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Insider Moves: Bermaz Auto Bhd, IJM Corp Bhd, IHH Healthcare Bhd, YBS International Bhd, KPJ Healthcare Bhd, Datasonic Bhd

Notable filings

FOR the week of Aug 9 to 13, notable changes in shareholding at Bursa Malaysia-listed companies included those at Bermaz Auto Bhd, where the Employees Provident Fund (EPF) sold 2.04 million shares to trim its stake to 20.15% or 234.06 million shares. In early June, EPF held 243.25 million shares or 20.94% of the company.

Bermaz is involved in the distribution of Mazda vehicles and parts in Malaysia and the Philippines, and recently took over the distributorship of Peugeot and Kia vehicles. Its share price closed at RM1.53 last Tuesday, having gained almost 16% since end-May. This gives the company a market value of RM1.78 billion.

Fortuna Gembira Enterpris Sdn Bhd, a unit of construction company Sunway Bhd, emerged as a substantial shareholder of IJM Corp Bhd during the week in review. Earlier this year, Fortuna Gembira acquired 180.25 million shares or 4.95% of IJM Corp amid talk of a corporate exercise between the two listed entities. Sunway’s stake in IJM Corp rose to 5.01% after the latter accumulated 52.54 million treasury shares, following share buybacks from February to Aug 9.

IJM Corp recently hived off a 56.2% stake in IJM Plantations Bhd to Kuala Lumpur Kepong Bhd for RM1.53 billion cash, and has set aside RM800 million for capital management activities, including share buybacks. Last Tuesday, its share price closed at RM1.80, which translates into a market capitalisation of RM6.56 billion.

EPF has been paring down its stake in healthcare provider IHH Healthcare Bhd. It disposed of 5.33 million shares during the week in review to reduce its shareholding to 9.22% or 809.89 million shares. At end-May, the provident fund held 856.87 million shares or 9.76% of IHH.

IHH’s share price had gained more than 13% over the past six months to close at RM5.78 last Tuesday. As a result, the company’s market capitalisation stood at RM50.74 billion.

Datuk Pahamin Ab Rajab has sold 1.07 million shares in YBS International Bhd to reduce his stake to 4.06% or 10 million shares. Pahamin of AirAsia Bhd fame is chairman of the precision engineering outfit.

Substantial shareholder Musharaka Tech Venture Sdn Bhd has also been disposing of its shares in YBS. The former still holds 21.12 million shares or an 8.57% stake in the company, but had 24.5 million shares or 10% equity interest in April.

YBS’ share price has appreciated by almost 39% since end-June. At last Tuesday’s closing price of 43 sen, the company had a market value of RM106 million.
Notable movements

KPJ Healthcare Bhd’s share price hit a multi-year high of RM1.13 on Aug 11. At last Tuesday’s closing price of RM1.09, the company was valued at RM4.85 billion. The counter has gained 18.48% since end-June.

EPF has been selling on strength. During the week in review, it sold 10.22 million KPJ shares, cutting its equity interest to 12.92% or 575.12 million shares. As EPF had 612.12 million shares or 13.76% in KPJ at end-May, it means the provident fund had sold 55 million shares of the healthcare service provider over a span of three months.

There has been talk of KPJ being privatised by parent Johor Corp Bhd, in partnership with private equity firm TPG Capital. Certain quarters say the plan is off the table, but others are adamant that it is still on the cards.

KPJ operates 28 hospitals in Malaysia, two in Indonesia, one in Bangladesh and one in Bangkok, Thailand. It also runs four retirement and aged care facilities (in Kuala Lumpur, Pahang, Sarawak and Brisbane, Australia).

Datasonic Bhd’s share price hit a multi-year low of 44 sen last Tuesday, giving the company a market capitalisation of RM1.28 billion. The stock had fallen more than 28% since end-April.

Minister of Finance Inc-owned Urusharta Jamaah Sdn Bhd has been nibbling at the counter and picked up half a million Datasonic shares during the week in review to raise its shareholding to 8.38% or 241.19 million shares. In late April, Urusharta Jamaah held 235.76 million shares or 8.17% of the company.


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