Insider Moves: AWC Bhd, MNC Wireless Bhd, Scanwolf Corp Bhd, Subur Tiasa Holdings Bhd, Khee San Bhd, Gabungan AQRS Bhd, GHL Systems Bhd

TheEdge Tue, Mar 17, 2020 02:00pm - 4 years View Original


Notable filings

BETWEEN Feb 24 and 28, notable shareholding changes in Bursa Malaysia-listed companies included that at AWC Bhd, which saw its group CEO and president, Datuk Ahmad Kabeer Mohamed Nagoor, acquire 1.1 million shares, or a 0.37% stake, at 45.9 sen apiece on the open market on Feb 26. Post-acquisition, Ahmad Kabeer holds 102.78 million shares or a 34.78% stake, making him the largest shareholder in the integrated facilities management and electrical and mechanical engineering services provider.

He had also bought AWC shares in January and last December.

At MNC Wireless Bhd, Chen Huei Ping ceased to be a substantial shareholder after he disposed of 1.5 million shares on the open market on Feb 27.

Chen emerged as a substantial shareholder in the mobile and digital solutions provider with a 9.4% stake on Oct 5 last year, following the conversion of irredeemable convertible preference shares into 105.67 million MNC shares. Since then, he has been paring down his holding. On Feb 4, he disposed of 22.9 million shares or a 2.01% stake and on Feb 10, another 24.75 million shares or a 2.17% stake.

Over at Scanwolf Corp Bhd, Datuk Lai Kok Heng, who was alternate director to the company’s executive director and major shareholder, Datuk Loo Bin Keong, until Sept 10 last year, disposed of 1.28 million shares in the company on the open market on Feb 20. Post-disposal, Lai has 5.59 million shares or a 5.86% stake.

Meanwhile, Loo Run Ho, who was appointed alternate director to Bin Keong on Feb 21, acquired 300,000 shares in the home and office fittings manufacturer and property developer at 14.5 sen apiece, or RM43,500 in total, on Feb 25. This gives him 0.31% equity interest in the company. Run Ho is the son of Bin Keong.

Subur Tiasa Holdings Bhd saw Richard Sandah and Sharifah Rokayah Wan Othman, through Sarawak-based Amat Abadi Sdn Bhd, emerge as substantial shareholders in the wood-based product manufacturer after acquiring 31.77 million shares or a 16.89% stake via a direct transaction on Feb 24.

The two had acquired the shares from tycoon Tan Sri Diong Hiew King @ Tiong Hiew King, who had, through Tiong Toh Siong Enterprises Sdn Bhd, four days prior to Feb 24 acquired the 31.77 million shares in the company. Post-disposal, Tiong holds 72.42 million shares or a 38.5% stake.

Khee San Bhd saw businessman Datuk Dr Ng Meng Kee acquire 500,000 shares or a 0.44% stake in the company on the open market on Feb 27, bringing his stake to 8.74% or 10 million shares.

He has been accumulating shares in the confectionery product manufacturer over the past month, buying three million shares between Feb 18 and 21.

Last December, Khee San announced that troubled London Biscuits Bhd had exited as its shareholder and that it was placing out 94 million new shares, representing 45.1% of the company’s enlarged issued base, to Mamee-Double Decker (M) Sdn Bhd at 25 sen apiece to raise funds to support Khee San’s business operations.

 

Notable movements

During the period in review, Gabungan AQRS Bhd’s share price fell four sen or 3.8% to RM1.01.

Filings with Bursa show that Brahmal Vasudevan, founder and CEO of private equity firm Creador Sdn Bhd, ceased to be a substantial shareholder after disposing of 1.32 million shares in the construction and property company on the open market on Feb 27. Three days earlier, Brahmal had disposed of 470,000 shares, leaving him with 25.8 million shares or a 4.93% stake.

On Feb 24, the Employees Provident Fund also acquired 900,000 Gabungan AQRS shares, bringing its holding to 36.06 million shares or 7.31% equity interest.

Over at GHL Systems Bhd, the payment solutions provider saw its share price drop 3%, from RM1.66 to RM1.61, between Feb 24 and 28.

Its executive vice-chairman, Loh Wee Hian, disposed of 45 million shares in the company off market on Feb 26. Post-disposal, he holds 87.15 million shares or an 11.63% stake.

On the same day, Parantaka Ltd emerged as a substantial shareholder after acquiring 46.18 million GHL Systems shares. The next day, it bought another 1.89 million shares, taking its stake to 6.91% or 51.79 million shares.

 

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.






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