Notable filings

Notable shareholder changes at Bursa Malaysia-listed companies for the week of April 4 to 8 include those at timber manufacturer NWP Holdings Bhd.

Datuk Chang Huan Soon ceased to be a substantial shareholder of the company after selling 900,000 shares, or a 0.17% stake, in a series of disposals since March 5, 2021.

Chang surfaced as a substantial shareholder in NWP on July 16, 2020, after acquiring 34.99 million shares, or an 8.11% stake, in the company.

According to the company’s annual report, Chang held 29.19 million shares, or 5.55% equity interest, in NPW via Maybank Nominees (Tempatan) Sdn Bhd as at June 30, 2021. He was the second-largest shareholder in the company after its former managing director Kee Song Ling, who owned 48.64 million shares, or a 9.24% stake. On March 21, the company announced that Kee and independent non-executive director Yew Onn Chong, who were being sued by the company’s management over alleged fraudulent transactions, had resigned from their posts effective that day.

NWP closed last Wednesday at 25 sen, translating into a market capitalisation of RM128.97 million.

Over at Jerasia Capital Bhd, Yee Jia Cheng continued to raise his stake in the apparel manufacturer and fashion retailer with the acquisition of 900,000 shares, bringing his shareholding to 5.5 million shares, or 6.7% equity interest.

Yee emerged as a substantial shareholder in the Practice Note 17 company on March 14 with the acquisition of 4.59 million shares, representing a 5.59% stake. While it is not known how much Yee forked out for his entry into Jerasia, the stock closed at 0.05 sen on April 6.

Jerasia ended trading last Wednesday at 4½ sen, valuing it at RM4.1 million.

Meanwhile, MMAG Holdings Bhd strengthened its grip on engineering, procurement and construction solutions provider Dynaciate Group Bhd by increasing its shareholding to 30.16%, from 9.92%.

MMAG surfaced as a substantial shareholder in Dynaciate in early March last year, after taking up a private placement of 65.88 million shares, or a 9.92% stake. MMAG recently disposed of its 74.51% stake in MGudang Sdn Bhd to Dynaciate for 180.16 million Dynaciate shares, and accepted an additional 46.87 million shares under a debt settlement agreement, which bumped up MMAG’s stake to the current level.

Dynaciate closed on Wednesday at 11½ sen, giving the company a market value of RM116.55 million. MMAG closed atseven sen, valuing it at RM91.87 million.

Notable movements

In a span of two months — mid-January to March 10 — shares in Kedah-based developer Bina Darulaman Bhd shot up more than 50% to hit a multiyear high of 87 sen.

Since early January, Kemajuan Negeri Kedah (PKNK), the largest shareholder of Bina Darulaman, has been trimming its stake in the company. PKNK held 199.4 million shares, representing an equity interest of 65.6% on Jan 4. During the week in review, it hived off three million shares, or 0.98% equity interest, to reduce its shareholding in Bina Darulaman to 184.4 million shares, or 60.7%.

Bina Darulaman closed last Wednesday at 50 sen, giving it a market capitalisation of RM148.89 million.

Over at TRC Synergy Bhd, deputy group managing director Datuk Abdul Aziz Mohamad disposed of 4.7 million shares, representing a 0.1% stake in the construction outfit, to trim his shareholding to 133.76 million, or 23.38%. It is believed that the shares were acquired by the group’s chief operating officer Datuk Leong Kam Heng and founder and managing director Tan Sri Sufri Mohd Zin.

After the respective acquisitions, Sufri held direct and indirect shareholdings amounting to almost 37% in TRC Synergy; Leong’s stake is pegged at 10.77%.

TRC Synergy ended Wednesday at 35 sen, valuing it at RM168.17 million.