This article first appeared in Capital, The Edge Malaysia Weekly on May 18, 2026 - May 24, 2026
Notable filings
For the week of May 4 to 8, notable shareholding changes among Bursa Malaysia-listed companies included those involving ASM Automation Group Bhd (KL:ASM), which was listed on the ACE Market in July last year at 17 sen.
Chong Ming Hang, via his private vehicle Aarcadia Technologies Sdn Bhd, emerged as a substantial shareholder of the automation machinery solutions specialist after acquiring 101.6 million shares, or a 19% stake, in a direct business transaction on May 4.
While the transaction price was not disclosed, Bloomberg data indicated that the shares were acquired at 17 sen apiece, representing a 9.7% premium to the stock’s closing price of 15.5 sen that day. This makes Chong the second-largest shareholder in ASM, behind only managing director Chan Kok Heng, who holds a 34.71% stake. Notably, Chan had sold 86.62 million shares, or a 16.2% stake, on May 4.
Meanwhile, executive director Leong Weng Khin divested 25.68 million shares, or a 4.8% stake, reducing his shareholding to 10.29%.
At Maxim Global Bhd (KL:MAXIM), executive director Chai Chang Guan and her brother Chai Seong Min disposed of a 15.54% stake in the property developer to managing director Tan Sri Gan Seong Liam for RM27.42 million.
The acquisition raised Gan’s direct interest in Maxim to 37.33%. As a result, Gan and the other offerors — including his children, Gan Kuok Chyuan and Gan Kuok Wei — extended a mandatory takeover offer of 24 sen per share for the remaining shares they did not own in Maxim Global.
Gan and parties connected to him now collectively own 60.37% of Maxim Global. They intend to maintain the company’s listing status on the Main Market. The offer price represents an 11.11% discount to the stock’s last traded price of 27 sen on April 30.
Elsewhere, Samarang UCITS, a Luxembourg open-ended investment company, ceased to be a substantial shareholder of Coastal Contracts Bhd (KL:COASTAL) after disposing of 10.13 million shares, or a 1.87% stake, reducing its interest in the oil and gas services company to 3.5%.
The company posted a net loss of RM48.1 million for the financial year ended Dec 31, 2025 (FY2025), compared with a net profit of RM163.03 million a year earlier. The loss was attributed to higher non-recurring operating costs related to a jack-up gas compression service unit, as well as an impairment loss recognised on amounts owing from a charterer.
Notable movements
After breaking above the RM4 level last year, ITMAX System Bhd’s (KL:ITMAX) share price continued its upward trajectory, hitting an all-time high of RM5.22 in January this year before paring gains to close at RM4.67 last Tuesday, giving the company a market capitalisation of RM4.84 billion.
The stock is down 2.1% since the start of the year. ITMAX is involved in the provision of video surveillance services, including a smart command centre and artificial intelligence-enabled closed-circuit television systems. It has secured several public contracts.
The Employees Provident Fund has been actively trading shares in ITMAX. In its latest transaction, the pension fund sold 807,700 shares, reducing its shareholding to 4.98% — slightly below the 5% substantial shareholding threshold.
For the financial year ended Dec 31, 2025 (FY2025), ITMAX’s net profit grew 16.4% to RM93.54 million, from RM80.39 million in FY2024, driven by stronger contributions from its digital infrastructure solutions business.
Over at Ge-Shen Corp Bhd (KL:GESHEN), shares in the precision engineering and manufacturing services firm have remained largely above the RM1.50 level, having touched a record high of RM1.77 in May 2025, although the stock has declined 8.6% year to date.
At last Tuesday’s closing price of RM1.49, Ge-Shen had a market capitalisation of RM619.8 million.
Chin Hin Group Bhd (KL:CHINHIN)-linked Chiau Haw Loon and Chiau Haw Yew, via private entity Enrich Signature Sdn Bhd, ceased to be substantial shareholders of Ge-Shen after selling 9.7 million shares, or a 2.33% stake, reducing their shareholding to 4.49%.
They first emerged as substantial shareholders of Ge-Shen in April 2024 after acquiring an 18.31% stake from the company’s former joint CEO Chan Choong Kong.
The brothers are sons of Chin Hin Group founder Datuk Seri Chiau Beng Teik, whose listed entities also include Chin Hin Group Property Bhd (KL:CHGP) and Signature International Bhd (KL:SIGN).
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