Notable filings

For the week of Sept 12 to 15, notable changes in shareholding at Bursa Malaysia-listed companies included those at furniture manufacturer SHH Resources Holdings Bhd.

On Sept 14, privately held SX Capital Sdn Bhd acquired 13.79 million shares in SHH, strengthening its total shareholding to 30 million shares or a 30% stake. This resulted in SX Capital being the largest shareholder of SHH.

SX Capital is likely to have acquired the blocks of shares from Datuk Teo Wee Cheng and his wife Datin Teo Chan Huat, who are the managing director and deputy managing director of SHH respectively. The couple have trimmed their stake in SHH to 17.16%, from just above 30% previously. SX Capital’s shareholders are Ken Lew Khim Khim and Tan Kuan Hai with a 47.5% stake each in the company, and Lew Khim Chen with the remaining 5% stake.

Khim Khim was appointed to the board of SHH as an executive director last week. He is the CEO and managing director of Shui Xing Group, which is involved in the supply chain and logistics businesses.

SHH’s stock hit a multiyear high of 79 sen apiece on Sept 15. Its share price has eased since then to close at 68.5 sen last Wednesday, translating into a market capitalisation of RM69 million.

At healthcare service provider LYC Healthcare Bhd, Sui Diong Hoe, via Suicap Venture Sdn Bhd, has surfaced as a substantial shareholder with 37 million shares, or 6.26% equity interest, after taking up shares from a private placement. Sui is LYC Healthcare’s CEO and managing director.

LYC Capital Sdn Bhd, the private vehicle of Lim Yin Chow, acquired 40 million shares via a placement as well, strengthening its shareholding to 95.43 million shares or a 16.15% stake. Lim — both directly and indirectly — has a 18.09% stake in LYC Healthcare. Lim’s daughter, Lim Yan Tong, is the chief operating officer of LYC Healthcare’s confinement centres.

LYC Healthcare shares ended trading last Wednesday at 18 sen apiece, valuing the group at RM99.64 million.

During the week in review, Mieco Chipboard Bhd managing director Datuk Seri Ng Ah Chai acquired an additional 15.45 million shares in the company, increasing his stake to 604.92 million shares or 60.49% equity interest. Ng has been tightening his grip on Mieco Chipboard. In May, he had a 52.24% stake or 522.37 million shares.

Mieco Chipboard shares closed at 58.5 sen last Wednesday, valuing the company at RM112.85 million.

At Jentayu Sustainbles Bhd (formerly Ipmuda Bhd), Abdullah Faroff Husain acquired 10 million shares in the company via a private placement, increasing his stake to 19.38 million shares or a 5.49% stake.

Jentayu Sustainables is involved in the manufacturing of building materials and renewable energy, among other businesses.

Since end-May, Jentayu Sustainables’ shares have gained more than 60% to close at 53 sen last Wednesday, pegging the company’s market value at RM185.45 million.

Notable movements

Dayang Enterprise Holdings Bhd’s stock hit a 52-week high of RM1.17 last Wednesday. Since mid-July this year, the company’s shares have gained by more than 30%.

Gains in Dayang’s share price could be attributed to the recovery in oil and gas (O&G) activity, brought about by strong oil prices. Oil prices — despite having shed about 25% from early June this year — are still high at above US$90 per barrel. Dayang, with its mainstay in the provisioning of maintenance services, fabrication, hook-up and commissioning and marine services, has benefitted from the heightened activity.

During this period of strength in Dayang’s stock, Ministry of Finance Inc’s Urusharta Jamaah Sdn Bhd hived off four million shares, trimming its stake in Dayang to 75.92 million shares or 6.56%.

In mid-August this year, Urusharta Jamaah held 88.94 million shares, or 7.68% equity interest, in the oil and gas company.

To recap, Urusharta Jamaah had acquired the underperforming assets of pilgrim fund Lembaga Tabung Haji at end-December 2018, forking out RM19.9 billion for the assets, which included parcels of land, commercial buildings, hotels, plantations and shares in 106 listed companies. Urusharta Jamaah forked out a 99% premium for the pilgrim fund’s asset, and has been paring down its stakes in several of the companies.

Over at Aimflex Bhd, Datuk Awang Daud Awang Putera ceased to be a substantial shareholder after hiving off close to 116 million shares or a 9.48% stake in the manufacturer of specialised automation machines.

Aimflex’s stock generated considerable interest from mid-August, gaining 4.5 sen or 39% to 16 sen in mid-September, but tapered off to close at 14.5 sen last Wednesday.

Awang Daud is one of the founders of beleaguered O&G company Serba Dinamik Holdings Bhd and is a non-independent non-executive director at the company.