FOR the week of September 13-17, notable changes in the shareholding of companies listed on Bursa Malaysia included those of the packaging box maker. Ad Technology Bhd, where AT Systematization Bhd has become a significant shareholder following the acquisition of 81.2 million shares, representing a 25.93% stake. The shares were acquired at 80 sen each, making a total of RM 64.96 million in cash.
Upon acquisition, AT Systematization – which ventured into glove manufacturing last year – entered into an agreement to sell shares with sellers Blackstream Investments Pte Ltd and Scoria Pte Ltd, which now own 21 respectively. , 67% and 4.26% of D’Nonce.
TO KIP Real Estate Investment Trust (KIP REIT), Datuk Eddie Ong Choo Meng has become a major unitholder following the acquisition of 51 million shares, representing a 10.09% stake. Ong, who is executive director of agrochemicals maker Hextar Global Bhd, purchased the stake in the retail-focused REIT through Hextar Rubber Sdn Bhd.
The units were acquired from the estate of the late Datuk Chew Lak Seong and the co-founder and non-independent executive director of KIP REIT, Datuk Eric Ong Kook Liong. Chew, co-founder and former CEO of KIP REIT, passed away on June 25.
More than Mlabs Systems Bhd, which is involved in web conferencing solutions, Netx Holdings Bhd has become a significant shareholder of the company following the acquisition of 80 million shares, representing a 5.5% stake. The shares – acquired through First United Technology Ltd – were purchased for a total of RM 3.62 million, an average of 4.5 sen per share.
The acquisition brought Netx’s total stake in Mlabs to 104.46 million or 7.21% as of September 17. MLabs and NetX have a common director in Tan Sik Eek, who owns 0.08% of the former and 7.25% of the latter.
TO Bhd Green Package, which recently obtained a conditional investment banking license by the Labuan Financial Services Authority, the group’s general manager and CEO Puan Chan Cheong has sold 42.75 million shares, representing a 3.29% stake in the company, September 13. Following the sale, he holds 124.85 million shares, or a 9.6% stake.
Since closing at 47.5 sen on September 13, the share price of Scanwolf Corp Bhd – which is involved in the manufacture of plastic extrusions, vinyl flooring and real estate development – had jumped 26% to 60 sen on Sept. 17.
On September 14, PEG Capital Sdn Bhd became a significant shareholder of Scanwolf, based in Ipoh, following the acquisition of 13.8 million shares, representing an 8.73% stake. PEG Capital is the vehicle of Datuk Seri Dr Sherwin Chew Chen Yee, Founder and Managing Director of the private equity group Potential Excelerate Group Ltd. After the acquisition, Chew’s stake in Scanwolf – held through PEG – amounts to 16 million shares or 10.16%.
The share price of another Ipoh-based real estate developer Tiger Synergy Bhd jumped 25% last week, from four sen on September 13 to five sen on September 17.
Its main shareholder Goh Ching Mun, co-founder of the OldTown Bhd restaurant chain, sold 19.2 million shares, or 0.75% of the capital. As of September 17, his total stake in the company was 251.75 million shares, or 9.8%.
On September 17, Tiger Synergy announced that it had entered into a memorandum of understanding with Razally Affandy Abdul Rahim to purchase a controlling stake in OHGA Yakkyoku (Malaysia) Sdn Bhd. OHGA Yakkyoku, which is involved in the wholesale of pharmaceutical and medical products, has a pharmaceutical master license agreement with OHGA Corp Co Ltd, whose parent company is the Japanese company OHGA Pharmacy Co Ltd.
OHGA Pharmacy operates 109 pharmacies in Japan, mainly in Fukuoka. Tiger Synergy will work with OHGA Pharmacy to establish Malaysia as the hub for OHGA franchise expansion in South East Asia.