Insider Moves: Perak Transit Bhd, SFP Tech Holdings Bhd, Reservoir Link Energy Bhd, Pentamaster Corp Bhd, VS Industry Bhd

This article first appeared in Capital, The Edge Malaysia Weekly on May 26, 2025 - June 1, 2025Notable filings In the week between May 13 and 16, notable filings of shareholding changes of companies listed on Bursa Malaysia included the disposal of 18.5 million Perak Transit Bhd’s (KL:PTRANS) shares by its largest shareholder and managing director Datuk Seri Cheong Kong Fitt. Cheong disposed of the shares, which represent 1.66% of Perak Transit’s issued shares, on May 13 via off-market transactions. There are no details on Bursa’s website as to who the buyer of the shares is. The disposal reduces Cheong’s stake in the developer of integrated public transport terminals to 16.2% as at May 13, from 17.94% as at May 7. Cheong has been paring down his stake in recent weeks; it stood at 23.4% on March 28. The recent shareholding movements came almost a month after Datuk Eddie Ong Choo Meng ceased to be a substantial shareholder of the group on April 17. Ong’s stake in Perak Transit fell to 4.9% on April 17, after disposing of 16.79 million shares. After Cheong, the second-largest shareholder of Perak Transit is Tan Sri Danny Tan Chee Sing, founder and group executive vice-chairman of Tropicana Corp Bhd (KL:TROP), with a 6.08% stake. Elsewhere, SFP Tech Holdings Bhd (KL:SFPTECH) managing director Keoh Beng Huat disposed of 24.6 million shares, or 1.03% of SFP Tech’s issued shares, through direct business transactions on May 16. The disposal reduces Keoh’s stake in SFP Tech to 64.82%, but he is still the largest shareholder. Since April 2, Keoh has been paring down his stake in SFP Tech, which is involved in the design, development and manufacturing of integrated factory and automated equipment solutions, disposing of a cumulative 74.8 million shares, or 3.12% of the group’s issued shares. At Reservoir Link Energy Bhd (KL:RL), Propel Global Bhd (KL:PGB), which had emerged as a substantial shareholder of the oil and gas well service provider on April 28 after subscribing to 23.46 million private placement units, acquired 12 million shares on May 13. The acquisition increased Propel’s stake in Reservoir Link to 9.83%, from 6.5%, potentially replacing Pansar Bhd (KL:PANSAR) as the second-largest shareholder of the group. As at Sept 20, 2024, Pansar’s stake in Reservoir Link stood at 8.76%, according to its 2024 annual report. Its executive deputy chairman Thien Chiet Chai is the largest shareholder of Reservoir Link, with a total shareholding of 18.95% as at May 19, of which 12.43% was held indirectly through Reservoir Link Holdings Sdn Bhd. Other shareholders of Reservoir Link Holdings include group CEO and managing director Datuk Wan Hassan Mohd Jamil and CEO of Reservoir Link Sdn Bhd Mad Haimi Abu Hassan. Notable movements Shares in Penang-based automated test equipment (ATE) maker and automation house Pentamaster Corp Bhd (KL:PENTA) fell 8.6% in five trading days between May 13 and 19. On May 21, the counter closed at RM2.57, which is still 18.43% higher than a month ago. Norges Bank, the manager of Norway’s government pension fund, ceased being a substantial shareholder of Pentamaster on May 15, after holding the position for less than a month. The bank sold 2.4 million shares, or a 0.34% stake, and also “lent out” another 417,200 shares, or a 0.06% stake. This reduced its total stake in Pentamaster to 4.87%, below the 5% threshold required for substantial shareholder status. Its stake in Pentamaster had peaked at 5.27% on May 5. The share price of electronic manufacturing services provider VS Industry Bhd (KL:VS) fell 6.52% between May 13 and 19 to 86 sen. The counter settled at 84.5 sen on May 21, up 12.67% from the closing price a month ago. The Employees Provident Fund acquired a total of 11.83 million VS Industry shares between May 14 and 16, increasing its stake to 8.63%. EPF is its second-largest shareholder after Datuk Beh Kim Ling, who held a 14.98% stake as at April 15. Save by subscribing to us for your print and/or digital copy.P/S: The Edge is also available on Apple's App Store and Android's Google Play.