This article first appeared in Capital, The Edge Malaysia Weekly on February 3, 2025 - February 9, 2025

During the week of Jan 20 to 23, among the notable shareholding changes that took place in companies listed on Bursa Malaysia were those at integrated technology solutions provider Radiant Globaltech Bhd (KL:RGTECH), where businessman Un Sze Hau emerged as a substantial shareholder after subscribing for 30.3 million shares or 5.45% equity interest.

To recap, in September last year, Radiant Globaltech acquired an 80% stake in Rymnet Solutions Sdn Bhd from Un for a total consideration of RM52.5 million — RM42.5 million in cash and the remainder via the issue of 30.3 million shares in Radiant Globaltech at 33 sen apiece.

Radiant Globaltech’s largest shareholders are its vice-chairman and senior executive director Yap Ban Foo with a 24.75% stake, senior executive director Yap Sin Sang who has 18.65%, Ng Lee Tieng and Le Thiam Wah who have 15.4% of the company via Global Success Network Sdn Bhd, and Tan Chuan Hock with 9.08% equity interest.

Radiant Globaltech’s shares ended trading at 35.5 sen last Tuesday, translating into a market capitalisation of RM197.2 million.

During the week in review, the Employees Provident Fund (EPF) ceased to be a substantial shareholder of pipe coating and agro engineering services outfit Wasco Bhd (KL:WASCO) after trimming its stake by 1.26 million shares to fall below the 5% threshold required for public disclosure. The provident fund emerged as a substantial shareholder on Dec 23 last year with 39.11 million shares or 5.05% equity interest.

Ministry of Finance-controlled Urusharta Jamaah Sdn Bhd, which emerged as a substantial shareholder in November last year, has also been selling its shares in Wasco. During the week in review, it hived off 464,100 shares to reduce its shareholding to 5.73%.

Wasco’s share price closed at RM1.05 last Tuesday, giving the company a market value of RM813 million.

During the week in review, New York-based investment banking group Morgan Stanley emerged as a substantial shareholder of property player Ecofirst Consolidated Bhd (KL:ECOFIRS) with 61.09 million shares or 5.17% equity interest.

Meanwhile, Ecofirst executive director Datuk Teoh Seng Kian sold 16 million shares to decrease his stake in the company to 67.55 million shares or 5.71%. Ecofirst executive director Chew Hian Tat, who emerged as a substantial shareholder in early May last year with 63.37 million shares or 5.36% equity interest, has been gradually increasing his stake in the company to 101.31 million shares or 9.25%.

Ecofirst shares ended trading at 38 sen last Tuesday, giving the company a market value of RM449.3 million.

During the week in review, Urusharta Jamaah sold 4.5 million shares in security-based ICT solutions provider Datasonic Group Bhd (KL:DSONIC), reducing its shareholding to 239.46 million shares or 8.61%. Earlier in the month, it had 247.16 million shares or an 8.87% stake in Datasonic.

Urusharta Jamaah has been a substantial shareholder of Datasonic since end-2018, when it acquired RM19.9 billion worth of Lembaga Tabung Haji’s underperforming equity holdings and properties as part of a plan to resuscitate the pilgrims’ fund. At the time, it had a 9.2% stake in Datasonic.

Datasonic shares ended trading at 39.5 sen last Tuesday, valuing the company at RM1.1 billion.

Insurer Syarikat Takaful Malaysia Keluarga Bhd (KL:TAKAFUL) saw its share price hit RM3.97 on Dec 20 last year, its highest level since mid-April 2021. The stock had shed almost 9.3% when it closed at RM3.60 last Tuesday, which gave the company a market value of RM3.14 billion.

During this period, Lembaga Tabung Haji snapped up 12.73 million shares, strengthening its shareholding in Syarikat Takaful to 262.84 million shares or 30.14%. The acquisition by the pilgrims’ fund came about as a result of the insurer’s dividend reinvestment plan.

Pension fund Kumpulan Wang Persaraan (Diperbadankan), or KWAP, participated in the dividend reinvestment plan as well, acquiring 2.9 million shares to nudge its shareholding to 59.83 million shares or 6.86% equity interest.

Perak Transit Bhd (KL:PTRANS) — which is involved in the operation of integrated public transport terminals, the provision of public bus services, petrol station operations and telecommunications tower construction — had gained almost 17% since mid-October last year and closed at 79 sen last Tuesday, translating into a market capitalisation of RM880.5 million.

During the period in review, CBS Link Sdn Bhd, the vehicle of the company’s managing director Datuk Seri Cheong Kong Fitt, sold 9.28 million shares to trim its shareholding to 77.12 million shares or 6.95%. Cheong’s direct stake as well as his shareholding via other vehicles amounted to 29.19%.

Other substantial shareholders of Perak Transit include businessman Datuk Eddie Ong Choo Meng of Hextar group of companies, with an 8.02% stake, and Tan Sri Danny Tan Chee Sing, who helms developer Tropicana Corp Bhd (KL:TROP), with 6.18% equity interest. 

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