Notable filings
BETWEEN Dec 4 and 8, notable shareholding changes filed with Bursa Malaysia included the acquisition of 63.08 million shares, or a 5.68% stake, of 7-Eleven Malaysia Holdings Bhd by the Sultan of Johor, Sultan Ibrahim Sultan Iskandar.

The shares were acquired from Isotrema Sdn Bhd, which is controlled by Mauritius-registered Creador II, LLC. Creador ceased to be a substantial shareholder after the Dec 6 transaction while the Sultan’s stake increased to 15.5%. That day, 63.08 million shares changed hands in a single direct deal at RM1.45 apiece, a 4.6% discount to the RM1.52 they were fetching on the open market.

Separately, Khoo Nang Seng @ Khoo Nam Seng sold 15 million Ekovest Bhd shares from Dec 4 to 6 and is no longer a substantial shareholder. One of the company’s co-founders, Khoo has been with the company since 1985. He was executive director until he resigned on Nov 7 to “pursue other interests”. His resignation came just weeks before Ekovest’s annual general meeting, where he was due for re-election to the board. While his shareholdings have dipped below the 5% threshold deemed as substantial, Khoo held about 105 million Ekovest shares on Dec 6, which were worth RM98.4 million at the closing price of 93.5 sen.

Over at Boon Koon Group Bhd, a Dec 5 filing shows that Datuk Goh Boon Koon sold 21.94 million shares on Nov 29 off market to BKNT Resources Sdn Bhd, which he is deemed interested in. After the transaction, the founder and executive chairman of Boon Koon has a 9.02% stake, of which 0.75%, or 2.15 million shares, is held directly. Stock market data shows 21.94 million shares changed hands at 36 sen apiece on Nov 29, below the 50 sen to 50.5 sen they were fetching on the open market.

Maxwell International Holdings Bhd saw non-executive director Li Kwai Chun selling 16.33 million shares on Dec 6 and 7, paring down his holding to 39.46%. Li was president of the China-based shoe maker until he was redesignated on July 31.

Permodalan Nasional Bhd disposed of 14 million shares in UMW Holdings Bhd on Dec 4, reducing its stake to 5.65% or 66 million shares.

On Dec 5, Yi-Lai Bhd saw Ambleside Associates Group Ltd disposing of 12.25 million shares and ceasing to be a substantial shareholder. Cheng Yong Liang, who had deemed control of Ambleside, ceased to be a substantial shareholder as well.

Separately, Testa Holdings Ltd sold 23.8 million Xinghe Holdings Bhd shares on Dec 4, leaving it with a 51% stake. Managing director Ma GuoLiang and his spouse, deputy chairperson Li Hui Jun, are deemed interested in the stake. The 23.8 million shares changed hands at 0.5 sen apiece in a single direct deal, substantially below the 4.5 sen they were fetching on the open market, stock market data shows.

Notable movements

ML Global Bhd shares have more than doubled year to date to last Tuesday’s closing price of RM1.70. They were up 31% from two months ago. Its recent high was RM1.74 on Nov 28.

Executive director and CEO Datuk Lim Lit Chek locked in some of the gains, selling 10 million shares on Nov 29. He retains a 9.56% stake. On Dec 8, the construction company announced that an RM76.44 million contract that was awarded to a wholly-owned subsidiary had been terminated.

Orion IXL Bhd shares tumbled 70.5% from 39 sen on May 17 to a 52-week low of 11.5 sen on Dec 5. Shaharul Mohamad Shariff acquired 36.93 million shares in the company on Dec 7, giving him a 6.17% stake. Of the shares acquired, 18.65 million shares were disposed of by non-executive director Yahya Razali and 18.28 million were disposed of by non-executive director Adnan Zainol. Yahya and Adnan retain stakes of 4.35% and 1.74% respectively.

The shares were likely bought at 12.5 sen apiece, being the price 36.93 million shares changed hands in two direct deals on Dec 7, stock market data shows. The shares traded at between 11.5 sen and 12.5 sen before closing at 11.5 sen that day.