Notable filings

For the week of Nov 21 to 25, notable shareholding changes at Bursa Malaysia-listed companies included those at Ancom Nylex Bhd.

The agricultural chemical manufacturer saw Pacific & Orient Bhd (P&O) cease to be a substantial shareholder after the latter disposed of 20 million shares in the company for RM17.4 million, or 87 sen per share, on Nov 17 via a direct business transaction. On Nov 23, P&O announced that it sold an additional 14 million shares in Ancom Nylex for RM12.18 million, or 87 sen, as well.

As at end-August, P&O held 47.73 million shares, or 5.5% equity interest, in Ancom Nylex. P&O had been a substantial shareholder in Ancom Nylex since November 2000.

While it is not entirely clear who acquired the shares in Ancom Nylex, a day after the sale by P&O was announced, the former’s executive chairman Datuk Siew Ka Wei and managing director Lee Cheun Wei acquired 6.02 million shares and five million shares respectively, nudging their shareholding to 22.61%, or 201.41 million shares, and 7.3%, or 65 million shares, respectively.

Ancom Nylex’s share price has not fluctuated much over the past few months and was unchanged last Wednesday, closing at 95 sen, which translates into a market capitalisation of RM880.74 million.

At oil and gas outfit Dayang Enterprise Holdings Bhd, the Employees Provident Fund (EPF) was trading the company’s shares but was a net buyer, with 2.36 million shares, during the week in review. This nudged its stake up to 62.07 million shares, or 5.36%.

EPF surfaced as a substantial shareholder in Dayang on Nov 9, with 58.03 million shares, or 5.01% equity interest.

Dayang’s share price hit its 52-week high of RM1.38 on Nov 25. Since mid-July this year, it has gained more than 50% and ended trading last Wednesday at RM1.40, valuing the company at RM1.55 billion.

During the week in review, GAT Success (M) Sdn Bhd — the private vehicle of Cherry Anne Tong Chun Ling — ceased to be a substantial shareholder in mechanical engineering concern Kejuruteraan Asastera Bhd (KAB), after selling 10 million shares.

Cherry Anne first surfaced as a substantial shareholder in KAB in mid-July 2019, holding 40 million shares, or an 11.34% stake, before the company undertook a share split in April 2021.

She commenced selling blocks of shares of KAB in February this year.

Meanwhile, lawyer and corporate player Kington Tong Kum Loong (it is unclear whether there is any relation to Cherry Anne) acquired 4.27 million shares during the week in review, increasing his stake in Kejuruteraan Asastera to 258.88 million shares, or 14.36%.

Kington has been a substantial shareholder in companies such as Kumpulan Jetson Bhd and Emico Holdings Bhd.

KAB’s share price hit its 52-week high of 48.5 sen on Nov 8 and has largely maintained its position, ending last Wednesday at 43 sen. Since mid-October this year, the counter has gained about 20%.

At education group Minda Global Bhd, businessman Datuk Lye Ek Seang emerged as a substantial shareholder, with a 21.27% stake, or 357.14 million shares. Lye’s stake in Minda Global came about as a partial settlement for his sale of a parcel of land and a building to UOC Sdn Bhd, a wholly-owned unit of Minda Global.

Lye, a well-known figure in corporate Malaysia, is on the boards of Tropicana Corp Bhd and Berjaya Assets Bhd, and has substantial stakes in Ho Hup Construction Co Bhd and Redtone Digital Bhd.

Minda Global ended trading last Wednesday at 6.5 sen, giving the company a market value of RM100.74 mil.

Notable movements

The share price of My EG Services Bhd, an e-government service provider, fell to its 52-week low of 71.5 sen on Aug 29, but has since gained more than 23% to end at 88.5 sen last Wednesday. At last Wednesday’s close, MyEG had a market value of RM6.58 billion.

During this period of weakness, both EPF and Kumpulan Wang Persaraan (Diperbadankan) (KWAP) have been actively trading MyEG’s shares. During the week in review, EPF acquired 12.53 million shares in the company, increasing its stake to 502.79 million shares, or 6.76%; KWAP snapped up 1.5 million shares, strengthening its holding to 521.8 million shares, or 6.92%.

Time dotCom Bhd’s share price hit its 52-week high of RM5 on Nov 22, after having gained almost 17%, or 61 sen, since end-August this year. Since then, the stock has tapered off and ended trading last Wednesday at RM4.88, giving the company a market value of RM8.96 billion.

During the week in review, EPF sold 622,200 shares, trimming its stake to 117.17 million shares, or 6.38%; KWAP sold 495,700 shares, reducing its holding to 105.31 million shares, or 5.73%.