Notable filings

Notable changes in shareholding during the week of Feb 28 to March 4 included those at Boustead Plantations Bhd, where its parent company — the armed forces fund, or Lembaga Tabung Angkatan Tentera (LTAT) — trimmed its direct shareholding by 4.75 million shares to 266.21 million shares, or 11.88% equity interest.

A check on Bursa Malaysia’s website indicates that, prior to this sale, LTAT had not sold shares in Boustead Plantations ever since the plantation company’s shares were floated in June 2014. Other than a direct stake, LTAT also has an indirect 57.42% equity interest in Boustead Plantations, via its 59.42%-owned unit Boustead Holdings Bhd.

Boustead Plantations manages 45 oil palm estates, 19 of which are in Peninsular Malaysia, 20 in Sabah and six in Sarawak, spanning 98,200ha in total. The company also has 10 mills.

Last Tuesday, Boustead Plantations closed at RM1.08, translating into a market capitalisation of RM2.37 billion.

The Employees Provident Fund (EPF) acquired 39.99 million shares in credit information provider CTOS Digital Bhd during the week in review, nudging its shareholding up to 117.84 million shares, or 5.36%, and resulting in its being a substantial shareholder.

British Virgin Islands-registered Inodes Ltd snapped up 1.8 million shares in CTOS, strengthening its shareholding to 696.92 million shares, or 30.17% equity interest. Inodes is the vehicle of private equity outfit Creador.

CTOS’ initial public offering (IPO) at RM1.10 a share in July 19 last year raised RM1.2 billion, making it the largest IPO of 2021. The stock ended trading last Tuesday at RM1.35, valuing the company at RM3.12 billion.

At FCW Holdings Bhd, Ong Wee Shyong, who has been a substantial shareholder of the company since January 2008, sold out of the property development and contract manufacturing outfit when it disposed of 2.5 million shares in an off-market deal.

FCW is controlled by businessman Tan Sri Robert Tan Hua Choon, who has 30.61% equity interest in the company.

Last Tuesday, FCW closed at RM1.04, giving the company a market value of RM259.99 million.

Privately held Goldpeace Corp Sdn Bhd sold 24.89 million shares in furniture maker Sand Nisko Capital Bhd and ceased to be a substantial shareholder. It is not clear who is behind Goldpeace Corp.

Meanwhile, Datuk Seri Sow Chin Chuan and his family sold 43.93 million shares in Sand Nisko, trimming their stake to 31.34 million shares, or 13.53%.

During the week in review, Mayapada Capital Sdn Bhd — the vehicle of Datuk Goh Soo Wee and Teh Kok Liang — surfaced as a substantial shareholder in Sand Nisco, with 19.49% equity interest, or 45.17 million shares.

Sand Nisco closed last Tuesday at 55 sen, giving it a market capitalisation of RM125.13 million.

Notable movements

At end-February, Padini Holdings Bhd’s stock hit a two-year high of RM3.37, after gaining 21.22%, or 59 sen, over the last three weeks of the month.

The run in Padini’s stock can be attributed to a good set of financials announced in the later part of February. For its second quarter ended December 2021, Padini announced a net profit of RM60.89 million, from RM427.17 million in sales. For the corresponding period a year ago, Padini chalked up a net profit of RM10.65 million on the back of RM245.96 million in revenue. In contrast to last year, Padini also announced a second interim dividend of 2.5 sen this time around.

During the period in review, Kumpulan Wang Persaraan (DiPerbadankan), or KWAP, hived off 1.14 million shares in the garment company, reducing its shareholding to 50.83 million shares, or 7.73%. The EPF trimmed its stake by 449,700 shares, to 37.39 million shares, or 5.68% equity interest.

Padini ended trading at RM3.30 last Wednesday, valuing the company at RM2.1 billion.

Since end-January this year, power generator Malakoff Corp Bhd has seen its shares shed more than 17%; its stock hit a multi-year low of 58.5 sen on March 7.

During the week in review, the EPF cut its stake in Malakoff by 7.35 million shares to 566.04 million shares, or 11.58%.

Ministry of Finance Inc-controlled Urusharta Jamaah Sdn Bhd sold 5.05 million shares in the company, reducing its stake to 484.81 million shares, or 9.92%.

Malakoff closed last Wednesday at 60 sen, valuing it at RM2.9 billion.