KUALA LUMPUR (Dec 3): Morgan Stanley & Co International plc has ceased to be a substantial shareholder in Cheetah Holdings Bhd (KL:CHEETAH), Focus Dynamics Group Bhd (KL:FOCUS) and NetX Holdings Bhd (KL:NETX) after disposing of shares in the three companies.

All the disposals were done on Dec 1 and reduced the multinational investment bank's UK-based subsidiary's stake in each of the three Malaysian companies to below 5%, according to bourse filings on Wednesday. Under Malaysian law, a substantial shareholder refers to any person or entity holding at least 5% of a listed company’s voting shares.

In Cheetah, Morgan Stanley offloaded 28.50 million shares, representing a 5.86% or its entire stake in the company. While the filing did not state the disposal price, a closing price of 10 sen on the same day would value the stake at roughly RM2.85 million.

Over the past five months, the bank had progressively pared down its holdings in Cheetah from 6% as of October 2023, via about 10 separate transactions.

Shares in Cheetah ended unchanged at 10 sen on Wednesday, valuing the company — a designer and marketer of sports apparel and casual wear under brands such as Cheetah, Cheetah Junior and Arissa — at around RM48 million. Its share price is down over 23% year to date.

In Focus Dynamics, Morgan Stanley disposed of 129.02 million shares — equivalent to a 2.02% stake — reducing its deemed interest to about 3.71%

Based on the closing price of one sen on the transaction date, the stake would be valued at around RM1.29 million. Morgan Stanley had already been reducing its stake in Focus Dynamics since May 2025, when it held about 9.63%.

Focus Dynamics is principally an investment‑holding company whose subsidiaries manage food & beverage outlets in Malaysia and Hong Kong, and also conduct property‑investment, engineering services and other diversified business operations.

In NetX, Morgan Stanley sold 28.60 million shares — or 3.05% — trimming its holding from 6.46% (as of mid‑August) to around 3.41%. Assuming a closing price of four sen on the sale date, the disposal would be worth about RM1.14 million.

NetX, a technology company, saw its share price close at four sen on Wednesday, valuing the firm at roughly RM37.52 million. Year to date, NetX’s share price has fallen more than 55%.