Insider Moves: Caely Holdings Bhd, G3 Global Bhd, SCH Group Bhd, Top Glove Corp Bhd, Press Metal Aluminium Holdings Bhd, IGB Bhd

Notable filings

FROM Oct 26 to 30, among the more notable changes in shareholding was that atCaely Holdings Bhd. Managing director Datuk Chua Chin Lai and his wife Datin Fong Nyok Yoon, who is an executive director of the undergarment manufacturer, sold 12.8 million shares or a 6.69% stake to Datuk Ng Chun Hau.

The block of shares was sold at 57 sen apiece or RM7.3 million in total. Through acquisitions on the open market, Ng now has 20.9 million shares or a 10.92% stake in Caely, making him the second largest shareholder. Meanwhile, Chua and Fong have trimmed their holding to 16.27% from 27.58% at end-July.

It is noteworthy that the 57 sen price tag is a 32.56% premium to Caely’s closing price of 43 sen last Tuesday. That would give the company a market value of RM82.26 million.

The stock reached its 52-week high of 80 sen on Aug 4 while it hit its 52-week low of 18.5 sen on March 23.

Over at artificial intelligence outfitG3 Global Bhd, Greenfield Hills Sdn Bhd — the vehicle of Muhammad Qhailiz Norman Aminul Islam — acquired 20.97 million shares during the week in review, strengthening its holding to 79.55 million shares or 16.99%.

Greenfield Hills surfaced as a substantial shareholder in G3 in August with 50.32 million shares or a 10.75% stake.

At its closing price of RM2.45 last Tuesday, G3 had a market capitalisation of RM1.15 billion. From early October, the stock has shed almost 30% of its value.

Interestingly, Greenfield Hills and Muhammad Qhailiz also have a 25.62% stake in KTG Bhd (formerly known as DWL Resources Bhd), which is mainly involved in ceramics, property development, construction and, more recently, money lending.

Pristine Acres Sdn Bhd ceased to be a substantial shareholder ofSCH Group Bhdafter selling its entire holding of 40 million shares or 7.2% in the fertiliser manufacturer and heavy machinery company.

Pristine Acres is the vehicle of businessman Datuk Gan Kong Hiok. Gan and Pristine Acres emerged as substantial shareholders in SCH in early October 2018. Gan is the brother of Tan Sri Gan Kong Seng, who controls Nilai Resources Group Sdn Bhd, a diversified company that was privatised in 2011.

SCH ended trading last Tuesday at nine sen, valuing the company at RM50 million.

The Employees Provident Fund (EPF) has been actively trading shares inTop Glove Corp Bhd,acquiring 25.73 million shares or a 0.32% stake during the week in review and nudging its holding up to 462.05 million shares or 5.67%.

From end-April, the counter has gained close to 250%. It ended trading last Tuesday at RM8.32, giving the glove maker a market value of RM67.76 billion.

Notable movements

The EPF ceased to be a substantial shareholder ofPress Metal Aluminium Holdings Bhdafter selling 5.97 million shares during the week in review. It surfaced as a substantial shareholder with a 5% stake or 202.1 million shares in mid-April and went on to increase its holding to 5.82% or 235.19 million shares at end-July.