Notable filings
BETWEEN Jan 11 and 15, notable shareholding changes took place at several companies listed on Bursa Malaysia, including
Bintai Kinden Corp Bhd, a mechanical and electrical engineering firm that is venturing into the healthcare sector by distributing a Covid-19 vaccine in Southeast Asia.
In a Jan 11 filing, loss-making Bintai Kinden said Handal Jayabina Sdn Bhd had ceased to be a substantial shareholder after divesting 15 million shares or a 3.93% stake on the open market on Jan 7. It is worth noting that Melaka-based Handal Jayabina had just emerged as a substantial shareholder on Jan 6.
As part settlement of outstanding debts owed by Optimal Property Management Sdn Bhd, a wholly-owned subsidiary of Bintai Kinden, 31.8 million shares representing a direct stake of 8.32% were issued to Handal Jayabina. Following the divestment on Jan 7, it is estimated that it still holds about 4.39% of Bintai Kinden.
KUALA LUMPUR (Dec 21): Based on corporate announcements and news flow today, companies that may be in focus tomorrow (Dec 22) may include: Mah Sing Group Bhd, Panasonic Manufacturing Malaysia Bhd, Bintai Kinden Corp Bhd, Kejuruteraan Asastera Bhd, Puncak Niaga Holdings Bhd, Greatech Technology Bhd, RHB Bank Bhd, Yi-Lai Bhd, Supermax Corp Bhd, Karex Bhd, ATA IMS Bhd, Fintec Global Bhd, Aeon Credit Service (M) Bhd, Gamuda Bhd, Versatile Creative Bhd and Deleum Bhd.
Mah Sing Group Bhd’s shareholders have given the property developer the greenlight to diversify into rubber glove manufacturing through its subsidiary Mah Sing Healthcare Sdn Bhd. In a virtual extraordinary general meeting today, Mah Sing obtained 99.9962% of votes for the diversification plan to mitigate cyclical earnings from its property development division.
KUALA LUMPUR (Dec 21): The second largest shareholder of Bintai Kinden Corp Bhd, whose share price has seen a roller-coaster ride this year, has sold its entire stake of 50.03 million shares or 14.4% interest in the engineering and construction group.
Nusankota Development Sdn Bhd disposed of its stake in the open market on Dec 16, according to a filing with Bursa Malaysia.
Nusankota Development acquired the stake for RM10.01 million back in March 2017, through a share swap by way of allotment of shares for the acquisition of the entire 100% equity interest in Optimal Property Management Sdn Bhd by Bintai Kinden.
Assuming that Nusankota Development sold the 50.03 million shares at the Dec 16 closing price of 86 sen per share, the total selling price of the stake would be RM43.02 million.