Notable filings

BETWEEN Oct 19 and 23, notable filings with Bursa Malaysia included that by Acme Holdings Bhd, which saw Woo Kim Siong emerge as a substantial shareholder after acquiring 20 million shares, or a 6.5% stake in the company. Acme’s Oct 20 announcement came four days after the acquisition by Woo on Oct 16.

A manufacturer of plastic and wooden audio speaker systems,  Acme also manufactures home and houseware products, including kitchenware and toys.

On Oct 16, its share price closed 78% higher than the previous trading day’s 68 sen, prompting an unusual market activity query from Bursa. It is worth noting that the company had just completed a private placement exercise on Oct 12.

Over at Ho Wah Genting Bhd, Ho Wah Genting Holdings Sdn Bhd disposed of 110 million shares in the company during the period in review. The listed entity also saw the emergence of a new substantial shareholder, Chinese national Zhang Yong, through ZY Sales & Distribution Sdn Bhd, which acquired 90 million shares, equivalent to a 17.09% equity interest in the company.

Ho Wah Genting has been riding the Covid-19 vaccine wave since March, and has been making numerous announcements over the past seven months on a number of proposed ventures related to a vaccine.

Previously a penny stock, its share price hit a year-to-date high of RM1.29 on Aug 11. But it has since been on the decline and the counter ended trading last Tuesday at 76 sen.

During the period in review, XOX (HK) Ltd raised its stake in Macpie Bhd by 13.94 million shares and now owns 13.11% of the company.

XOX (HK) is a subsidiary of XOX Bhd, which is listed on the ACE Market. It first emerged as a shareholder in Macpie after acquiring a 5.66% stake or 20 million shares in the group on Oct 2.

Macpie is involved in retail and distribution management, as well as event management.

At SMTrack Bhd, Lim Shuou Ghay, who acquired 23.44 million shares, or a 10.2% stake in the company through a private placement on Aug 14, has ceased to be a substantial shareholder after disposing of 12.52 million shares during the week in review.

The company, which recently embarked on a private placement exercise of up to 30% of the total number of issued SMTrack shares, is now proposing to undertake the issuance of redeemable convertible notes with an aggregate principal amount of up to RM120 million, maturing 60 months from the closing date.

A Radio Frequency Identification (RFID) solution specialist, SMTrack is also proposing to diversify its principal activities to include the business of commercial air transport operations.

Notable movements

Metronic Global Bhd’s share price has fallen a total of 54% between Oct 13 and 26, from 11 sen to five sen. The company’s share price had risen substantially since April 28, when it was trading at two sen, to hit a high of 11 sen on Oct 13.

Substantial shareholder Cita Realiti Sdn Bhd disposed of 85.5 million shares in the company, paring its stake to 11%.

In September, Metronic Global announced that it had established a new subsidiary, Metronic Medicare Sdn Bhd, whose proposed principal activities are distributing medical-related products such as whole body disinfectant systems, Covid-19 swab test kits, Covid-19 first aid boxes and AI temperature measure systems.

Metronic Medicare also seeks to venture into other medical-related business through partnerships and collaborations.

Over at Techfast Holdings Bhd, its share price dropped 15.6% between Oct 19 and 23, from 51 sen to 43 sen. AVB Ventures Sdn Bhd ceased to be a substantial shareholder of the company after it disposed of 26.34 million shares during the period in review.

Involved in the electrical and electronic industry, Techfast recently saw a change in its boardroom. Managing director Yap Yoon Sing resigned on Oct 19 and his replacement has not been named to date.

But three new directors have been appointed, namely Datuk Nur Jazlan Mohamed as independent non-executive director, Tan Wye Chuan as executive director and Ang See Ming as independent non-executive director.