This article first appeared in Capital, The Edge Malaysia Weekly on October 2, 2023 - October 8, 2023

For the week of Sept 18 to 22, notable shareholding changes at Bursa Malaysia-listed companies included those at CB Industrial Product Holding Bhd (CBIP), which saw US-based Yacktman Asset Management LP ceasing to be a substantial shareholder in the palm oil equipment and parts manufacturer.

According to recent bourse filings, Yacktman disposed of 1.08 million shares, or 0.227% equity interest, via an off-market transaction to Zee Capital Sdn Bhd on Sept 19. The transacted price was RM1.12 per share, which saw Zee Capital forking out cash of RM1.21 million.

This led to Zee Capital, the private investment vehicle of CBIP co-founder and managing director Datuk Lim Chai Beng, holding a direct stake of 35.26 million shares, or 7.415%, in CBIP. The transaction also led to Lim’s indirect stake increasing to 47.13 million shares, or 9.912%. Lim directly holds another 15.84 million shares, or 31.933%, in CBIP.

Yacktman first surfaced as a substantial shareholder in CBIP in December 2018, holding 25.8 million shares, or 5.042% equity interest.

CBIP shares closed at RM1.11 last Tuesday, giving it a market capitalisation of RM527.8 million. The stock has recovered 22% from its 52-week low of 91 sen on July 10.

Over at Country View Bhd, Munawir Khadri ceased to be a substantial shareholder of the Johor-based property developer after disposing of one million shares via a direct business transaction to its executive director Wong Chee Sean @ Wong Sean on Sept 21. Wong had also acquired 500,000 Country View shares from Munawir on Sept 20. Prior to this, Munawir had 5.83 million shares, or a 5.83% stake, in the company.

The transactions were conducted between Munawir’s private vehicle Neoasas Teknik Sdn Bhd and Wong’s Summer Earth Sdn Bhd. After the acquisitions, Wong directly held 19.4 million shares, or 19.405% equity interest, and indirectly owned two million shares, or a 2% stake, in Country View.

The transacted price was not disclosed, but the counter closed at RM1.10 on Sept 20 and 21. The company’s share price has risen 14.6% year to date (YTD).

Meanwhile, Bursa filings show that DXN Holdings Bhd founder and executive chairman Datuk Dr Lim Siow Jin and his spouse Datin Leong Bee Ling have been increasing their equity interest in the health-oriented and wellness direct-selling company through their private vehicle LSJ Global Sdn Bhd since the beginning of September. The latest transaction involved an acquisition of 115,000 shares, or a 0.002% stake, in DXN, for a total of RM80,385 or 69.9 sen per share. This brings LSJ Global’s direct stake to 3.39 billion shares, or a 68.074% stake, as at Sept 21.

In its first financial quarter ended May 31, 2023, DXN reported a marginal 0.6% year on year (y-o-y) increase in net profit to RM77.6 million on the back of a 17.6% y-o-y rise in revenue to RM423.98 million. The increase in revenue was mainly driven by the continuous sales growth of fortified food and beverages in Latin America and India, as well as the depreciation of the ringgit against major foreign currencies.

DXN’s share price closed at 68.5 sen last Tuesday, giving the company a market capitalisation of RM3.41 billion.

The share price of Tanco Holdings Bhd has risen 63% so far this year after hitting a 52-week low of 34 sen on Jan 5. The stock settled at 55 sen last Tuesday, valuing the property developer at RM1.09 billion.

According to Bursa filings, Tanco’s group managing director Datuk Seri Andrew Tan Jun Suan has been accumulating shares in the company via the open market since February. During the week in review, he acquired five million shares, or a 0.252% stake, for a total of RM2.8 million, or 56 sen per share.

As at Sept 22, he directly held 210.98 million shares, or a 10.64% stake, and indirectly owned 785.06 million shares, or 39.591% equity interest, through TJN Capital Sdn Bhd.

On Sept 21, Tanco announced that its indirect wholly-owned subsidiary, Palm Springs Development Sdn Bhd, would jointly develop a 22,905.5 sq m parcel of land in Puchong Perdana, Selangor, with privately held Accession Development Sdn Bhd. The gross development value of the project is pegged at RM500 million.

S P Setia Bhd’s share price has risen 73% YTD to close at RM1.04 last Tuesday, giving the property developer a market capitalisation of RM4.25 billion.

Filings show that Kumpulan Wang Persaraan (Diperbadankan) (KWAP) had offloaded 1.82 million shares in the company on the open market on Sept 22. Post-transaction, KWAP had a direct stake of 356.7 million shares, or 8.725%, and an indirect stake of 409.24 million shares, or 1.285%.

The Employees Provident Fund Board (EPF) ceased to be a substantial shareholder of S P Setia after disposing of 5.42 million shares on July 25. After the disposal, EPF had 200.26 million shares, or 4.908% equity interest, in the company. 

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