CIMB

Notable filings From Aug 29 to Sept 2, notable filings by Bursa Malaysia-listed companies included those from Ivory Properties Group Bhd.

During the week under review, the EPF bought 6.2 million shares to increase its stake to 10.64%. CIMB shares are down about 1% YTD as the counter closed at RM5.40 on Sept 7. AMMB has also bought back its shares, spending almost RM13.2 million to acquire 3.26 million shares from Aug 19 to Sept 6. Filings show the Employees Provident Fund (EPF) continued to mop up shares in the country’s fifth largest bank by assets. After second-quarter earnings (released Aug 30) beat estimates, Maybank Investment Bank Research, for example, upgraded its call on CIMB to “buy” from “hold” and raised its target price by 15% to RM6.20. In early July, the EPF had 16.44% equity interest in the country’s third largest lender. Filings show the EPF paring some shares in CIMB Group Holdings Bhd. Pertama Digital, which did not win a digital bank licence from Bank Negara Malaysia in April, in late June told reporters that it was in talks with five banks to select a partner to set up the country’s first neobank. About 68.24 million shares were sold at 4.5 sen each while 5.08 million shares were sold at half a sen each, an Aug 30 filing shows. The buyer is likely Datuk H’ng Choon Seng, managing director of Heng Huat Resources Group Bhd. Founder Datuk Low Eng Hock, who is also the single largest shareholder, sold 73.32 million shares, or a 14.96% block, in the Penang-based property development company on Aug 30 for just under RM3.1 million in an off-market transaction. The single largest shareholder of Heng Huat, H’ng owns just over 25% of the Penang-based company that manufactures and trades biomass materials.