This article first appeared in Capital, The Edge Malaysia Weekly on August 4, 2025 - August 10, 2025
Notable filings
Notable filings of shareholding changes in the period between July 21 and 25 included that of the emergence of Salcon Bhd (KL:SALCON) executive deputy chairman Tan Sri Tee Tiam Lee as a substantial shareholder of ACE Market-listed Eduspec Holdings Bhd (KL:EDUSPEC).
Tee had a 7.858% stake or just over 111.08 million shares in Eduspec as at July 24 following a private placement, a filing dated July 25 shows. Tee already had 63.18 million shares or a 4.76% stake as at June 3, 2025, Eduspec’s 2025 annual report shows.
That means, at most, Tee would have only obtained 47.9 million or 64% of the fourth and final tranche of Eduspec’s private placement on July 15 of 74.9 million shares priced at 10.01 sen apiece or RM7.5 million in total.
The third tranche involving 10 million shares was priced at 10 sen each on May 29, the second tranche of 45 million shares was priced at 9.32 sen on Jan 9, while the first tranche of 105 million shares was priced at 9.61 sen on Sept 2, 2024.
A total of RM22.78 million in gross proceeds was raised over four tranches, involving the sale of 234.9 million shares at an average price of about 9.7 sen each. This is 22.4% less than the expected gross proceeds of RM29.36 million from issuing 234.9 million new shares at an illustrative price of 12.5 sen each, the company’s circular to shareholders dated July 31, 2024, shows. Shares of loss-making Eduspec closed at 14 sen on July 30, up 21.7% year to date, giving it a RM197.9 million market capitalisation.
CB Industrial Product Holding Bhd (KL:CBIP) co-founder and managing director Datuk Lim Chai Beng’s private vehicle Zee Capital Sdn Bhd is no longer a substantial shareholder of the oil palm mill equipment and parts maker after selling 35 million shares on July 23 via an off-market married deal at RM1 apiece.
The buyer was likely Lim himself; separate filings show that he had bought 35 million shares at RM1 each on the same day. Remaining CBIP’s largest shareholder, Lim had 192.1 million shares or direct and indirect stakes totalling 41.27% after the transaction on July 23, down 2.9% or 13.5 million shares compared with direct and indirect stakes totalling 44.17% or 205.6 million shares as at March 28 this year, according to CBIP’s 2024 annual report.
CBIP shares closed at RM1.05 on July 30, down 22.8% year to date, to give it a market value of RM488.7 million.
Notable movements
Closing at RM7.49 on July 30 to give it a market capitalisation of RM33.4 billion, MISC Bhd (KL:MISC) shares were down 11 sen or 1.45% year to date. While the shares were up about 15.2% compared with the 52-week intraday low of RM6.50 on April 9, they were still 15.7% below the 52-week intraday high of RM8.89 on July 31, 2024.
The Employees Provident Fund (EPF) may have chosen to accumulate on weakness shares of MISC, which is 51%-controlled by Petroliam Nasional Bhd (Petronas). The EPF, which had 584.7 million shares or a 13.1% stake as at March 5, had increased its holding to 643.78 million shares or a 14.42% stake as at July 24, a latest filing show.
Kumpulan Wang Persaraan (Diperbadankan) or Retirement Fund Inc (KWAP), however, seems to have chosen to lock in some profits. KWAP was no longer a substantial shareholder after it disposed of 2.45 million MISC shares on the open market on June 12, a filing dated July 22 shows. After the disposal on June 12, KWAP likely still had 219.16 million shares or a 4.9% stake — just below the 5% threshold for substantial shareholding, according to recent filings. KWAP had 223.3 million shares or a 5% stake as at March 5, according to MISC’s 2024 annual report.
Oasis Harvest Corp Bhd (KL:OASIS), meanwhile, seems to have shaken off a recent stock exchange reprimand over its terminated 2023 rights issue. The company, formerly known as Dolphin International Bhd, saw its shares surging since mid-June, even before it welcomed Labuan-headquartered European Credit Investment Bank Ltd (ECIB) as a new substantial shareholder on July 18.
Oasis shares were up 5 sen or 29.4% year to date as it closed at 22 sen on July 30 to give it a market capitalisation of RM32.4 million. Measured from the 52-week low of 13 sen on Nov 11, 2024, the stock had gained 84.6% or 11 sen when it closed at 24 sen on July 18.
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