Among the more active counters on Bursa Malaysia for the week of Oct 1 to Oct 5 was LKT Industrial Bhd, whose mainstay is designing and assembling automation equipment. Singaporean juggernaut Temasek Holdings (Private) Ltd, via its unit Accuron Technologies Ltd, acquired some 3.9 million shares or some 5.7% equity in LKT Industrial on the open market, nudging its shareholding up to 39.5%.
Mesdaq Market-listed REDtone International Bhd meanwhile saw its substantial shareholders collectively hive off 22.8 million shares. The sellers include the Kuok group, orginial shareholder Lee Eng Sia and current CEO Wei Chuan Beng. Warisan Jutamas Sdn Bhd emerged as a shareholder with some 25.2 million shares or almost 10% equity in the company. Warisan Jutamas, news reports state, is a vehicle of Mohamed Shah Kadir and Abdul Karim Kadir. REDtone has been having problems issuing its latest financial results due to difficulties in tabulating its accounts in Pakistan.
Construction outfit PECD Bhd's CEO Rosman Abdullah sold off some 10 million shares in the company on the open market, ceasing to be a substantial shareholder. Since late August this year, PECD's stock has shed some 25% of its value.
Silver Bird Group Bhd continued to hog the limelight in the week. For the week in review, Berjaya Group Bhd acquired 18. 7 million shares in the bread maker, pushing its stake up to 14.1%. Pilgrim fund Lembaga Tabung Haji bought an additional 2.1 million shares in Silver Bird, bringing its equity to 23.7%.
UK-based Utilico Emerging Markets Ltd emerged as a substantial shareholder in MY E.G. Services Bhd, buying 6.3 million shares or 5% equity in the company from Edisi Firma Sdn Bhd. Utilico also owns 7.22% of water treatment and supply concession company Puncak Niaga Holdings and 5.07% of Pos Malaysia & Services Holdings Bhd.
Phoenix Spectrum Sdn Bhd, a unit of gaming company Genting Bhd, increased its stake in Landmarks Bhd to 28% after acquiring close to five million shares on the open market. Phoenix Spectrum paid between RM2.77 and RM2.89 for the shares in Landmarks. The property and hotel operator's shares traded between RM2.90 and RM3 over the week.
US-based Mercury Real Estate Advisors LLC acquired some 5.2 million shares in property player Mulpha International Bhd, increasing its shareholding to 68.6 million shares or about 5.5%.
Evermaster Group Bhd also saw some changes in shareholding. Mohammad Hairul Ibiniameen emerged as a substantial shareholder in Evermaster after he acquired almost 3.6 million shares or about 5% in the company.
Over the week, Magnecomp Precision Technology Public Co Ltd emerged as a 10.5% stakeholder in Mesdaq-listed MQ Technology Bhd. The 24.2 million shares in MQ Technology came under Magnecomp Precision Technology's control via the disposal of assets to MQ Technology.
Notable movements
Notable movements
Green Packet Bhd's shares seem to be cooling off after a long spell as a favourite among market watchers and punters. Year to date, the company's shares have shed close to 30% of their value. Despite the current trends, Green Packet has been continuously looking at broadening its horizons, and launched an intelligent software platform, SONbuddy Connect, which enables online and offline peer-to-peer application, via its integrated communications and connectivity framework. For its six months ended June this year, Green Packet posted a net profit of RM23.3 million on the back of RM67 million in sales.
Since its requotation on Bursa Malaysia, Boustead Heavy Industries Corp Bhd (BHIC) has created quite a stir. On its maiden trading day, the company's stock surged to a high of RM3.04 from its reference price of RM1. Since then, interest has been gaining steadily and the share price recently breached the RM5 barrier. BHIC, formerly known as PSC Industries Bhd, underwent a restructuring, and emerged with a healthier balance sheet thanks to a rights issue, which provided RM70 million in working capital. The company has said it may pay out as much as half of its earnings as dividends. BHIC is 65% controlled by Boustead Holdings Bhd, which is the publicly traded arm of the armed forces fund, Lembaga Tabung Angkatan Tentera.
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