DURING the week under review, Lim Teck Seng emerged as a substantial
shareholder in AE Multi Holdings Bhd (AEM), a manufacturer of printed
circuit boards and cartridge inks, after acquiring 18.46 million shares, or a
6.17% stake, through o-market transactions.
According to the group’s ling with Bursa Malaysia on Aug 10, the
purchase was done on Aug 9 at 17 sen per share. With a 6.17% stake, Lim is
now the second largest shareholder of AEM after Chang Choon Ming, who
owned 15.44% as at June 9.
Lim is also a non-independent, non-executive director at ConnectCounty
Holdings Bhd, in which he owns 15.78 million shares, or 4.9% of its share
Bloomberg data shows 29.65 million of the cable manufacturer’s shares, or
a 9.22% stake, changing hands at 20 sen each through direct deals on Aug
Lim is also the deputy managing director of JF Apex Securities Bhd and a
director of O&C Resources Bhd (OCR), which saw 1.95% of its share base,
or about ve million shares, change hands o-market on Aug 9. The
transactions were completed at 58 sen per share.
On Aug 15, 7.8 million OCR shares or 3.03% of its share base were
transacted o-market through direct deals at 60 sen apiece. The baby
products manufacturer-turned-property developer has not made any
announcement regarding a change of shareholders.
The o-market transactions preceded an announcement on Aug 10 about a
joint-venture agreement entered into by OCR’s subsidiary, O&C Properties
(Kuantan) Sdn Bhd, with Yayasan Pahang for a mixed property
development project worth RM166 million.
At loss-making Ire-Tex Corp Bhd, as much as 13.6% of the protective
packaging products manufacturer’s share base, or about 18.8 million
shares, changed hands on Aug 10 at 16 sen per share.
Singapore-based Elite Cosmo Group Ltd disposed of 8.59 million shares, or
6.2% of its share base, that day. Previously Ire-Tex’s largest shareholder,
Elite Cosmo has been trying to remove seven Ire-Tex directors and appoint
three new ones since April via an EGM. Ire-Tex’s current directors are
suing Elite Cosmo and 19 others, seeking damages for conspiracy to injure,
breach of duty of care towards the directors, and a declaration rejecting
the proposed resolution to remove the seven directors.
The largest shareholder is Oversea Chinese Banking Corp Ltd with 15.7%,
followed by former deputy nance minister Datuk Donald Lim Siang Chai
with a 10% stake. Siang Chai acquired 13.3 million shares on Aug 3,
according to Ire-Tex lings.
On Aug 11, civil engineering outt WZ Satu Bhd (WZS) announced that
Perbadanan Nasional Bhd (PNS) had emerged as its substantial
shareholder after the government-owned fund acquired 22 million shares
or a 6.3% stake via o-market transactions. The transaction price was not
On the same day, WZS’ largest shareholder, Tengku Datuk Seri Uzir
Tengku Ubaidillah, disposed of 10 million shares, or a 2.87% stake, at
RM1.03 per share, the group noted in another ling. As at Aug 15, Tengku
Uzir held 23.9% of WZS’ share base.
Ikhmas Jaya Holdings Bhd’s largest shareholder, Ikhmas Jaya Holdings
Sdn Bhd (IKH), disposed of six million shares, or 1.15% of the engineering
and construction outt, on Aug 10 and 14.