Insider Moves: Dayang Enterprise Holdings Bhd, Malaysian Bulk Carriers Bhd, Media Prima Bhd, PA Resources Bhd, BIMB Holdings Bhd, UMW Holdings Bhd

TheEdge Tue, Apr 06, 2021 02:00pm - 1 month ago


Notable filings

OVER the week of March 15 to 19, Vogue Empire Sdn Bhd sold 42 million shares, or a 3.63% stake, in Dayang Enterprise Holdings Bhd and ceased to be a substantial shareholder in the oil and gas company. Vogue Empire is the privately held vehicle of Dayang executive deputy chairman Datuk Ling Suk Kiong. The sale leaves Ling with 146.65 million shares, or a 12.67% stake, in Dayang.

According to Bursa Malaysia’s website, Dayang managing director Tengku Datuk Yusof Tengku Ahmad Shahruddin ceased to be a substantial shareholder after selling 25 million shares, or a 2.16% stake, at RM1.37 each on March 15.

While it is unclear who acquired the shares, Ministry of Finance-owned Urusharta Jamaah Sdn Bhd has been mopping up shares in Dayang. It acquired 20 million shares during the week in review, raising its stake in the company to 8.2% or 94.98 million shares.

Since end-January, Dayang’s share price had gained more than 41% to close at RM1.47 last Tuesday, valuing the company at RM1.84 billion.

During the week in review, government-controlled development financial institution Bank Pembangunan Malaysia Bhd (BPMB) hived off 4.8 million shares in Malaysian Bulk Carriers Bhd (Maybulk), trimming its stake to 15.34% or 153.41 million shares in the shipping company.

According to Bursa Malaysia’s website, BPMB has been reducing its stake in Maybulk since late last year, when it controlled 183.94 million shares, or 18.39%, in Maybulk.

Maybulk’s share price had gained more than 57% from early November 2020 to close at 56 sen last Tuesday, giving the company a market capitalisation of RM560 million. Maybulk’s largest shareholder is billionaire tycoon Robert Kuok Hock Nien, who owns 48.46% equity interest via his flagship PPB Group Bhd (14%) and Pacific Carriers Ltd (34.46%).

At Media Prima Bhd, JAG Capital Holdings Sdn Bhd — the privately controlled vehicle of businessman Datuk Johari Abdul Ghani — acquired 38.33 million shares during the week in review to strengthen its hold on the media company, to 168.35 million shares or a 15.18% stake. JAG Capital emerged as a substantial shareholder of Media Prima on March 9, with a 9.89% stake.

Since end-November last year, Media Prima’s share price had gained more than 226% to close at 62 sen last Tuesday for a market value of RM688 million.

Fajarbaru Builder Group Bhd ceased to be a substantial shareholder of aluminium product manufacturer PA Resources Bhd after selling 9.23 million shares during the week in review. The construction and property development company had been a substantial shareholder of PA Resources since November 2012.

PA Resources’ share price had been gaining traction since end-2020 and, following a spike of more than 220%, hit a multi-year high of 56 sen in mid-February. Last Tuesday, the counter closed at 45.5 sen, valuing the company at RM543 million.

 

Notable movements

Banking group BIMB Holdings Bhd hit a 52-week high of RM4.58 on Dec 11 last year. The stock had gained more than 40% since early November 2020 to close at RM4.30 last Tuesday for a market capitalisation of RM7.97 billion.


During the week in review, the Employees Provident Fund (EPF) and state-controlled unit trust outfit Permodalan Nasional Bhd (PNB) disposed of 10.12 million shares and 543,700 shares respectively in BIMB. EPF was left with 226.81 million shares, or a 12.24% stake, and PNB with 93.93 million shares, or 5.07% equity interest. BIMB is 52.97%-controlled by pilgrim fund Lembaga Tabung Haji.

Since mid-February, the share price of auto company UMW Holdings Bhd had gained close to 14% to close of RM3.22 last Tuesday, giving the company a market valuation of RM3.76 billion.

EPF has been actively trading UMW shares and was a net seller during the week in review, reducing its stake by 726,300 shares to 151.9 million shares, or 13%. Amanah Saham Bumiputera, a unit of PNB, sold five million UMW shares, trimming its equity interest to 504.5 million shares, or 43.18%.

 






Related Stocks

BIMB 3.870
BURSA 8.200
DAYANG 1.440
FAJAR 0.835
JAG 0.470
MAYBULK 0.720
MEDIA 0.615
PA 0.505
PPB 18.660
UMW 3.120

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