This article first appeared in Capital, The Edge Malaysia Weekly on June 1, 2026 - June 7, 2026
Notable filings
During the week of May 18 to 22, notable shareholding changes at Bursa Malaysia-listed companies included those at Inari Amertron Bhd (KL:INARI), which saw Insas Bhd (KL:INSAS) dispose of 100 million shares or a 2.62% stake in the outsourced semiconductor assembly and test provider for RM186 million on May 19.
In a filing with Bursa, Insas said its wholly-owned subsidiaries, Insas Technology Bhd and Insas Plaza Sdn Bhd, sold the shares at RM1.86 each, representing a 1.59% discount to Inari’s May 18 closing price of RM1.89.
Following the disposal, Insas’ stake in Inari fell to 9.67%. The investment group said the transaction is expected to generate a gain of RM84 million.
Over the past 12 months, Insas has traded 146.93 million Inari shares through open market and direct business transactions, with a combined transaction value of RM293.78 million.
At Hong Seng Consolidated Bhd (KL:HONGSENG), Kevin Jit Singh Ragbir Singh disposed of 100 million shares on May 20, reducing his stake in the healthcare products maker to 7.31%.
Kevin Jit Singh first emerged as a substantial shareholder in Hong Seng on Jan 30 after subscribing for 510.91 million shares under the company’s private placement exercise, giving him a 9.09% stake at the time.
He also serves as executive director of MMAG Holdings Bhd (KL:MMAG), a role he assumed on Nov 3, 2025 — the same day businessman Victor Chin Boon Long stepped down from the board.
Meanwhile, at Metro Healthcare Bhd (KL:METRO), Sheikh Mohd Nasarudin — son of the late Tan Sri SM Nasimuddin SM Amin, who founded the Naza Group — ceased to be a substantial shareholder after disposing of 7 million shares or a 0.7% stake on May 20.
The sale reduced his equity interest in the healthcare group to 4.4%, below the 5% disclosure threshold for substantial shareholders. He first emerged as a substantial shareholder in the in vitro fertilisation centre operator in October last year.
Notable movements
GIIB Holdings Bhd (KL:GIIB) saw Wee Teng Chuen and Choo Kee Siong cease to be substantial shareholders after HAGF Investment (I) Pte Ltd disposed of 50 million shares in the rubber compounds and rubber-related products manufacturer.
HAGF is a private equity fund managed by Hildrics Capital Pte Ltd, which is owned by Wee and Choo. Following the disposal, HAGF’s stake in GIIB fell to 4.21%.
Separately, Mega Fortris Global Pte Ltd emerged as a substantial shareholder in GIIB on May 18 after subscribing for 65.04 million placement shares, equivalent to a 9.09% stake. Mega Fortris Global is the largest shareholder of Mega Fortris Bhd (KL:MEGAFB), with 65% equity interest.
Gan Kok Xian, who recently launched a takeover offer for Pineapple Resources Bhd (KL:PINEAPP), is deemed interested in GIIB through his indirect stake in Mega Fortris Global via ProWealth Management Holding Ltd.
The placement made Mega Fortris Global the second-largest shareholder in GIIB after CEO Tai Qisheng, who holds a 10.7% stake. Datuk Seri Lim Kok Han is another substantial shareholder with 6.63% equity interest.
GIIB shares have surged since April 20, climbing from 7 sen to a record high of 40 sen on May 26, giving the company a market value of RM286.2 million. According to AskEdge data, the stock is trading at 9.2 times book value.
At Silver Ridge Holdings Bhd (KL:SRIDGE), group managing director Datuk Khoo Yik Chou raised his stake in the telecommunications solutions provider to 17.49% on May 21, from 15.74% on May 18.
On May 18, Khoo acquired 8.4 million shares, or a 2.07% stake, at 24 sen apiece. On the same day, he disposed of 525,000 shares, or a 0.129% stake, at 38 sen each. He also bought an additional 260,000 shares at 38 sen apiece.
Silver Ridge shares have climbed this year from 30.5 sen to 38.5 sen on May 26, valuing the company at RM154.7 million. AskEdge data shows that the stock is trading at 136.5 times trailing 12-month earnings.
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