KUALA LUMPUR (April 28): A few interesting names have just popped up in the latest top 30 largest shareholders’ list of Main Market-listed stockbroking firm Apex Equity Holdings Bhd.

They are Hextar Group boss Datuk Eddie Ong Choo Meng, KIP Real Estate Investment Trust (KIP REIT) co-founder Datuk Eric Ong Kook Liong, and Sanichi Technology Bhd founder Datuk Seri Dr Jacky Pang Chow Huat, who have surfaced as new shareholders, albeit not substantial ones, of Apex Equity.

According to Apex Equity’s Annual Report 2022, which was published Friday (April 28) on Bursa Malaysia, Choo Meng owned 6.4 million shares or a 3.16% stake in the company as at March 31.

His father Datuk Ong Soon Ho, who started the family's agrochemicals business under Hextar Group in Klang, Selangor, also owned two blocks of shares or a 1.66% stake in Apex Equity.

The first block of 0.99% stake comprising two million shares was held under Soon Ho’s pledged securities account with HLB Nominees (Tempatan) Sdn Bhd, while the second block of 0.67% stake or 1.35 million shares was held under his pledged securities account with Maybank Nominees (Tempatan) Sdn Bhd.

Choo Meng’s sister, Michelle Ong Tzu Chuen, also owned 2.69 million shares or a 1.33% stake in Apex Equity.

Collectively, Hextar Group's Ong family held at least 6.15% stake in the financial services firm as at end March.

At the same time, KIP REIT’s Kook Liong, in his personal capacity, also owned 3.476 million shares or a 1.72% stake in Apex Equity.

It is worth noting that Hextar Rubber Sdn Bhd, jointly-controlled by Choo Meng and Tzu Chuen, is the single largest shareholder of KIP REIT with a 20.87% stake.

Two other Apex Equity shareholders who are linked to Hextar are Lo Ngen Loi and Chen Sen Loon.

Lo is the managing director of Hextar Global Bhd's agriculture division. He owned 1.5 million shares or a 0.74% stake in Apex Equity. So did Chen, who is Lo's colleague as executive director under the same division at Hextar Global.

Interestingly, Sanichi’s Pang owned 1.63 million shares or a 0.81% stake in Apex Equity. He just ceased to be a substantial shareholder of Computer Forms (M) Bhd on March 28.

PDZ Holdings Bhd executive director Ho Jien Shiung also owned five million shares or a 2.47% stake in Apex Equity, while PDZ substantial shareholder Florence Wong Wei Wei owned 3.6 million shares or 1.78%.

Sanichi is the single largest shareholder of PDZ with a 13.42% stake, followed by Wong, who has a 9.87% stake.

Another notable name on Apex Equity’s shareholders list is Proven Venture Capital PLT.

The firm, which is jointly owned by more than 100 limited partners comprising high-net-worth entities and individuals, has 8.46 million shares or a 4.17% stake in Apex Equity.

In February, Proven Venture Capital surfaced as a substantial shareholder of BTM Resources Bhd with a 14% stake.

The firm owns a 5% stake in Local Assembly Sdn Bhd, a little-known Johor-based electronic manufacturing services (EMS) provider that is in the midst of a reverse takeover of LTKM Bhd.

It should be noted that despite appearing on Apex Equity's top 30 shareholders’ list, none of these names was a substantial shareholder.

As at end March, Apex Equity only has three substantial shareholders, namely Fun Sheung Development Ltd (15.78%), Concrete Parade Sdn Bhd (8.68%) and Yenson Investments Ltd (5.18%).

Fun Sheung Development and Yenson Investments are reportedly linked to the late Lim Siew Kim — daughter of the late patriarch of the Genting Group, Tan Sri Lim Goh Tong — who married Dick Chan Teik Huat.

Teik Huat is the late elder brother of Apex Equity's late founder, Chan Guan Seng.

Concrete Parade is controlled by Lim Beng Guan, the co-founder of corporate finance firm ZJ Advisory Sdn Bhd.

In mid-December last year, ACE Credit (M) Sdn Bhd, a part of the ACE Group, had disposed of the bulk of its stake in Apex Equity, days after the Securities Commission Malaysia (SC) went to court to block ACE from taking control of Apex Equity.

ACE had on Dec 9 ceased to be a substantial shareholder in Apex Equity after disposing of 27.03 million shares, representing a 13.34% stake, in the open market on Dec 9.

ACE was previously the second largest shareholder in Apex Equity with a 14.98% stake.

On Dec 1, Apex Equity announced that the SC had filed a lawsuit in the High Court, seeking a court declaration that Apex Equity's subsidiary, Apex Securities Sdn Bhd, had contravened securities laws, and that ACE had been knowingly involved in the contravention.

The regulator claimed Apex Securities contravened the securities laws “as ACE has become a controller of Apex Securities, when ACE is not a fit and proper person” to do so.

At the time, the SC also sought an order to refrain ACE From being a controller of not just Apex Securities, but also any capital markets services licence holder.

Following ACE's divestment of shares, a big block of Apex Equity shares was made available in the market.

The new and notable Apex Equity shareholders, namely the Hextar family members and their business associates, Pang and his associates, as well as Proven Venture Capital, controlled a total of 18.58% of Apex Equity as at end March.