Notable filings

BETWEEN Sept 25 and 29, notable shareholding changes at companies listed on Bursa Malaysia included that at Diversified Gateway Solutions Bhd (DGSB), which saw its parent company, Omesti Holdings Bhd, sell a 1.84% stake over three days.

Just over 25 million shares were sold at undisclosed prices between Sept 19 and 25 — the largest transaction being 19.7 million shares or a 1.45% stake on Sept 25 — bringing Omesti’s holding to 46.77%. The shares were pledged securities held by Amsec Nominees (Tempatan) Sdn Bhd.

On Sept 14, Lau Chi Chiang, 53, stepped down as DGSB’s CEO due to “other busy work commitment”, but remains as executive director. He had about 73 million DGSB shares or a 5.37% stake as at June 30.

On Sept 28, GD Express Carrier Bhd group CEO Teong Teck Lean increased his direct holding in the logistics firm by 10.33 million shares to 2.18%. He also holds a 36.78% stake indirectly.

In its financial year ended June 30, 2017, GD Express posted a 6.9% year-on-year increase in net profit to RM36.83 million. Revenue grew 14% y-o-y to RM250.51 million.

On Sept 27, Goh Ban Huat Bhd saw Paragon Adventure Sdn Bhd acquire a 51% stake from business tycoon Tan Sri Robert Tan Hua Choon, who is left with a 12.82% stake after the sale. The shares were transacted at RM1.40 apiece, three sen below the last closing price of RM1.43 on Sept 25. The transaction triggered a mandatory general offer.

In its first quarter ended June 30, Goh Ban Huat registered a net profit of RM445,000 on revenue of RM4.78 million.

Over at Naim Indah Corp Bhd, managing director and group CEO Datuk Seri Siaw Swee Hin disposed of 25 million shares in the company on Sept 29 in a direct trade. He continued paring down his stake until he ceased to be a substantial shareholder, with only 36,000 shares remaining, according an Oct 2 filing.

At the same time, filings show that Rajinder Kaur Piara Singh emerged as a substantial shareholder after acquiring 44.8 million shares or a 5.11% stake in Naim Indah on Oct 2.

RGB International Bhd managing director Datuk Chuah Kim Seah bought 10 million shares in the company on Sept 26, raising his direct holding to 27.52%.

In its second quarter ended June 30, RGB’s net profit rose 23.8% y-o-y to RM8.64 million.

Notable movements

Between Sept 25 and Oct 3, SMTrack Bhd’s share price has shed 24.24% to 12.5 sen. Filings show that Low Teh Beng disposed of 17 million shares on Sept 15 and is no longer a substantial shareholder in the company.

Meanwhile, Wai Ai Loo emerged as a substantial shareholder after her holding rose to 8.69% or 9.01 million shares after a private placement.

In its financial year ended July 31, 2017, SMTrack fell into a deeper net loss of RM7.93 million from RM905,000 in the previous year, despite a 48.4% increase in revenue to RM2.69 million.

In June, the company proposed to acquire US-based Wellspring Worldwide Ltd for RM310 million through a combination of cash and new shares, effectively paving the way for a reverse take-over of SMTrack. Wellspring is the global master licensor of Tutti Frutti Frozen Yogurt and O’ My Buns!

Sterling Progress Bhd, formerly known as 1 Utopia Bhd, saw its share price rise 5.13% to 20.5 sen from Sept 29 to Oct 2. However, it retreated 9.76% to 18.5 sen on Oct 3 and closed at 18 sen on Oct 4.

Filings show that FNS Avenue Sdn Bhd is no longer a substantial shareholder in Sterling Progress after selling 80.83 million shares or a 28.94% stake to Open Adventure Technologies Sdn Bhd. The shares were sold at 25 sen apiece — above the 19.5 sen they fetched on the open market on Sept 29. The stock last hit 25 sen in the middle of August 2014.

Executive directors Leong Seng Wui and Low Wey Heng are deemed interested in FNS Avenue’s holding. Seng Wui and his brother Leong Seng Hoong are deemed interested in Open Adventure’s holding.