This article first appeared in Capital, The Edge Malaysia Weekly on January 13, 2025 - January 19, 2025

From Dec 30, 2024, to Jan 3, notable filings on shareholding changes at Bursa Malaysia-listed companies include those at Berjaya Corp Bhd (KL:BJCORP) which saw Kossan Holdings Sdn Bhd cease being a substantial shareholder of the consumer conglomerate.

Kossan Holdings, the investment vehicle of Kossan Rubber Industries Bhd’s founding Lim family, disposed of 100 million shares in BCorp on Dec 27, bourse filings show. This leaves it with a 3.37% stake or 196.8 million shares in BCorp compared with 5.08% before.

Kossan Holdings is controlled by Tan Sri Lim Kuang Sia and directors, including his three siblings Lim Kuang Wang, Lim Kuang Yong and Lim Leng Bung.

BCorp’s share price closed at 30 sen at the time of writing on Jan 8, down 7.7% from three months earlier, giving the company a market value of RM1.75 billion.

Sunway Bhd (KL:SUNWAY) founder and executive chairman Tan Sri Jeffrey Cheah disposed of 31 million of the conglomerate’s shares to Jef-San Enterprise Sdn Bhd via a direct business transaction on Dec 27 at RM4.50 apiece. The shares closed at RM4.77 on the open market that day for a market value of RM29.47 billion.

Jef-San, the second largest shareholder, now holds 10.15% equity interest or 627.09 million shares in Sunway. The former’s shareholders are Cheah, his daughter Sarena Cheah and his sons Evan Cheah and Adrian Cheah.

Bursa filings show that Cheah has sold a total of about 571.4 million of his shares in Sunway to Jef-San since last month, all at RM4.50 each, for a total of RM2.57 billion. Cheah remains the largest shareholder in Sunway, with a 0.56% direct stake and an indirect stake of 58.84%.

HIL Industries Bhd’s (KL:HIL) second largest shareholder, Fame Alliance Sdn Bhd, disposed of 7.63 million shares in an off-market transaction on Dec 24. This trims Fame Alliance’s equity interest in the moulded plastic products maker and property developer to 7.75% or 25.74 million shares.

HIL’s executive chairman Tan Sri Ng Boon Thong has an indirect interest in Fame Alliance as well as in Dalta Industries Sdn Bhd, which is HIL’s largest shareholder with a 50.28% stake.

HIL reported a higher net profit of RM32.21 million for the nine months of the financial year ending Dec 31, 2024 (9MFY2024) compared with RM28.05 million in the corresponding period a year ago. This was on the back of a 13.3% improvement in revenue to RM170.78 million.

Mestron Holdings Bhd (KL:MESTRON) shareholder Datuk Teo Chee Hong acquired six million shares in the steel pole maker on Dec 26 via a direct business transaction. This raises his equity interest in the company to 10.99% or 110 million shares, making him the third largest shareholder.

About two months ago, the Main Market-listed company reported a lower 9MFY2024 net profit of about RM7.2 million compared with RM9.43 million in the same period a year earlier. Revenue was marginally higher at RM106.69 million compared with RM106.14 million previously.

Malakoff Corp Bhd (KL:MALAKOF), whose share price has been on the rise since mid-December, saw the Employees Provident Fund (EPF) accumulate a total of about 3.1 million shares in the independent power and water producer on Dec 24, 26, 27 and 30. This raises the EPF’s stake in the company to 11.37% or 555.86 million shares.

Separately, Kumpulan Wang Persaraan (Diperbadankan) disposed of two million Malakoff Corp shares on Dec 30, reducing its equity interest to 9.02% or 440.94 million shares.

Malakoff Corp’s share price has gained 19.7% since Dec 16 to close at 91 sen on Jan 8, giving the company a market value of RM4.45 billion. Its 9MFY2024 net profit stood at RM190.99 million, a sharp turnaround from a loss of RM527.24 million in the same period a year earlier.

The company recently redesignated its executive vice-chairman Tan Sri Che Khalib Mohamad Noh to the role of non-independent non-executive chairman, effective January 2025. Che Khalib, currently the group managing director of MMC Corp Bhd, replaced Tan Sri Dr Ahmad Tajuddin Ali who stepped down after a three-year term.

Velocity Capital Partner Bhd’s (KL:VELOCITY) share price shot up sharply this year on stronger-than-usual volumes on the emergence of a new major shareholder. The share price has doubled to eight sen as at Jan 8 from Dec 30, 2024, giving the company a market value of RM110.5 million.

Datuk Fam Chee Way is now the single largest shareholder of the Main Market company after his vehicle DB Atlantic Capital (M) Sdn Bhd acquired a 28.79% stake (or 397.67 million shares) on Jan 2. He acquired all of Datuk Liu Han Ming’s 229.5 million shares and executive director Tan Yip Jiun’s 168.17 million shares via a direct business transaction. Liu previously held 16.61% equity interest and was the largest shareholder.

Velocity Capital, formerly known as CSH Alliance Bhd, described Fam as an “experienced entrepreneur and business consultant with a career spanning various industries”. The Main Market firm is in the business of haulage logistics, ceramic wares and moneylending, among others.

For its first quarter ended Sept 30, 2024, it reported a net loss of RM1.48 million compared with a net profit of RM1.14 million in the same quarter a year earlier, dragged down by its loss-making ceramic and logistics divisions.

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