This article first appeared in Capital, The Edge Malaysia Weekly on September 2, 2024 - September 8, 2024
Notable filings
Between Aug 19 and 23, notable shareholder changes at Bursa Malaysia-listed companies included those at renewable energy services provider Cypark Resources Bhd (KL:CYPARK), which saw businessman Chung Chee Yang upping his stake in the company after acquiring 21.3 million shares through a combination of direct business transactions and buying on the open market.
According to filings with Bursa, 20 million shares were acquired through a direct business deal on Aug 20 while 1.3 million were bought on the open market on Aug 21 and 23. The transacted prices have not been disclosed.
Filings also showed that an individual, Chung Dao, disposed of 20 million shares in Cypark on Aug 23 through a direct business deal. Thereafter, he ceased to be a substantial shareholder of the group.
At the close of Aug 20 and 21, Cypark’s share price stood at 66.5 sen. On Aug 23, the shares closed at 68 sen.
Post-acquisition, Chee Yang’s equity interest in Cypark increased to 70.9 million shares, equivalent to 8.61%, making him the second largest shareholder behind Jakel Capital Sdn Bhd, which has a combined interest of 23.27% in the company.
Over at OCR Group Bhd (KL:OCR), an individual, Tan Chin Hoong, disposed of 50 million shares in an off-market transaction but no price was disclosed. The other party in the transaction has not been disclosed either.
Bursa filings showed that the transaction took place on Aug 15 and left Tan with 222.64 million shares, equivalent to an 11.11% stake in the company.
OCR, which is in the business of property development, has seen its share price fall 52% between July 23 and 31, from 12.5 sen to 6 sen. The shares rebounded on Aug 1 to 7.5 sen but then fell subsequently and remained flat at 5.5 sen during the week in review.
Siab Holdings Bhd (KL:SIAB) saw executive director and shareholder Chu Yee Hong, through MBuild Venture Sdn Bhd, increase his equity interest in the construction company to 21.58% after acquiring 135.86 million shares through a direct business transaction.
Notably, Chu was appointed to the board on July 15. He was the deputy managing director of Taghill Projects Sdn Bhd — a company that Siab acquired.
Siab has proposed a name change to Taghill Holdings Bhd, subject to shareholder approval.
Notable movement
Over at property developer S P Setia Bhd (KL:SPSETIA), its share price has declined a total of 7.46% between Aug 19 and 23 from RM1.34 to RM1.24.
Notably, the decline had started much earlier, specifically after the property developer hit its 52-week intra-day high on July 18 at RM1.80. From the peak of RM1.80 to the last day of the week in review, being Aug 23, the counter has shed a total of 31%.
For the week in review, filings with Bursa showed Pension Fund Incorporated (KWAP) trading SP Setia, selling more shares than it bought, leaving it with a direct shareholding of 352.77 million shares equivalent to 7.26% and indirectly 64.37 million shares or 1.32%.
The property developer, whose major shareholder is government-linked investment company Permodalan Nasional Bhd, said on Aug 27 that it has initiated legal action against its former senior management and a former director of the group over alleged breaches of duties linked to the purchase of lands in Kota Kinabalu, Sabah, and the sale of units under the group’s Aeropod project.
Among the 11 defendants named in the suit included the group’s former deputy president and chief operating officer Datuk Wong Tuck Wai (currently CEO of IJM Land Bhd), its former executive vice-president Datuk Kow Choong Ming, and its former president-cum-CEO and director Datuk Khor Chap Jen.
Meanwhile, Sime Darby Property Bhd’s (KL:SIMEPROP) share price has fallen 7.38% between Aug 14 and 20, from RM1.49 to RM1.38.
Filings with Bursa showed that the Employees Provident Fund Board (EPF) has been a net buyer of shares in Sime Darby Property between Aug 14 and 20, acquiring 24.63 million shares during that period, leaving it with 545.37 million, equivalent to 8.02% as at Aug 20.
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