This article first appeared in Capital, The Edge Malaysia Weekly on September 8, 2025 - September 14, 2025
Notable filings
Over the period of Aug 25 to 28, notable shareholding changes at Bursa Malaysia-listed companies included those at hotel owner and operator Avillion Bhd (KL:AVI).
Low Yi Ngo, the son of Indonesian coal mining billionaire Low Tuck Kwong of PT Bayan Resources Tbk, surfaced as a substantial shareholder of Avillion on Aug 20 after acquiring 132.13 million shares, or 9% equity interest, on the open market. He forked out an estimated RM9.25 million or seven sen a share for the purchase.
The move came about after Bayan Resources chief operating officer Lim Chai Hock became a substantial shareholder with 15% equity interest (or 213 million shares) after taking up a private placement at four sen a share, or RM11.32 million in total, in early July.
Datuk Md Wira Dani Abdul Daim, son of the late former finance minister Tun Daim Zainuddin, holds a 17.5% stake in Avillion; his shareholding was diluted from 21.8% after the private placement. It is worth noting that the two new shareholders, Yi Ngo and Lim, collectively own 24% of Avillion.
Avillion, which has suffered three straight quarters of losses, saw its share price climb to 8.5 sen at the time of writing on Sept 2, its highest since February 2023 and up more than 112% from Aug 1. At its Sept 2 close of eight sen, Avillion had a market capitalisation of RM113.3 million.
Over at electronic-learning provider Eduspec Holdings Bhd (KL:EDUSPEC), privately held Malaya Merchants Sdn Bhd emerged as a substantial shareholder after acquiring 97.45 million shares or a 6.88% stake on Aug 26.
Equally owned by Ho Yu Hang and Ho Chee Poh, Malaya Merchants’ mainstay is advertising, wholesale of a variety of goods, and activities of holding companies, according to a Companies Commission of Malaysia (SSM) search.
At press time, it was not clear from whom Malaya Merchants had acquired the block of shares. According to Eduspec’s latest annual report, as at June 3, its largest shareholder was Datuk Kang Pang Kiang, who held a direct 6.82% stake or 87.33 million shares, and an indirect 6.58% stake or 87.33 million shares.
In July this year, businessman Tan Sri Tee Tiam Lee surfaced as a substantial shareholder in Eduspec after taking up a placement of 111.08 million shares or 7.86% equity interest.
Datuk Gan Chow Tee, an independent and non-executive director at YB Ventures Bhd (KL:YB), has been nibbling at Eduspec’s stock and now holds a 7.66% stake, from 6.69% as at June 3.
Last Tuesday, Eduspec finished at 14 sen, which translated into a market capitalisation of RM198.2 million.
The Employees Provident Fund (EPF) has been actively trading Alliance Bank Malaysia Bhd’s (KL:ABMB) shares and was a net seller of 23.13 million shares during the period in review, trimming its stake to 5.6% or 96.95 million shares. It had held a 9.3% stake (or 143.97 million shares) at end-May.
Alliance Bank’s stock has been trading within the band of RM4.34 to RM4.64 since early April this year. Last Tuesday, the shares closed at RM4.51, valuing the company at RM7.8 billion.
Notable movements
The EPF has been actively trading the shares of construction firm IJM Corp Bhd (KL:IJM) and was a net buyer of the stock during the period in review, acquiring 8.6 million shares for a total shareholding of 18.3% (or 641.36 million shares). In late April, it had held a 15.37% stake (or 538.81 million shares) in IJM.
Other than EPF, Kumpulan Wang Persaraan (Diperbadankan) or Retirement Fund Inc (KWAP) was also a net buyer during that period, accumulating 983,300 shares to nudge its shareholding up to 9.63%. In early May, KWAP had held a 9.96% stake, or 349.05 million shares.
Since closing at a 12-month low of RM1.78 on April 7, IJM’s stock has gained 55% to finish at RM2.75 last Tuesday, giving the company a market value of RM9.67 billion.
From mid-April, rubber glove maker Top Glove Corp Bhd’s (KL:TOPGLOV) shares have shed about a third of their value, closing last Tuesday at 60 sen for a market capitalisation of RM4.81 billion.
KWAP has been trimming its shareholding in the company, selling 5.74 million shares during the period in review, leaving it with a 7.4% stake or 593.18 million shares. In early May, KWAP had held a 7.76% stake or 720 million shares.
Along with a number of other rubber glove manufacturers, Top Glove has been facing margin compression as a result of weak average selling prices and rising costs.
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