FTSE Bursa Malaysia KLCI (^KLSE) 1,646.53 14.83 (0.90%)
updated at: Wed, 09 Dec 2020, 05:25PM MYT

Insider Moves: GPA Holdings Bhd, Melati Ehsan Holdings Bhd, Wah Seong Corp Bhd, Kejuruteraan Asastera Bhd, Gets Global Bhd, Iconic Worldwide Bhd

Original Source From TheEdge Publish at Tue, 15 Sep 2020, 02:00AM

Notable filings

FROM Aug 24 to 28, notable shareholding changes took place in several listed companies on Bursa Malaysia, includingGPA Holdings Bhd, in which Galaxy Coast Ventures Ltd acquired a block of 277.65 million shares, or a 28.32% stake, from Tan Sri Tan Hua Choon.

In line with the disposal, Tan resigned as GPA non-executive chairman on Aug 26. Datuk Thor Poh Seng, Ou Wee Sun and Lee Yu-Jin also stepped down from the board. They were replaced by Tang Boon Koon, Khoo Chee Siang and Koo Kien Yoon.

Recently, The Edge reported that Datuk Eddie Ong Choo Meng had bested data centre operator Regal Orion Sdn Bhd and is now in final talks to wrest control of GPA.

GPA, which is involved in battery manufacturing, posted a 61.7% drop in net profit to RM69,000 for the first quarter ended June 30.

During the week under review, Urusharta Jamaah Sdn Bhd divested five million shares, or a 4.22% stake, inMelati Ehsan Holdings Bhdand ceased to be a substantial shareholder of the construction firm.

Melati Ehsan’s net profit fell to RM799,000 for the nine months ended May 31, from RM1.19 million in the previous corresponding period, as its operations were affected by the Movement Control Order (MCO).

Amanahraya Trustees Bhd — Amanah Saham Bumiputera ceased to be a substantial shareholder ofWah Seong Corp Bhdafter disposing of 530,800 shares, or a 0.07% stake, in the pipe coating firm.

Wah Seong was in the red for the six months ended June 30, with a net loss of RM74.06 million against a net profit of RM39.44 million in the same period a year ago, owing to losses in the oil and gas, and industrial trading and services segments.

Over atKejuruteraan Asastera Bhd(KAB), Kington Tong Kum Loong sold 20 million shares, or a 2.16% stake, and ceased to be a substantial shareholder of the company.

KAB, which is involved mainly in the provision of electrical engineering services, was transferred to the Main Market from the ACE Market on Aug 28.

For the six months ended June 30, its net profit slumped 62.5% to RM1.59 million, from RM4.24 million in the previous corresponding period, as construction activities were halted during the MCO period.

Notable movements

AtGets Global Bhd, Teong Lian Aik bought 40.16 million shares, or a 31.87% stake, and emerged as a new substantial shareholder of the express bus operator.

In contrast, Arca Corp Sdn Bhd ceased to be a substantial shareholder after divesting 30.24 million shares, or 24% equity interest, in the company.


updated at: Fri, 29 May 2020 MYT
Participation (%)
Bought (MYR)
Sold (MYR)
Net
Foreign
( 24,36 % )
2.31 B 2.23 B 77.37 M
Local Institution
( 39,38 % )
3.66 B 3.67 B 0.00 B
Local Retail
( 36,26 % )
3.34 B 3.41 B -0.07 B