Notable filings

BETWEEN May 28 and June 1 notable changes in shareholding in companies listed on Bursa Malaysia included that at WCT Holdings Bhd. Controlling shareholder Tan Sri Lim Siew Choon, better known as Desmond Lim, bought 3.94 million shares when the construction firm’s share price was dropping. He holds 251.15 million shares, or a 17.8% stake, after the purchase.

The Employees Provident Fund bought 1.29 million WCT shares between May 21 and 28. The provident fund is the second biggest shareholder with 123.9 million shares, or 8.78% equity interest.

Over at Bioalpha Holdings Bhd, major shareholder Hon Tian Kok @ William bought 4.85 million shares on May 30, which raised his shareholding to 144.38 million shares, or 17.8% equity interest, making him the single largest shareholder.

Atta Global Group Bhd’s substantial shareholder Tan Kim Hee bought four million shares on May 28. Tan is the second largest shareholder with 46.5 million shares, or a 22.8% stake, in the metal roofing manufacturer.

The company posted a higher net profit of RM27.57 million for the financial year ended March 31, compared with RM18.02 million in the preceding financial year. Revenue grew nearly 22% to RM155.8 million versus RM127.9 million the year before. Earnings were boosted by other operating income due to a gain on fair value of investment property amounting to RM21 million in the fourth quarter.

Meanwhile, at Fitters Diversified Bhd, substantial shareholder Datuk Wong Swee Yee bought an additional 1.12 million shares, raising his stake to 138.24 million shares, or 30.96% equity interest.

MY E.G. Services Bhd — whose share price has been battered since the election amid concern over its prospects of getting new e-government service contracts — saw controlling shareholder, Asia Internet Holdings Sdn Bhd, buy some 10 million shares on the open market on May 28.

Managing director Wong Thean Soon, who is also a major shareholder, bought 1.5 million shares. Asia Internet Holdings is Wong’s investment vehicle.

Kumpulan Wang Persaraan (Diperbadankan), or KWAP, sold 15 million shares and ceased to be a substantial shareholder.

To stem the fall of the share price, MyEG has started a share buyback scheme, buying back some seven million shares on the open market on May 28 and 30.
 

Notable movements

YTL Power International Bhd’s share price skidded to 75 sen on May 24 — the lowest level since Nov 26, 2004. Apart from the absence of fresh catalysts to whet investors’ appetite for the stock, news that the Pakatan Harapan government has decided to abort the KL-Singapore high-speed rail project further dampened the share price.

Bursa filings show that company director Datuk Yeoh Seok Hong has been mopping up shares on the open market while the share price drifted lower. Seok Hong bought 15.36 million shares in YTL Power on May 28 and 30. The purchases bumped up his shareholding to 95.03 million shares, or a 1.3% stake, in the power generation firm.

His older brother, Tan Sri Dr Francis Yeoh Sock Ping, bought two million shares on May 30, giving him a 0.27% stake. In addition, Yeoh Tiong Lay & Sons Holdings Sdn Bhd acquired 8.11 million shares on May 25 and 28. It holds a direct interest of 9.53%, or 755.67 million shares, while it controls an indirect stake of 53.44%, or 4.99 billion shares, through YTL Corp Bhd.

Imaspro Corp Bhd appears to be bucking the current cautious market sentiment. The stock hit a record high of RM2.35 on May 22 and settled at RM2.18 last Thursday.

Its second largest shareholder, Yu Kuan Chon, bought 761,000 shares between May 28 and 31. Yu, who made his name blocking the privatisation exercise of Hong Leong Capital Bhd, holds 17.28 million shares, or 21.6% equity interest, in the agricultural chemicals manufacturer.

It slipped into the red with a net loss of RM260,000 for the third financial quarter ended March 31, compared to a net profit of RM1.57 million a year ago. The loss was attributed to the increase in raw material cost and lower selling prices, plus its share of loss of an associate company. Revenue, however, grew to RM18.79 million during the quarter, from RM16.36 million a year ago.