This article first appeared in Capital, The Edge Malaysia Weekly on December 16, 2024 - December 22, 2024

Over the week of Dec 2 to 6, among the notable changes in shareholding for companies listed on Bursa Malaysia were those at auto parts manufacturer and distributor EP Manufacturing Bhd (KL:EPMB).

Bermaz Capital Sdn Bhd (formerly Bermaz Anshin Sdn Bhd), a wholly-owned unit of Bermaz Auto Bhd (KL:BAUTO), surfaced as a substantial shareholder of EP Manufacturing after acquiring 33.04 million shares or 11.54% equity interest, through a placement exercise at 60 sen apiece or a total of RM19.24 million.

Post-acquisition, Bermaz, which distributes Mazda and Kia vehicles, is EP Manufacturing’s second-largest shareholder, just behind the latter’s executive chairman Hamidon Abdullah, who has a 20.68% stake.

EP Manufacturing shares hit a 52-week low of 55 sen in intraday trading on Dec 3. Since mid-July this year, the stock has shed about a third of its value, finishing at 57.5 sen last Wednesday, giving it a market capitalisation of RM164.7 million.

Eastern & Oriental Bhd’s (KL:E&O) executive chairman Datuk Tee Eng Hoe increased his shareholding in the property developer and hotel owner and operator after the conversion of irredeemable convertible unsecured loan stocks (ICULS), strengthening his shareholding to 58.27% from 51.12% previously.

Also, one of Tee’s vehicles, Javawana Sdn Bhd, surfaced as a substantial shareholder in E&O during the week in review with 148.96 million shares or 6.04% equity interest following the ICULS conversion.

Tee and his family are also the controlling shareholders of Kerjaya Prospek Property Bhd (KL:KPPROP) and construction company Kerjaya Prospek Group Bhd (KL:KERJAYA), holding 72% and 70% stakes respectively.

E&O ended trading last Wednesday at 96 sen for a market valuation of RM2.39 billion.

During the week in review, pension fund Kumpulan Wang Persaraan (Diperbadankan) or KWAP ceased to be a substantial shareholder of Aurelius Technologies Bhd (KL:ATECH) after hiving off 1.4 million shares and trimming its stake to below the 5% threshold required for disclosure.

KWAP emerged as Aurelius’ substantial shareholder in early October with a 5.01% stake. The Kedah-based electronics manufacturing services provider is paying its second interim dividend of 3.1 sen, which goes ex on Dec 16, with an entitlement date a day later. Aurelius’ share price closed last Wednesday at RM3.31, valuing the company at RM1.43 billion.

Meanwhile, Geneva Insurance Group (Barbados) Inc ceased to be a substantial shareholder in manufacturing and construction company Central Global Bhd (KL:CGB), after selling 35 million shares in an off-market transaction.

Privately held RYRT Holdings Sdn Bhd, the vehicle of Central Global’s executive director Lee Chee Vui, is likely to have acquired the block of shares and bumped up its shareholding to 14.16%.

Central Global ended trading last Wednesday at 86 sen for a market capitalisation of RM657.1 million.

The shares of oil and gas outfit Yinson Holdings Bhd (KL:YINSON) hit RM2.91 at the end of August, its highest since July 2022. While the stock then shed almost 15% of its value by end-November, it seems to have gained some lost ground lately, closing at RM2.75 last Wednesday for a market capitalisation of RM8.07 billion.

The Employees Provident Fund (EPF) and KWAP mopped up 2.71 million and 333,300 shares respectively in Yinson during the week in review, bringing to their shareholding of 17.34% and 7.66%.

At the same time, Yinson also bought back its own shares. With 479,000 shares acquired, this nudged up its treasury shares to 268.97 million, or 8.38% of its total share base.

Having been actively trading RHB Bank Bhd (KL:RHBBANK), EPF was the net seller of the country’s fourth-largest banking group by assets, following the disposal of 20.92 million shares. This pared down EPF’s stake to 38.59% from 39.18% in late October.

Closing at RM6.59 last Wednesday for a market valuation of RM28.73 billion, EPF’s share price is up more than 29% year to date. On Nov 27, it hit a multi-year high of RM6.83 in intraday trading. 

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