper, which in turn has resulted in paper losses, adversely impacting investment banking revenue as well.
Minister of Finance Inc-controlled Urusharta Jamaah Sdn Bhd sold 14 million shares in power generation and waste management outfit Malakoff Corp Bhd (KL:MALAKOF) on Oct 13 and 14, trimming its shareholding to 267.56 million shares or 5.47%. Urusharta Jamaah previously held 322.93 million shares or a 6.61% stake in Malakoff at end-September.
Since mid-June this year, Malakoff’s stock has shed about 16% of its value to end trading last Wednesday at 75 sen, for a market value of RM3.66 billion.
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