Notable filings

FROM May 29 to June 2, notable filings included the Employees Provident Fund (EPF) selling down banking stocks.

Interestingly, amid the proposed shares-only merger between RHB Bank Bhd and AMMB Holdings Bhd, the EPF sold a net 11.48 million AMMB shares between May 25 and 30, retaining 296.7 million shares.

At the same time, the EPF sold 24.87 million shares in CIMB Group Holdings Bhd. This leaves it with 1.08 billion shares in CIMB, or an 11.93% stake, its holding trimmed by 2.25%.

The EPF also sold 21.24 million shares in Malayan Banking Bhd, retaining 1.25 billion shares, or a 12.17% stake. Thus, the EPF trimmed its holding in Maybank by 1.67%.

Separately, the EPF sold 1.68 million BIMB Holdings Bhd shares, retaining 204.14 million shares, or a 12.5% stake. The EPF also sold 3.7 million Public Bank Bhd shares, retaining 522.78 million shares, or a 13.5% stake. At the same time, the EPF sold 3.3 million shares in Alliance Financial Group Bhd, retaining 296.7 million shares, or a 12.25% stake.

The only bank that the EPF was a net buyer of was Hong Leong Bank Bhd, in which it acquired 1.25 million shares to raise its holdings to 264.11 million shares, or a 12.66% stake.

Separately, Gerak Juara Sdn Bhd disposed of 60 million shares in RGB International Bhd on May 30, ceasing to be a substantial shareholder. However, Mazlan Ismail, who has a stake in Gerak Juara, acquired 50 million of the said shares. This gives him a cumulative 7.11% stake in RGB.

Over in Sunway Real Estate Investment Trust, former non-executive chairman Tan Sri Jeffrey Cheah has disposed of 12 million shares. However, this is just a drop in the bucket compared with the 1.2 billion shares the founder of Sunway Group holds in the company.

K-Star Sports Ltd saw Lum Yet Chong ceasing to be a substantial shareholder on May 30 following his disposal of 1.25 million shares in the company.

It is also interesting to note that the EPF has disposed of 28.65 million shares in Malaysia Airports Holdings Bhd, a whopping 15% of its holding in the company. The EPF retains a 9.19% stake in MAHB.

Notable movements

Sentoria Group Bhd was among recent notable movers. The company’s shares rose almost 19% in the past month to close at 89 sen last Wednesday.

Datuk Gan Kim Leong disposed of 34.96 million shares in the company in total between May 25 and June 5 via his vehicle, Sentoria Capital Sdn Bhd. With 269.3 million shares retained, his stake is thus reduced to 55.19%. He sold 10 million shares at 83 sen apiece on May 25 and another 24.1 million shares at the same price on June 5.

Meanwhile, managing director and founder Datuk Lim Thean Keong has disposed of his entire 57 million shares in M-Mode Bhd. However, his vehicle Corvina Sdn Bhd has acquired 50.89 million shares. In the process, his direct stake of 35.03% was reduced to 31.27% while director Ong Chee Koen’s holding simultaneously increased by 6%.

M-Mode’s share price has rebounded sharply this year, closing at 34 sen apiece last Wednesday. This is almost 42% higher from the beginning of the year.

Engtex Group Bhd’s share price shot up to as high as RM1.50 in May from around RM1.26 earlier. Manulife Asset Management Services Bhd emerged as a substantial shareholder with a 5.35% stake in the company after acquiring 18.55 million shares between May 24 and 26. Engtex’s share price closed lower at RM1.33 last Wednesday.

Separately, Dolphin International Bhd’s share price continued to plunge, falling to 23 sen last week. A year ago, the company’s share price was hovering at just below 80 sen. Group managing director Low Teck Yin disposed of 2.5 million shares in the company on June 2, leaving him with a 23.26% stake.