Insider Moves: AE Multi Holdings Bhd, Diversified Gateway Solutions Bhd, CME Group Bhd, Tafi Industries Bhd, Eastland Equity Bhd, Parlo Bhd

TheEdge Tue, Sep 29, 2020 02:00pm - 7 months ago

Notable filings

BETWEEN Sept 7 and 11, notable shareholding changes in companies listed on Bursa Malaysia included that at AE Multi Holdings Bhd, a manufacturer of printed circuit boards.

ACE Credit (M) Sdn Bhd ceased to be a substantial shareholder of the company after disposing of 77.856 million shares or an 18.184% stake off market on Sept 7.

Penang-based AT Precision Tooling Sdn Bhd is believed to be the buyer of that block of shares, as it emerged as a substantial shareholder of AE Multi with an 18.184% stake on the same day. AT Precision Tooling is a wholly-owned subsidiary of ACE Market-listed AT Systematization Bhd.

Two days later, Yee Yit Yang — the newly appointed independent non-executive director of AE Multi — divested 1.5 million shares, or a 0.35% stake, at 20 sen apiece. The 53-year-old still owns 14.5 million shares or 3.388% equity interest in the company.

Technology solutions provider Omesti Bhd has ceased to be a shareholder of ACE Market-listed Diversified Gateway Solutions Bhd (DGS) after disposing of 40.14 million shares or a 5.38% stake in the latter. The group sold the shares in two blocks totalling 578,000 and 39.561 million units respectively on Sept 8.

In a separate filing, Omesti said its wholly-owned subsidiary, Omesti Holdings Bhd, had on Aug 7 and Sept 8 disposed of 42.14 million shares or a 5.65% stake in DGS on the open market for RM6.34 million, which works out to an average of 15.05 sen apiece.

Omesti said the disposals will raise gross proceeds of RM6.34 million, which will be immediately utilised to pare down the group’s borrowings and for working capital such as payment to trade and other creditors, salaries and other operating expenses.

Jewel View Sdn Bhd is no longer a substantial shareholder of loss-making fire-fighting equipment and fire engines manufacturer CME Group Bhd after offloading 10.878 million shares or a 1.79% stake on the open market on Sept 11.

Jewel View first surfaced as a substantial shareholder of CME Group in June 2013, after subscribing for 36 million shares at 10 sen each via a private placement. The company ceased to be CME Group’s substantial shareholder in March 2016, before resurfacing as one in June 2017.

Furniture maker Tafi Industries Bhd saw the emergence of Armani Synergy Sdn Bhd as its controlling shareholder with 39.512 million shares or a 51.01% direct stake.

Armani Synergy, which is ultimately co-owned by Datuk Seri Andrew Lim Eng Guan, Datuk Seri Wong Sze Chien and Datuk Seri Azlan Azmi, acquired the controlling stake via a direct business transaction on Sept 3.

Meanwhile, Datuk Seri Saw Eng Guan and Terk Yew Tee are no longer substantial shareholders of the company after disposing of 20.971 million shares on Sept 3 and 3.905 million shares on Sept 4 respectively.

Notable movements

Eastland Equity Bhd’s share price has jumped 87.5% year to date, closing at 15 sen last Tuesday to give the company a market capitalisation of RM48.6 million. The stock has rebounded from its 52-week low of 3.5 sen on March 19.

Chung Vei Kiun ceased to be a substantial shareholder of the company after disposing of 3.2 million shares or a 0.98% stake on the open market on Sept 4.

Eastland Equity is an investment holding company with core businesses in hospitality, investment properties and property development. Its portfolio includes The Grand Renai Hotel and Kota Sri Mutiara shopping complex in Kota Baru, Kelantan.

ACE Market-listed Parlo Bhd, which is involved in leisure travel management and the handling of meetings, incentives, conferences and events, saw its share price skyrocket 193% year to date, closing at 42.5 sen last Tuesday to give it a market capitalisation of RM154.7 million.

According to Parlo’s filing with Bursa on Sept 8, Thirty Keystone Sdn Bhd divested 78.014 million shares or a 21.43% stake in the company between Sept 4 and 7 via direct business transactions.

Thirty Keystone sold another 500,000 shares on Sept 10. To date, it still owns 131.019 million shares or a 35.99% stake in Parlo.

Related Stocks

AEM 0.070
AT 0.090
BURSA 8.200
CME 0.050
DGSB 0.160
OMESTI 0.470
PARLO 0.280
TAFI 0.630


Login to comment.