Notable filings

NOTABLE changes in shareholding during the week of Nov 14 to 18 included that at Inari Amerton Bhd. Kumpulan Wang Persaraan (Diperbadankan), or KWAP, ceased to be a substantial shareholder in the electronics manufacturing services company after it disposed of 2.07 million shares, or 0.21% equity interest, on the open market.

KWAP had been a substantial shareholder in Inari Amertron since mid-April last year, when it first surfaced with a 5.02% stake. Since then, the counter has gained almost 25%, closing at RM3.38 last Wednesday. In mid-August, KWAP had 7.73% equity interest or 74.03 million shares.

Inari Amertron announced an interim dividend of 2.3 sen per share and a special dividend of 0.7 sen per share. The dividends go ex on Dec 13 and an entitlement date of Dec 15.

At Cam Resources Bhd, Goh Yok Tek, surfaced as a substantial shareholder with 16.2 million shares, or 8.43% equity interest, after purchasing 14 million shares in the company.

Goh bought the shares from Cam Resources’ managing director Tan Hong Cheng on Nov 7. Tan trimmed his shareholding to 12.53% or 24.12 million shares.

The share price has been volatile and the counter has traded at 27 sen to 39 sen over the past year. It closed at 31 sen last Wednesday.

The company is mainly involved in the manufacturing, trading and distribution of kitchenware and sinks.

Felda Investment Corp Sdn Bhd (FIC), a unit of the Federal Land Development Authority, disposed of 4.49 million shares in Iris Corp Bhd, trimming its stake to 486.94 million shares or a 21.67% stake.

FIC had subscribed for 394.1 million new shares in Iris at 28 sen apiece worth a total of RM110.30 million, in November 2013 and acquired 132.27 million shares from Perbadanan Nasional Bhd for 26 sen apiece or RM34.39 million at about the same time. Collectively FIC controlled 526.37 million shares or 26.71% in Iris before the recent disposals.

Since February, FIC has been selling blocks of Iris at 16.5 sen to 20 sen, which would indicate that it is selling at a considerable discount to its entry price.

Iris ended trading last Wednesday at 14.5 sen.

At Metronic Global Bhd, Tan Lay Yong ceased to be a substantial shareholder after selling 15 million shares and reducing her shareholding to below the 5% threshold requiring disclosure.

She first surfaced as a substantial shareholder in February, after the purchase of 6.5 million shares, nudging her shareholding up to 40.88 million shares or a 5.39% stake.

Metronic closed at eight sen last Wednesday.

Notable movements

Stockbroking and property outfit TA Enterprise Bhd’s shares hit 45 sen earlier this month — the lowest since December 2012.

Chairman Datuk Tony Tiah Thee Kian has been accumulating the stock as the share price continued to drop. During the week in review, he accumulated 4.55 million shares, nudging up his shareholding to 540.02 million shares, or 31.54% equity interest.

He started accumulating the stock earlier in November when he had a 31.04% stake or 531.37 million shares. TA Enterprise ended trading last Wednesday at 46.5 sen.

Since mid-September, YTL Corp Bhd’s shares have shed more than 12% of their value, closing at RM1.52 last Wednesday. Prior to the recent dip, YTL Corp’s stock had hit RM1.72, its highest level since early 2013.

During this period of weakness, the Employees Provident Fund, has been mopping up YTL Corp shares. During the week in review the retirement fund was actively trading the shares, acquiring 12.42 million shares and increasing its shareholding to 742 million shares or 7.05% equity interest. 

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