Notable filings

Notable shareholding changes at Bursa Malaysia-listed companies from Aug 1 to 5 included that at Caely Holdings Bhd, which saw businessman Datuk Seri Tee Yam @ Koo Tee Yam continue to expand his holding in the lingerie maker.

In stock exchange filings, Caely said Koo bought 5.5 million and 10 million of the company’s shares off market on Aug 1 and 3 respectively. This raises his stake to 19.12%, or 49.38 million shares, from 13.12% the week before, closing the gap with the company’s largest shareholder Datuk Seri Goh Choon Kim, who holds a 21.05% stake.

In the same period, former executive chairman Datuk Wira Ng Chun Hau disposed of 19.5 million shares, or a 7.55% stake, via both open-market and off-market transactions. Following Ng’s disposal, he is left with a 4.6% direct stake in the company.

A July 29 news report shows that five directors of Caely were appointed to the board of construction engineering group Top Builders Capital Bhd. They are Caely chairman Datuk Loh Ming Choon, executive vice-chairman Wong Siaw Puie, executive director Datuk Seri Sin Hock Min and independent directors Datuk Mohammad Hanafiah Zakaria and Ng Mei Choo. A check on Bloomberg indicates that the lingerie maker and Top Builders do not have any common major shareholders.

Meanwhile, GAT Success (M) Sdn Bhd, a substantial shareholder of Kejuruteraan Asastera Bhd (KAB), sold 10 million shares representing 0.55% equity interest in the engineering and energy solutions provider on Aug 2.

A check on KAB’s 2021 annual report shows that GAT Success — as well as Everest Pavilion Sdn Bhd — are vehicles of Cherry Anne Tong Chung Ling, who held a 6.2% stake (111.54 million shares) in KAB as at April 5.

Over at Metronic Global Bhd, Fitters Diversified Bhd (FDB) — via its unit Fitters Property Development Sdn Bhd — upped its stake in the provider of hardware and software required for the control and management of intelligent buildings, to 15.4% (or 233.7 million shares) after acquiring a total of 31.7 million shares on the open market on July 28 and Aug 2.

FDB had on July 13 emerged as a substantial shareholder of loss-making Metronic after its unit subscribed for 201 million rights shares and excess rights shares, giving FDB an indirect stake of 13.255% in Metronic.

The next day (July 14), Metronic announced the resignation of former attorney-general Tan Sri Mohamed Apandi Ali from its board. Apandi, 72, who had been appointed as an independent non-executive chairman in July 2021, resigned on account of “personal commitments”, according to the company’s stock exchange filing.

In a separate filing, Metronic also announced the resignation of its deputy independent non-executive chairman Datuk Seri Tan Choon Wa following his appointment as the company’s adviser.

Around the same period, Metronic announced that it had entered into two power purchase agreements (PPA) in Kedah with a total contract value of RM50 million via a joint venture between Sinaran PPA Sdn Bhd — in which it has a 70% stake — and Earthtech Sdn Bhd. Metronic said it had raised the required funds via its RM77.97 million rights issue for Sinaran PPA to kick-start the solar business.

On Aug 4, Metronic told Bursa that it expected to generate a total gross software merchandise turnover of RM100 million in the next five years, following its unit Metronic Integrated System Sdn Bhd’s venture into the Internet of Things, logistics technology and e-commerce.

Metronic’s shares closed at 5.5 sen last Tuesday, giving the company a market capitalisation of RM84.1 million.

Notable movements

Year to date, shares of Central Global Bhd (CGB) have fallen 28.2% to 95.5 sen last Wednesday, giving the industrial tape and label stock maker a market value of RM119.17 million.

On Aug 1, CGB managing director Chew Hian Tat acquired 6.5 million shares, raising his stake to 30.56% (38.14 million shares). The deal was done via a direct business transaction with RYRT Holdings Sdn Bhd — a vehicle of Soo Yu Chai and Lee Chee Vui, who have equal shareholding in it. RYRT is left with an 11.8% stake (14.7 million shares) following the disposal of shares to Chew.

Chew had emerged as a major shareholder in CGB in February 2021 when he acquired close to a 25% stake in the group, while RYRT emerged as a substantial shareholder of the group when it subscribed for 4.47 million shares at RM1.04 apiece, totalling RM15.05 million, on April 18.

Meanwhile, the share price of ACE Market-listed Sedania Innovator Bhd has slipped 20% over the last 30 days to close at 36 sen last Tuesday. Datuk Seri Mohamed Faroz Mohamed Jakel disposed of a total of 19.85 million shares in the provider of sustainable energy solutions on the open market from Aug 1 to 4, leaving him with a 7.66% stake (26.5 million shares).

Mohamed Faroz, who is textile trader and property developer Jakel Group’s managing director, emerged as a major shareholder of Sedania Innovator in May 2021 following a private placement of 43.53 million shares that gave him a 12.55% stake in the group.