Insider Moves: Pertama Digital Bhd, Kejurute­raan Asastera Bhd, EA Technique (M) Bhd, D’Nonce Techno­logy Bhd, KNM Group Bhd, Ta Ann Holdings Bhd

This article first appeared in Capital, The Edge Malaysia Weekly, on September 6, 2021 - September 12, 2021.
Insider Moves: Pertama Digital Bhd,  Kejurute­raan Asastera Bhd, EA Technique (M) Bhd, D’Nonce Techno­logy Bhd, KNM Group Bhd, Ta Ann Holdings Bhd
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Notable filings

During the week of Aug 23 to 27, Gifted Investments Ltd, the vehicle of Pertama Digital Bhd managing director Pan Ding, sold 50 million shares, or 11.54% equity interest, in the financial technology player, reducing Pan’s stake to 110.12 million shares, or 25.41%.

According to Pertama Digital’s FY2020 annual report, as at early October last year, Pan had 225.12 million shares, or a 51.95% stake, in the company, formerly known as Sinotop Holdings Bhd.

In July, Datuk Abdel Aziz @ Abdul Aziz Abu Bakar ceased to be a substantial shareholder after selling 10 million shares, or 2.31%, in Pertama Digital. The annual report last October shows he held 30.1 million shares, or 6.95%, in the company.

Since mid-May this year, Pertama Digital’s stock has gained close to 31%, and ended trading last Monday at 52 sen, valuing the company at RM225.35 million.

At green technology and energy-efficiency company Kejurute­raan Asastera Bhd (KAB), substantial shareholder Faith Chow Poh Ten sold 14 million shares, or 0.83%, in the company, reducing her stake to 189.52 million shares, or 11.2%.

In early April, KAB’s stock was trading at RM1, but has since shed close to 60% of its value and closed last Monday at 40.5 sen, translating into a market capitalisation of RM702.12 million.

At Johor Corp-controlled EA Technique (M) Bhd, former mana­ging director Datuk Abdul Hak Md Amin sold 1.5 million shares in the oil and gas support services company. Since early May this year, he has disposed of 34.32 million shares and now has 72.18 million shares, or 13.6%, in the company.

In early May, Abdul Hak Amin, who retired at end-2020, held 106.5 million shares, or 20.08%, in EA Technique.

Johor Corp, which has a 50.05% stake in the company, is the only other substantial shareholder.

EA Technique’s stock has shed more than 51% of its value since early April and closed at 9.5 sen last Monday, giving it a value of RM50.4 million.

Singaporean national Toe Teow Heng ceased to be a substantial shareholder in D’Nonce Techno­logy Bhd when he sold 28.21 million shares, or 9.01% equity interest, in the company. D’Nonce’s business involves hard disk drives, electronics and electrical industry and packaging, among others.

Toe has been a substantial shareholder in D’Nonce since December 2019.

D’nonce’s share price fell sharply from 61 sen on Aug 25 to 45.5 sen on Aug 27, after the company announced that it had received an extension of time from the Companies Commission of Malaysia to hold its annual general meeting.

Last Monday, D’Nonce ended trading at 51 sen, giving the company a market value of RM159.69 million.


Notable movements

KNM Group Bhd’s stock hit a 52-week high of 26 sen on Aug 27, up almost 53% over the past month.

During this period, former executive director and CEO Lee Swee Eng sold 18.04 million shares in the company while his wife, Gan Siew Liat, hived off 1.75 million shares.

Following the disposal, Lee has 79.12 million directly held shares, or 2.38%, while Gan has 47.3 million shares, or a 1.42% stake, in her own name. Lee holds an indirect stake of 183.4 million shares, or 5.52%, and Gan has an indirect shareholding of 215.22 million shares, or 6.48%.

Both Lee and Gan have been disposing of shares since the run in the company’s stock price. Lee retired in July last year and Gan stepped down as an executive vice-chairman in end-June this year.

Last Monday, KNM closed at 25.5 sen, valuing it at RM847 million.

Elsewhere, the Employees Provi­dent Fund (EPF) ceased to be a substantial shareholder in timber player Ta Ann Holdings Bhd during the week in review after selling 5.08 million shares.

In early August, Ta Ann’s shares were trading at RM2.53 but have since gained traction, strengthening by a 9% quantum. The EPF had been a substantial shareholder in the company since March 2002.

At its close of RM2.76 last Monday, Ta Ann had a market capitalisation of RM1.23 billion.


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