Notable filings

FROM April 6 to 10, notable changes in shareholding included that at IT infrastructure and teleconferencing company Digistar Corp Bhd.

Digistar founder and managing director Mejar (K) Datuk Wira Lee Wah Chong acquired 65.096 million shares or an 8.33% stake in the company for RM1.3 million on April 3. This increased his total holding to 204.65 million shares or 26.2%.

The shares were acquired at two sen apiece — a premium of 3.09% to the five-day volume weighted average price of Digistar shares of 1.94 sen up to and including March 27.

Lee’s acquisition made up half of a private placement exercise involving 130.2 million Digistar shares. The other half of the placement is to be taken up by a third-party investor, to be identified at a later date.

Over at construction outfit DWL Resources Bhd, Sim Chiun Wee emerged as a substantial shareholder after acquiring 15 million shares or a 6.44% stake on April 7.

The shares were acquired via Sim’s private vehicle, Montagna Management Sdn Bhd. Following the acquisition, Montagna has 23 million shares or a 9.9% stake in the company, making it DWL’s second largest shareholder.

According to DWL’s 2019 annual report, the group’s two major shareholders are its executive director Datuk Seri Aminul Islam Abdul Nor, who has a 25.6% stake via Greenfield Hills Sdn Bhd, and executive chairman Datuk Wan Khalik Wan Muhammad, who has 8.53% equity interest through Total Sejati Sdn Bhd.

Public listed construction firm Gadang Holdings Bhd is also listed as a substantial shareholder of DWL with an 8.6% stake.

Meanwhile, Ho Wah Genting Holding Sdn Bhd, the largest shareholder of Ho Wah Genting Bhd, acquired 23.25 million shares or a 4.6% stake in the company during the week in review, raising its holding to 120.7 million shares or 23.87%.

Ho Wah Genting Holding is the vehicle of Ho Wah Genting CEO Datuk Lim Ooi Hong and his brother Lim Wee Kiat, who is Ho Wah Genting’s executive director.

The group announced last month that it intends to diversify from its core businesses of manufacturing and trading of wires and cables, travel agency and tour-related services to include a healthcare-related venture, due to the Covid-19 outbreak.

Over at Minetech Resources Bhd, Datuk Awang Daud Awang Putera acquired 28.8 million shares or a 3.13% stake in the quarry and construction outfit.

Awang, who is the co-founder of oil and gas company Serba Dinamik Holdings Bhd, has been accumulating shares in Minetech since emerging as a substantial shareholder on Feb 11. He now controls a 21% stake in Minetech, and was appointed executive chairman of the group on March 31.

Notable movements

The share price of Puncak Niaga Holdings Bhd gained 13% to close at 18 sen on April 10, from 16 sen on April 6. Urusharta Jamaah Sdn Bhd, the Ministry of Finance’s special purpose vehicle, ceased to be a substantial shareholder of Puncak Niaga after disposing of 12.2 million shares or a 2.7% stake during the week in review.

Urusharta Jamaah first emerged as a substantial shareholder of Puncak Niaga on Dec 28, 2018, when it took over 44.07 million shares or a 9.85% stake in the company from Lembaga Tabung Haji.

Year to date, Puncak Niaga’s share price has declined 42%, ending last Wednesday at 18.5 sen.

Meanwhile, shares of construction outfit WCT Holdings Bhd rose 9% to 43 sen on April 10, from 39.5 sen on April 6.

During the same period, the Employees Provident Fund disposed of 19.39 million WCT shares, or a 1.39% stake, and ceased to be a substantial shareholder of the company.

Year to date, the counter has declined 47%, closing at 45.5 sen last Wednesday.