This article first appeared in Capital, The Edge Malaysia Weekly on July 28, 2025 - August 3, 2025

Notable changes in shareholding at companies listed on Bursa Malaysia during the week of July 14 to 18 include the emergence of Globetronics Technology Bhd (KL:GTRONIC) as a substantial shareholder of Mpire Global Bhd (KL:MPIRE), formerly known as Sand Nisko Capital Bhd.

The loss-making Mpire, which is involved in property development and construction, fleet management and financing services, announced on July 18 that Globetronics had acquired 277.22 million shares in the company, giving it a 30.85% stake. The shares were purchased from Velocity Capital Sdn Bhd, the investment vehicle of Datuk Goh Soo Wee and Teh Kok Liang. Goh is the executive chairman of Mpire while Teh is a non-independent non-executive director.

Besides the equity stake, Globetronics, an integrated contract manufacturer of semiconductor-based products and services, also purchased 53.99% of Mpire’s Warrant C, according to its own filing with Bursa Malaysia. The group said that it paid RM45.05 million for the shares and warrants.

On July 15, Elridge Energy Holdings Bhd (KL:ELRIDGE) announced that Urusharta Jamaah Sdn Bhd (UJSB) had emerged as a substantial shareholder after it acquired 7.19 million shares or 0.36% of the group’s share base on July 9.

The acquisition pushed UJSB’s stake in the biomass fuel products manufacturer to 5.26%, according to Elridge’s filing with the stock exchange. It is not known how much UJSB paid for the shares.

Following UJSB’s acquisition, Bio Eneco Holdings Sdn Bhd disposed of 60 million shares or 3% of Elridge’s issued shares on July 16 through off-market transactions. This reduced Bio Eneco’s stake in the group to 6.33%.

It is not known to whom Bio Eneco sold the shares. The largest shareholder of Elridge is Yeo Hock Cheong, who held a stake of 23.35% as at April 7, followed by Mikro MSC Bhd (KL:MIKROMB), which develops and manufactures electrical distribution products, with 20.63%.

Meanwhile, Singapore-based private equity firm Dymon Asia Private Equity (SE Asia) Fund LP (DAPE) halved its stake in mineral water bottler Spritzer Bhd (KL:SPRITZER) on July 18, after disposing of 34.8 million shares or a 5.47% interest.

According to Spritzer’s filing with Bursa Malaysia, the shares were sold off-market by Tasik Puncak Holdings Ltd, a vehicle of DAPE. The block was transacted at RM1.53 per share, valuing the deal at RM53.24 million.

Post-disposal, DAPE’s stake was reduced to 35.36 million shares or a 5.55% stake — down from 11.02% previously. Yee Lee Corp Bhd, controlled by Datuk Sri Lim A Heng @ Lim Kok Cheong and his family, is Spritzer’s largest shareholder with a 32.3% stake.

The share price of Sunway Construction Group Bhd (KL:SUNCON) declined 10.4% from July 14 to reach RM5.33 on July 22, the lowest since May 22. At RM5.33, SunCon was valued at almost RM7 billion.

The fall coincided with the ongoing probe, dubbed Op Ways, by the Malaysian Anti-Corruption Commission (MACC) over alleged corruption involving the procurement of a data centre construction project tender in Johor worth some RM180 million.

MACC’s operation resulted in the arrest of the manager of a construction company, alongside his wife and two men in the Klang Valley.

On July 21, SunCon confirmed that one of its employees was being investigated by the MACC over engagements with unnamed subcontractors.

The Employees Provident Fund (EPF) ceased to be a substantial shareholder of SunCon on July 17 after the disposal of 20 million shares or 1.52% of the group’s share base by the fund’s portfolio manager Citigroup Nominees (Tempatan) Sdn Bhd.

The share price of Zetrix AI Bhd (KL:ZETRIX), formerly known as My E.G. Services Bhd, fell 7.5% from July 14 to 92.5 sen on July 22. At 92.5 sen, Zetrix AI was valued at RM7.16 billion.

Bursa Malaysia publicly reprimanded Zetrix AI on July 14 and fined seven of its directors RM150,000 each over misleading announcements and non-compliance with a regulatory directive regarding its role as a collection agent for government revenue and its continued role as an online service provider for the Immigration Department. The e-government services provider changed its name on July 3 to reflect its focus on blockchain, artificial intelligence and robotics.

Kumpulan Wang Persaraan (Diperbadankan) or KWAP, which manages the pension scheme for Malaysia’s public servants, ceased to be a substantial shareholder of Zetrix on July 15 after the disposal of 7.98 million shares, representing 0.1% of its share base, by its fund manager. 

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