Markets
New major shareholder in AE Multi
Johnny Loh 
Goh divested a 4.69% stake in Compugates after selling 100 million shares
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JF APEX Securities Bhd’s deputy managing director Lim Teck Seng has emerged as the second largest shareholder in AE Multi Holdings Bhd.

A filing with Bursa Malaysia on Aug 10 reveals that Lim acquired 18.46 million shares or a 6.17% stake in AE Multi via an off-market trade.

Lim is also the non-executive director of O&C Resources Bhd and Asia Poly Holdings Bhd.

AE Multi manufactures and sells printed circuit board and related products. For its first quarter ended March 31, the company’s net profit contracted 96.52% to RM43,000 from RM1.24 mil in the preceding year’s corresponding period.

The contrast in profit was mainly due to a RM1.13 mil bad debt recovery in the preceding year’s corresponding quarter. The counter closed at 17.5 sen on Aug 10, down 0.5 sen from 18 sen a month ago.

Elsewhere, filings with Bursa from Aug 8 to 10 saw the largest shareholder of Compugates Holdings Bhd, Goh Kheng Peow, divesting 100 million shares or a 4.69% stake in the company. Post-disposal, Goh, who is also the company’s managing director, trimmed his stake in the company to 11.74% from 16.43%.

Compugates engages in the trading, marketing and distribution of imaging, and information communication and technology-based products. For its Q1 ended March 31, the company’s net loss widened to RM1.93 mil from RM1.38 mil in the same quarter of the previous year.

The higher net loss was mainly due to a decrease in revenue contribution by its Malaysian subsidiaries and de-consolidation of its international subsidiaries. This is further compounded by the challenging market environment which causes lower consumer spending and a slump in both sales and purchases during the quarter.

The counter closed at three sen on Aug 10, down one sen from four sen a month ago.

According to filings with Bursa on Aug 7 and 9, Maxwell International Holdings Bhd’s largest shareholder, Li Kwai Chun, sold 10 million shares or a 2.51% stake in the company. Post-disposal, Li, who is also the non-executive director, reduced her stake in the company to 55.82% from 58.33%.

Maxwell International is involved in the design, manufacture, and sale of sports shoes. For its Q1 ended March 31, the company posted a net loss of RM1.71 mil compared to a net profit of RM22.88 mil in the preceding year’s corresponding quarter.

The loss was mainly attributed to no posting of revenue given the main original equipment manufacturer/original design manufacturer had ceased operation in the previous year due to challenging manufacturing business environment in China.

The counter closed at one sen on Aug 10, down two sen from three sen a year ago.

This article first appeared in Focus Malaysia Issue 245.