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.
Stock with positive momentum was:
SWS Capital Bhd up three sen at 78 sen
Stocks with negative momentum were:
Jiankun International Bhd down 10.5 sen at 58 sen
Lion Industries Corp Bhd up 5.5 sen at 58.5 sen
PIE Industrial Bhd up 16 sen at RM2.36
Scope Industries Bhd up 2.5 sen at 32 sen
Seni Jaya Corp Bhd up two sen at 94 sen
Sinmah Capital Bhd up eight sen at 47.5 sen
Southern Steel Bhd up four sen at 79 sen
Versatile Creative Bhd up 10 sen at 82 sen
WMG Holdings Bhd up 3.5 sen at 18.5 sen
The list of stocks with momentum is generated using a proprietary mathematical algorithm highlighting stocks with a build-up in trading volume and price. The algorithm differentiates between stocks that exhibit positive (+ve) momentum and negative (-ve) momentum.