TAS Offshore and other Bursa stocks record major shareholding changes

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Bursa major shareholding changes

Highlights

TAS Offshore Bhd saw 51.25 million shares transferred by the estate of the late Datuk Lau Nai Hoh to his three children, changing the company's major shareholding structure.
Eco-Shop Marketing Bhd reported a 7.5% year-on-year increase in first-quarter net profit to RM63.19 million, driven by higher revenue and 15 new outlets.
Binastra Corp Bhd posted a 78.1% surge in second-quarter net profit to RM50.62 million, supported by strong construction activity and contributions from LF Lansen Sdn Bhd.

This article was translated from the original. Read the original version by our correspondent here.

Major shareholder changes during the trading week

The Edge Malaysia reported that one of the significant filings for the period from 19 to 23 Oct involved TAS Offshore Bhd, where the estate of its late founder, Datuk Lau Nai Hoh, transferred 51.25 million shares to his three children.

His two sons, Lau Choo Chin and Lau Choo Kuang, each received about 24.86 million shares on 21 Oct, increasing their direct stakes in the company to 21.75% and 21.52%, respectively. His daughter, Lau Siew Ling, received 1.54 million shares, raising her direct stake to 5.89%. Lau Nai Hoh died in late April this year, while Choo Chin took over as managing director of TAS Offshore on 30 April and Choo Kuang was appointed deputy managing director on 23 July.

At Eco-Shop Marketing Bhd, the Employees Provident Fund acquired a total of 19.26 million shares from 15 to 20 Oct, increasing its stake to 6.05%, equivalent to 348.24 million shares. The pension fund is now the third-largest shareholder in the fixed-price retail chain operator.

At EGH International Bhd, its group managing director, Datuk Weslie Lim Yuk Meng, who is also its largest shareholder, bought 6.91 million shares on 20 Oct, raising his stake to 32%, or 320.01 million shares. Four days earlier, Phillip Capital Management Sdn Bhd ceased to be a substantial shareholder after selling 500,000 shares.

At Singapore-based Mclean Technologies Bhd, its largest shareholder, Accrelist Crowdfunding Pte Ltd, disposed of 30 million shares in an off-market transaction on 20 Oct, leaving it with a 16.36% stake, or 40.27 million shares. As of the time of publication, no information was available about the buyer of the shares.

Bursa Malaysia also recorded a disposal in Binastra Corp Bhd, where its managing director, Datuk Tan Kak Seng, sold 40 million shares at RM2.80 per share in a direct business transaction on 20 Oct. He now holds a 7.85% direct stake and a 41.05% indirect stake, totalling 535.35 million shares. From 19 to 21 Oct, Eastspring Investments Bhd also sold 401,200 Binastra shares, reducing its stake to 5.54%, or 60.6 million shares.

At MTT Shipping and Logistics Bhd, Arbdn Malaysia Sdn Bhd acquired a total of 160.19 million shares from 15 to 21 Oct, increasing its stake to 6.41%.

Share performance and company financials

TAS Offshore is down 29.8% this year to 39 sen as at 27 Oct, giving it a market capitalisation of RM69.2 million. Among the other listed stocks, Eco-Shop is up 0.9% year to date to RM1.43, with a market capitalisation of RM8.23 billion.

Eco-Shop reported a 7.5% year-on-year increase in first-quarter net profit for the financial year ending 31 May 2026, to RM63.19 million, supported by a 16% rise in revenue to RM793.68 million following higher transaction volumes. The company also added 15 stores during the quarter, bringing its total number of outlets to 477.

EGH, which made its debut on the ACE Market on 16 Oct, is down 43.7% to nine sen as at 27 Oct, compared with its initial public offering price of 16 sen. This gives it a market capitalisation of RM90 million.

Mclean shares are up 11.7% year to date, closing at 65 sen on 27 Oct and giving the company a market capitalisation of RM160 million. Binastra, meanwhile, closed at an all-time high of RM2.83 on 19 Oct before ending lower at RM2.68 on 27 Oct, but remains up 34.3% year to date, with a market capitalisation of RM2.93 billion.

Binastra reported a 78.1% surge in second-quarter net profit for the financial year ending 31 Jan 2027, to RM50.62 million, driven by stronger construction activity, contributions from newly acquired thermal energy company LF Lansen Sdn Bhd, and expansion in solar installations. Revenue rose 65.9% to RM658.39 million.

MTT Shipping and Logistics is up 25.2% since its listing on the Main Market on 21 April, closing at RM1.29 on 27 Oct compared with its IPO price of RM1.03. At that price, the container shipping operator had a market capitalisation of RM2.5 billion, while its highest closing price to date was RM1.37 on 26 Aug.

MTT recorded net profit of RM94.51 million and revenue of RM298.3 million for the second quarter of the financial year ending 31 Dec 2026. The company did not provide a year-on-year comparison as it had only recently been listed, but quarterly net profit increased 44.5% while revenue rose 20.8%.

Previously, we reported on a Bursa Malaysia momentum screen showing that Binastra Corporation Bhd was unchanged at RM2.70.

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