Insider movements: Aurora Italia International Bhd, Iskandar Waterfront City Bhd, KTG Bhd, Rohas Tecnic Bhd, Widetech (Malaysia) Bhd, Y&G Corp Bhd

Notable deposits

FROM May 17 to 21, notable changes in the shareholding of companies listed on Bursa Malaysia included those of the jewelry distributor Aurora Italia International Bhd.

During the week under review, public documents showed that Aurora Italia co-founder and director Datuk Wira Louis Ng Chun Hau was increasing his stake in the LEAP-listed company by an additional 128 million shares. , bringing its total direct stake to 257.62 million shares, or 41.15. %.

Aurora Italia also saw the emergence of two major shareholders in Ng Jing Chia and Ng Yan Xun, both children of Chun Hau. Jing Chia owns 128 million shares, or 20.45% of the capital, while Yan Xun owns 64 million shares, or 10.22% of the company.

Their emergence as substantial shareholders follows Aurora’s acquisition of the 100% stake in PG Jewel Sdn Bhd from the trio (Chun Hau and his children) for RM32million in April, which is to be satisfied by the issuance of 320 million new shares in Aurora at an issue price of 10 sen each. The 320 million shares represent 51.11% of the total number of shares issued by Aurora.

More than Iskandar Waterfront City Bhd (IWC), Managing Director of Tiong Nam Logistics Holdings Bhd, Ong Yoong Nyock, is no longer a significant shareholder of the property developer and builder after selling 4.1 million shares on April 26. The deal price was not disclosed, but IWC closed at 48 sen. day.

Ong became a significant shareholder of IWC after acquiring 53.57 million shares, or a 5.82% stake, in a private placement on April 21.

KTG Bhd announced on May 21 that information and communications technology solutions provider MMAG Holdings Bhd has become a significant new shareholder, after acquiring 35 million shares, or a 5.07% stake, in the Free market. As a result of the transaction, the 26.48% shareholder of MMAG, Chan Swee Ying, also became an indirect shareholder of KTG, which is involved in the ceramics and pottery and real estate sectors as well. than in money lending.

During the week in review, Rohas Tecnic Bhd Director Tan Sri Nik Awang @ Wan Azmi Wan Hamzah continued to mop up shares of the utility infrastructure company in the open market.

He bought a total of 3.61 million shares in seven blocks. Prices for the transaction were not disclosed, but Rohas Tecnic’s share price closed between 35 sen and 36 sen during this period.

The transactions bring Wan Azmi’s total direct stake in Rohas Tecnic to 84.21 million shares, or a 17.82% stake. It also held an indirect stake of 26.45%, or 125 million shares, as of May 25.

May 18, Widetech (Malaysia) Bhd announced the emergence of a new major shareholder in MyEG Services Bhd (MyEG) Group Managing Director Wong Thean Shortly after acquiring 4.18 million shares, representing a 9.33% stake, in the precision spring manufacturer and management service provider via off-market transaction on May 12. Wong wiped off another 800,000 shares of Widetech on May 18, bringing his total working interest to 4.98 million shares, or 11.12%. It also holds an indirect stake of 2.96%, or 1.32 million shares.

At the same time, Lim Hian Yu Sdn Bhd ceased to be a significant shareholder of Widetech, following the divestment of 5.5 million shares via an off-market transaction on May 12. The action closed at RM 2.55 that day.

Notable movements

WidetechRM’s stock price rose 23% to RM3 on May 21 from RM2.44 on May 17. The stock has jumped 435% year-to-date, closing at RM3.21 last Tuesday to give the company a market cap of RM143.66 million. It hit a multi-year high of RM4 on May 20.

So far this year, the company has been slapped twice by Bursa Malaysia over the sharp increase in the price and trading volume of its shares. On both occasions, Widetech said he was not aware of any corporate development related to his activities and affairs that could explain the WBU. However, he mentioned the recent emergence of MyEG boss Wong as a significant new shareholder.

The company has slipped in the red for the cumulative nine months ended December 31, 2020 (9MFY2021), with a net loss of RM 2.15 million compared to net profit of RM 1.03 million a year ago , thanks to a provision made. on the amount owed by a partner of RM 2.06 million. 9MFY2020 revenue grew 23% year-on-year to RM 7.92 million. It had yet to release its financial results for 4QFY2021 at the time of writing.

The share price of Y&G Corp Bhd has also seen a significant movement in recent times. The stock is up 111% year-to-date after closing at RM 1.20 last Tuesday, valuing the property developer at RM 262.17 million.

The counter had hit the limit three times in four trading days. From 56 sen on May 12, he hit the 30 sen limit on May 17 and 18 before his trading was suspended for a day. The stock resumed its upward trajectory on May 20, again reaching the limit at 34 sen or 29.31% higher at RM 1.50 – above its net book value of RM 1.35 per share – prompting Bursa to slap him with a UMA the same day. . In response, the company said it was not aware of any reason for the sharp rise in its share price and trading volume.

During the four-day period, its trading volume had ranged from 58,300 to 200,300 shares. Over the past six months, he has averaged 2,400 shares.


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Jennifer Amaro

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