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

Yew Lee Pacific Group Bhd’s (KL:YEWLEE) largest shareholder Ang Lee Leong sold a total of 78.43 million shares, or 14.67% of the industrial hardware and brush distributor’s share base, via direct business transactions (DBTs) between Feb 14 and 21.

According to Yew Lee’s filings with Bursa Malaysia, Ang disposed of 24.95 million shares, or a 4.6% stake, to Massive Capital Venture Sdn Bhd, a vehicle controlled by Ng Chin Kee, a substantial shareholder of the group, on Feb 14.

The transaction increased Ng’s total equity interest in Yew Lee to 9.84%. Ng had just acquired 28.5 million shares, or 5.25% of the group’s total share base, on Feb 10, presumably also from Ang, as the latter had disposed of 82.01 million shares that day.

Then, on Feb 19, Ang disposed of 53.48 million shares, or almost 10% of the group’s shares, via DBT. On the same day, Jason Koh Jian Hui acquired 37.44 million shares through a DBT, making him a substantial shareholder of Yew Lee, with a 6.9% stake.

Koh is co-founder and managing director of Ecomate Holdings Bhd (KL:ECOMATE).

Following the disposals of shares, which started in early February, Ang’s equity interest in Yew Lee has been pared down to 25.94% from 40.4%.

Meanwhile, on Feb 17, K Seng Seng Corp Bhd (KL:KSSC) announced that Chiaw Haw Yew and Chiau Haw Loon had emerged as its third-largest shareholder after acquiring 10 million shares, or a 5.4% stake, on Feb 14 via DBT.

The Chiau brothers bought the shares through Enrich Signature Sdn Bhd. According to Bloomberg data, the shares were acquired at 83 sen apiece, a 10.7% premium over KSSC’s net tangible asset per share of 75 sen.

The Chiau brothers are sons of Chin Hin Group Bhd (KL:CHINHIN) founder Datuk Seri Chiau Beng Teik.

KSSC, which manufactures a wide range of stainless steel industrial hardware, is diversifying into precision machine parts manufacturing, following the acquisition of 40% equity interest in Metalmach Micro Technology Sdn Bhd for RM14 million.

Elsewhere, LFE Corp Bhd (KL:LFECORP) saw its executive chairman Chuah Chong Ewe raise his stake in the construction and mechanical and electrical engineering outfit during the week under review, to 18.89% from 14.38%.

On Feb 17, Chuah acquired 40 million shares, or 3.61% of LFE’s share base, for RM8 million, or 20 sen each, which was a 9.1% discount to the stock’s closing price that day. He then acquired 10 million shares, or 0.9% equity interest, for RM2 million on Feb 20.

Datasonic Group Bhd, since renamed NexG Bhd (KL:NEXG), saw its share price drop more than 26% in a month, closing at 30 sen last Tuesday (Feb 25), which values the company at RM880.28 million.

NexG’s share price movement over the past one month belies the fact that it had managed to secure an extension of contract for the supply of Malaysian passport chips to the Immigration Department, which is valued at RM104.78 million.

However, its major shareholder Urusharta Jamaah Sdn Bhd (UJ) has been paring down its stake in the security document producer since the start of the year. UJ’s equity interest in NexG stood at 7.39% on Feb 24, versus 8.87% on Jan 10.

Between Feb 18 and 21 alone, UJ had disposed of 11 million shares, or a 0.39% stake.

With a 7.39% stake, UJ’s interest in NexG has fallen behind the 8.34% stake of founder Datuk Abu Hanifah Noordin and his wife, Datin Popi Riandani, as well as Datuk Safian Mohd Yunus’ 13.38%.

Over at Matrix Concept Holdings Bhd (KL:MATRIX), its share price was adjusted on Feb 24 to RM1.47 from RM2.24, following the issuance of 625.67 million bonus shares. On an adjusted basis, the counter lost 4.24% of its value on Feb 24 and 25.

So far this year, Matrix’s share price is down 7.55% from the closing price of RM1.59 on Dec 31, 2024.

On Feb 13, the Employees Provident Fund ceased to be the substantial shareholder of Matrix after disposing of 453,205 shares, which reduced the pension fund’s shares in the property developer to 63.48 million, from 62.94 million on Feb 10. 

Save by subscribing to us for your print and/or digital copy.

P/S: The Edge is also available on Apple's App Store and Android's Google Play.