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Insider Moves: Datasonic Group Bhd, Pasukhas Group Bhd, Sapura Energy Bhd, Euro Holdings Bhd, Metronic Global Bhd

TheEdge Tue, Oct 13, 2020 02:00pm - 1 month ago


Notable filings

FROM Sept 21 to 25, notable shareholding changes of companies listed on Bursa Malaysia included that of Datasonic Group Bhd, whose deputy managing director Chew Ben Ben acquired 70.42 million shares from Hallmark Epitome Sdn Bhd — a company linked to him — for RM1 each via a direct business transaction. As a result, Hallmark Epitome ceased to be a substantial shareholder.

Chew, who has been accumulating Datasonic shares over the last few months, now holds a direct interest of 22.37%, or 294.7 million shares, in the company compared with 16.96% as at June 15. Urusharta Jamaah Sdn Bhd is the second-largest shareholder, with a 9.42% stake.

Datasonic recently reported a 66% drop in net profit to RM4.77 million for the first financial quarter ended June 30. This was because its main business — the supply of passports to the Immigration Department — was halted by the implementation of the Movement Control Order to curb the Covid-19 outbreak.

Nevertheless, the e-government service provider’s board declared an interim dividend of 0.5 sen a share for the quarter. Datasonic said its board expects prospects for the coming quarters to be brighter, in line with the national economic recovery phase and new business opportunities.

In early August, the company had proposed a one-for-one bonus issue, involving up to 2.18 billion shares to reward shareholders. It expects to complete the exercise by the fourth quarter of this year.

Meanwhile, Tara Temasek Sdn Bhd ceased to be a substantial shareholder of Pasukhas Group Bhd. Tara Temasek — the private investment vehicle of Pasukhas CEO Wan Thean Hoe and non-independent director Chan Man Ching — disposed of 50.51 million shares, or a 5.64% stake, on Sept 17. Then, on Sept 22, loss-making Pasukhas announced a partnership with BB Energy Sdn Bhd to extract river sand from Pekan, Pahang, for the export market.

Over at Sapura Energy Bhd, Datuk Mohd Anuar Taib emerged as a shareholder after buying 800,000 shares in the company at 12.31 sen apiece on Sept 21, while independent non-executive director Tan Sri Megat Zaharuddin Megat Mohd Nor acquired 500,000 shares at 12 sen each. The counter closed at 12 sen that day. Mohd Anuar and Megat now hold marginal direct stakes of 0.005% and 0.003% respectively in the oil and gas company.

In a bourse filing on the same day, Sapura Energy announced that it had appointed Mohd Anuar as its chief operating officer and CEO designate effective from October. He will take over from president and group CEO Tan Sri Shahril Shamsuddin, who retires upon turning 60 in March next year.

Notable movements

At Euro Holdings Bhd, Ong Kah Hon ceased to be a substantial shareholder when he sold 1.44 million shares in the office furniture manufacturer and property developer on Sept 18. Ong, once its second-largest shareholder, has been paring down his stake since late June.


Euro managing director Datuk Seri Lim Teck Boon acquired 3.2 million shares on the open market in the period under review. He bought 1.7 million shares on Sept 21 at RM1.55 each, and 1.5 million shares on Sept 23 at RM1.54 each. Euro’s share price, which has been on an upward trend since late March and is trading at its highest levels in over five years, ended the day at RM1.58 on Sept 21, up three sen, or 1.9%, from the previous trading day. Some 2.59 million Euro shares changed hands that day, the highest in just under two months. On Sept 23, its share price closed unchanged at RM1.54.

Early this year, SPA Furniture (M) Sdn Bhd, which is owned by Lim and his father, emerged as Euro’s largest shareholder. As at Sept 24, Lim held a direct 7.58% stake, or 20.25 million shares, in Euro and an indirect stake of 63.55%, or 169.86 million shares.

Meanwhile, property tycoon Tan Sri Lee Kim Yew ceased to be a substantial shareholder of Metronic Global Bhd on Sept 24 after disposing of 123.51 million directly held shares in the loss-making company.

On Sept 28, Lee — founder and executive chairman of Country Heights Holdings Bhd — said he would relinquish his role in CHHB on Jan 1, 2021 to pursue his interest in the blockchain space.

MNC Wireless Bhd had acquired 10.3 million Metronic shares on the open market on Sept 21, taking its direct interest in the company to 5%; Cita Realiti Sdn Bhd bought a total of 16.3 million shares on Sept 22 and 23, taking its direct interest to 14.64%; Datuk Seri Pang Chow Huat bought 17.85 million shares on Sept 17, taking his direct stake to 7.77%; and Sanichi Technology Bhd acquired 92.35 million shares on Sept 21, taking its direct interest to 10.2%.

The transactions resulted in active volumes being traded on Metronic’s counter in the period under review, peaking at 398.88 million shares on Sept 21 — the highest in more than five years. The penny stock has been trading at above eight sen, a level it had not breached in more than a year.

 

 






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