Notable filings

BETWEEN April 13 and 17, notable shareholding changes in companies listed on Bursa Malaysia included that at Kedah-based precision engineering firm Luster Industries Bhd.

In an April 13 filing with Bursa, Luster Industries says Ng Ngoon Weng surfaced as a substantial shareholder with a 5.657% direct stake, after subscribing for 74.22 million shares via a private placement exercise on April 10. The block of placement shares represents 3.41% of the company’s enlarged share base.

Over at civil engineering and construction firm Gadang Holdings Bhd, the Employees Provident Fund (EPF) ceased to be a substantial shareholder after disposing of three million shares on April 8.

The provident fund still owns 34.117 million shares or a 4.68% stake in Gadang.

In fact, the EPF has been actively divesting and has ceased to be a substantial shareholder in other companies as well. For instance, it is no longer a substantial shareholder of Pos Malaysia Bhd, after offloading 4.94 million shares or a 0.63% stake on the open market on April 10. It, however, remains a shareholder of the postal delivery and courier services company with 34.482 million shares or a 4.405% stake.

The EPF also ceased to be a substantial shareholder of Scicom (MSC) Bhd after divesting 980,700 shares or a 0.27% stake in the technology and business process outsourcing company on April 14.

It is worth noting that the fund had already offloaded 3.676 million shares or a 1.034% stake between April 8 and 10. To date, it still owns 17.74 million shares or a 4.99% stake in the company.

In a phone interview with The Edge Financial Daily this month, Scicom founder and CEO Datuk Seri Leo Ariyanayakam said the company plans to leverage the opportunities available in e-service businesses amid the Covid-19 crisis, given that people are expected to continue to avoid face-to-face meetings in the coming months.

Over at Star Media Group Bhd, the EPF has also ceased to be a substantial shareholder after disposing of 12 million shares or a 1.6% stake on April 9.

A day earlier, the fund had divested 11.1 million shares or a 1.5% stake in the media company, which is ultimately controlled by the Malaysian Chinese Association.

Following the disposal of the stakes, the EPF owns 29.784 million shares or about 4% of Star Media.

The EPF is also no longer a substantial shareholder of WCT Holdings Bhd after selling 7.435 million shares or a 0.53% stake in the construction and property development outfit on April 8. However, it still owns a 4.79% stake in the company.

Major shareholder Tan Sri Desmond Lim Siew Choon mopped up 696,800 shares or a 0.05% stake in WCT on the open market on April 14. He now owns 23.34% of the company.

Notable movements

ACE Market-listed Bioalpha Holdings Bhd saw its share price plunge nine sen or 47% year to date, to close at 10 sen last Wednesday. At the current price, the integrated health supplement company has a market capitalisation of RM85.645 million.

Group founder, managing director and CEO William Hon Tian Kok sold 46.133 million shares or a 5.38% stake on the open market between April 9 and 17. He still owns 56.867 million shares or a 6.64% stake in the company.

LYC Healthcare Bhd saw its share price decline 13% year to date, to close at 26 sen last Wednesday. This translates into a market capitalisation of RM92.39 million for the confinement centre and senior living home operator.

Gunung Resources Sdn Bhd, a wholly-owned subsidiary of locally listed Gunung Capital Bhd, divested 1.293 million shares or a 0.36% stake in LYC Healthcare on the open market between April 10 and 13.

To date, Gunung Resources remains a substantial shareholder of LYC Healthcare with 18.113 million shares or 5.1% equity interest.

LYC Healthcare, previously known as Mexter Technology Bhd, is ultimately controlled by low-profile businessman Dr Lim Yin Chow.