Notable filings

BETWEEN March 11 and 15, notable shareholding changes in companies listed on Bursa Malaysia included those at APFT Bhd, a beleaguered flight education and training academy operator classified as an affected listed issuer under Practice Note 17 (PN17) after its shareholders’ equity fell below the 50% threshold.

A filing to Bursa Malaysia on March 13 shows that Seik Thye Kong ceased to be a substantial shareholder of APFT after disposing of his entire 6.41% stake, or 86.07 million shares, via a direct-business transaction on March 5.

The buyer and sales price were not known at press time. Shares of APFT closed at two sen on March 5.

Seik first surfaced as a substantial shareholder of APFT last September after acquiring a 6.05% stake on Aug 23.

Over at construction firm Eversendai Corp Bhd, Koon Yew Yin ceased to be a substantial shareholder after disposing of 26.18 million shares, or a 3.35% stake, on March 14.

Neither the price nor the buyer was disclosed. Eversendai closed at 55.5 sen on March 14.

Following the shares divestment, Koon — co-founder of IJM Corp Bhd — still owns 38.96 million shares, or a 4.99% stake. He emerged as a substantial shareholder on April 28, 2017, following an acquisition of 45.95 million shares, or a 5.93% stake in Eversendai.

Surprisingly, construction outfit Ekovest Bhd is venturing into the oil palm and durian plantation industry. The company surfaced as a substantial shareholder of PLS Plantations Bhd on March 12 with a 23.42% stake, or 76.5 million shares.

Meanwhile, business tycoon Tan Sri Lim Kang Hoo ceased to be a major shareholder of PLS Plantations after selling his stake to Ekovest.

According to the share purchase agreement between Lim and Ekovest, the latter will acquire a 24.23% stake in PLS Plantations from Lim for RM76.5 million. After the sale, he will be deemed interested in PLS Plantations through a 32.37% stake in Ekovest.

Last week, Lim also expressed confidence that PLS Plantations would return to profitability in the financial year ending March 31, 2020 (FY20), driven by increasing palm oil production.

Straits Inter Logistics Bhd managing director and substantial shareholder Datuk Seri Ho Kam Choy has raised his equity interest in the oil trading and bunkering firm from 11.58% to 11.78% after acquiring 1.35 million shares on March 11.

Meanwhile, AmanahRaya Trustees Bhd-Skim Amanah Saham Bumiputera is no longer a substantial shareholder of United Plantations Bhd, after offloading 10 million shares, or a 4.81% stake, on March 13.

Notable movements

IT firm Aturmaju Resources Bhd saw its share price gain 21% year to date to close at 35 sen last Wednesday, for a market capitalisation of RM35.5 million. The stock has almost tripled from its 52-week low of 13 sen on June 6 last year.

Notably, on March 13, CEO Datuk Larry Liew Kok Leong mopped up five million shares or a 4.93% stake in off market, raising his equity interest in the company to 9.39%.

Last week, Aturmaju confirmed that it is in negotiations with a relevant party pertaining to a possible acquisition or collaboration on a solar project worth over RM100 million, following an enquiry from Bursa Malaysia after The Edge reported that Aturmaju sought to acquire a controlling stake in a solar company and that a material announcement could be made any time this month.

AWC Bhd — an engineering services and integrated facilities management firm — saw its share price advance 10% year to date, to close at 76 sen last Wednesday, valuing the company at RM216.3 million.

The Employees Provident Fund (EPF) ceased to be a substantial shareholder of AWC after disposing of 300,000 shares on March 8. Following the shares divestment, the EPF still owns a 4.91% stake in the company.