This article first appeared in Capital, The Edge Malaysia Weekly on September 7, 2026 - September 13, 2026
Notable filings
During the week of Aug 24 to 28, notable shareholding changes among Bursa Malaysia-listed companies included those at Sarawak-based steel maker Asteel Group Bhd (KL:ASTEEL) — formerly YKGI Holdings Bhd — where Hii Capital Holdings Sdn Bhd, wholly owned by businessman Datuk Clifford Hii Toh Leong, emerged as a substantial shareholder.
Toh Leong is the son of Tan Sri Clement Hii Chii Kok, founder and executive chairman of property developer HCK Capital Group Bhd (KL:HCK) and group managing director and major shareholder of private education group SEG International Bhd.
Hii Capital had acquired 270 million Asteel shares, equivalent to a 52.94% stake, on Aug 24 from Asteel executive chairman Tan Sri Soh Thian Lai, group managing director Datuk Seri Victor Hii Lu Thian and their respective related parties, as well as Yung Kong Co Bhd and other related entities, for RM20.25 million or 7.5 sen per share.
The transaction triggered a mandatory takeover offer by Hii Capital for the remaining Asteel shares at the same price. The 7.5 sen offer price represents a 4.31% premium to the counter’s July 21 closing price of 7.19 sen. Toh Leong intends to maintain its listing status.
Asteel shares have gained 60% year to date (YTD) to close last Thursday at 12 sen, valuing the company at RM61.2 million.
Meanwhile, CBH Engineering Holding Bhd (KL:CBHB) saw Quay Holdings Sdn Bhd, the private vehicle of co-founder and managing director Cheah Boon Hwa, dispose of 94 million of its shares or a 4.998% stake via a direct business transaction on Aug 20 for RM76.14 million or 81 sen per share. Following the disposal, Quay Holdings held 1.2 billion shares or a 63.73% stake in the electrical engineering company.
CBH Engineering shares have gained 93% YTD to close last Thursday at 88 sen per share, valuing it at RM1.66 billion. The counter has more than tripled from its 28 sen initial public offering price when it listed in January last year.
At plantation and property outfit MKH Bhd (KL:MKH), Lim Kuan Gin ceased to be a substantial shareholder on Aug 27 after disposing of his entire 29.23 million shares or a 5.069% stake to Whitmore Holdings Sdn Bhd pursuant to its mandatory takeover offer. Lim had acquired the shares via the open market in June.
In May, Whitmore, a wholly-owned subsidiary of Batu Kawan Bhd (KL:BKAWAN), announced the acquisition of a 47.7% stake in MKH from the founding Chen family for RM549.8 million in cash, triggering a mandatory general offer for the remaining shares at RM2 each.
Batu Kawan intends to take MKH private if it secures a 90% stake. As at Aug 13, 2026, it owned 293.44 million shares or a 50.875% stake in MKH. MKH shares closed at RM1.99 last Thursday, valuing the company at RM1.15 billion.
Notable movements
During the week under review, the Employees Provident Fund Board (EPF) disposed of 3.33 million shares in KPJ Healthcare Bhd (KL:KPJ), in five blocks on Aug 24. It disposed of another 19.12 million shares on Aug 26 while acquiring 3.58 million shares the same day, bringing the fund’s interest to 783.14 million shares or 17.9%.
Shares in the hospital operator fell from RM3.12 on Aug 21 to RM2.80 on Aug 24 and RM2.70 the next day following the Aug 21 announcement of the departure of president and managing director Chin Keat Chyuan effective Sept 1, after three years at the helm.
KPJ shares had risen to a 52-week high of RM3.509 on April 2 before closing at RM2.70 last Thursday, valuing the group at RM11.95 billion.
At Sabah-based Timberwell Bhd (KL:TIMWELL), Quattrini Holdings Sdn Bhd disposed of 710,000 shares or a 0.797% stake to its sole director Wong Wai Foo, who is also an executive director of Timberwell, on Aug 24 for RM1.21 million or RM1.70 per share. Following the disposal, Quattrini held 17.06 million shares or 19.16%.
Bourse filings show that Wong continued to accumulate Timberwell shares on the open market, acquiring 300,000 shares for RM585,000 or RM1.95 per share on Aug 26, followed by 200,000 shares for RM396,000 or RM1.98 per share.
As at Aug 28, 2026, Wong held a direct 51.48% stake as well as an indirect 19.16% stake through Quattrini. He first emerged as a substantial shareholder in January after acquiring 28.51 million shares or a 28.65% stake.
Timberwell shares have gained 183% YTD to settle at RM2.12 last Thursday, valuing the logging company at RM188.8 million.
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