Saturday 04 Jan 2025
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This article first appeared in Capital, The Edge Malaysia Weekly on December 12, 2022 - December 18, 2022

Notable filings

For the week of Nov 29 to Dec 2, among the notable shareholding changes at Bursa Malaysia-listed companies were that at semiconductor player Malaysian Pacific Industries Bhd (MPI), which saw the Employees Provident Fund (EPF) ceasing to be its substantial shareholder after selling 188,600 shares during the period.

The EPF surfaced as a substantial shareholder in MPI on Oct 18 with 10.08 million shares, or 5.07% equity interest. The fund was last a substantial shareholder in MPI in September 2020, for a matter of days.

Since end-October this year, MPI’s stock has gained more than 24% to close at RM30 last Wednesday, translating into a market capitalisation of RM6.19 billion.

As part of the Hong Leong group, MPI is 58.42% controlled by billionaire businessman Tan Sri Quek Leng Chan.

Meanwhile, Shapadu Capital Sdn Bhd — the vehicle of the late Datuk Shahrani Abdullah’s family — acquired 983,700 shares in property developer Glomac Bhd, increasing its shareholding to 82.51 million or 10.75% equity interest.

Shapadu Capital first emerged as a substantial shareholder in Glomac in early June this year after purchasing 80.06 million shares or a 10.42% stake from Minister of Finance Inc’s Urusharta Jamaah Sdn Bhd. Since then, it has been nibbling Glomac’s shares.

Closing at 32 sen last Wednesday, with a market capitalisation of RM252.15 million, Glomac’s share price has gained more than 20% since mid-October.

Shapadu Capital, which has interests in property development, hotels and oil and gas, is the third-largest shareholder in Glomac after Tan Sri Mohamed Mansor Fateh Din and his family (40.13%) and Datuk Richard Fong Loong Tuck (17.04%).

Elsewhere, T7 Global Bhd executive chairman Datuk Seri Nik Norzrul Thani Hassan Thani — via private vehicle Abyssina Resources Sdn Bhd — raised his shareholding to 7.45% following the acquisition of 6.02 million shares in the company, which has interests in oil and gas, aerospace and construction.

Norzrul is also a lawyer and the chairman and senior partner at Zaid Ibrahim & Co.

Abyssina Resources first surfaced as a substantial shareholder in T7 Global in mid-July with 49.12 million shares or 6.64% equity interest. Its shareholding is just behind the company’s executive deputy chairman Tan Sri Tan Kean Soon’s 19.6% stake.

Since hitting a two-year low of 30 sen in mid-September, T7 Global’s shares gained more than 18% to end at 35 sen last Wednesday, for a market value of RM261.18 million.

Axiata Group Bhd surfaced as a substantial shareholder in Digi.Com Bhd, controlling 3.88 billion shares or a 33.1% stake, after the completion of the Celcom Axiata Bhd-DiGi merger.

Digi’s parent, Norway’s Telenor Group, also has an equal ownership of 33.1% in the newly merged unit.

Since mid-October, the shares of DiGi.Com and Axiata have gained 17% to close at RM3.75 and RM2.97 respectively last Wednesday, giving them market values of RM43.99 billion and RM27.26 billion respectively.

Notable movements

Having gained nearly 8% over the past month,  AMMB Holdings Bhd’s stock hit a 52-week high of RM4.25 last Wednesday.

The EPF took profit by disposing of six million shares in the banking group during the week in review, trimming its stake to 9.92% against 10.92% in mid-September.

In contrast, AMMB has been buying back its own shares, forking out RM1.05 million, or RM4.17 to RM4.20 per share, for the 250,000 shares it acquired. With this, the group now has 2.69 million Treasury shares, or 0.08% of its share base.

After touching its 52-week low of RM5.44 on Oct 12, IHH Healthcare Bhd’s stock has risen nearly 8.5%, closing at RM5.90 last Wednesday.

During this period of volatility, the EPF has been actively trading the healthcare operator’s shares. During the week in review, the pension fund was a net seller, paring its stake to 9.94% after hiving off 7.58 million shares. It had a 9.71% stake at end-September.

 

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