This article first appeared in Capital, The Edge Malaysia Weekly on July 18, 2022 - July 24, 2022
Notable filings
For the week of July 4 to 8, notable shareholding changes at Bursa Malaysia-listed companies included those at Mercury Industries Bhd, where Tan You Tiong emerged as a substantial shareholder.
Tan had subscribed for 6.05 million shares, or a 9.41% stake, in the company at 81.02 sen apiece for a total of RM4.9 million in a private placement exercise. Following this, his shareholding increased to 9.44%.
Meanwhile, Chong Wei Keong’s equity interest in the group rose to 6.25%, making him the third largest shareholder after managing director Datuk Tiong Kwing Hee and Tan.
For the first quarter ended March 31, Mercury’s net loss widened to RM1.87 million from RM1.4 million in the previous corresponding quarter. The group is involved in the trading of building materials, civil works and building construction, and property development.
At MyNews Holdings Bhd, the Employees Provident Fund (EPF) disposed of 2.511 million shares, or a 10.37% stake, during the week in review. Post-disposal, the provident fund is left with 5.44% equity interest in the convenience store chain. It is still the second largest shareholder of MyNews.
According to a filing with Bursa, executive chairman Ding Lien Bing acquired 100,000 shares in MyNews at 41 sen each, lifting his equity interest to 0.158%.
The group posted its ninth consecutive quarter in the red, with a net loss of RM10.22 million in its second quarter ended April 30, due to additional costs incurred in establishing and promoting the launch of 26 CU stores during the quarter.
Meanwhile, Sarawak Consolidated Industries Bhd (SCIB) managing director and CEO Rosland Othman pared his equity interest in the civil engineering specialist to 0.22% following the divestment of 8.46 million shares, or a 1.45% stake, via a direct deal. His shareholding in the company was about 5.33% a year ago.
In the first nine months of its financial year ended March 31, the group incurred a net loss of RM5.9 million.
Notable movements
The share price of Econpile Holdings Bhd has been on a decline since reaching a peak of 31.5 sen in early May. The counter closed at 17.5 sen last Thursday, having fallen 46.15% year to date.
EPF increased its equity interest in the piling specialist to 8.35% after acquiring 4.06 million shares, or a 0.29% stake, during the week in review. The provident fund is the third largest shareholder in the group.
Econpile fell into the red with a net loss of RM27.4 million for the first nine months of its financial year ended March 31, versus a net profit of RM10.03 million in the previous corresponding period, due to high building material cost and labour shortage.
Apex Equity Holdings Bhd saw a spike in its share price recently, to a high of RM1.17 on June 21 from a low of 87 sen on June 20. While the reason behind the rally is unclear, Concrete Parade Sdn Bhd emerged as the fourth largest shareholder after acquiring 7.58 million shares, or a 3.74%stake, to bring its shareholding to 8.68%.
Lim Beng Guan, co-founder of ZJ Advisory Sdn Bhd, is the majority shareholder of Concrete Parade. In 1Q2022, its net profit tumbled 57.2% to RM2.17 million from RM5.06 million in the previous corresponding quarter due to lower brokerage income as a result of fewer securities transactions.
In March, Apex completed the disposal of its indirect 43% stake in Apex Investment Services Bhd (AISB) to Clement Chew Kuan Hock, Asgari Mohd Fuad Stephens and Raevendren Ramachandran for RM5.18 million, in line with its intention to exit the fund management business.
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