YTL Corp- The EPF Mickey Mouse

Run silent,run deep 

I do feel suspicious when EPF comes into the market and buy shares.

I know they had been selling away some of their hot shot blue chips to take up government linked shares like Gas Malaysia,FGV and now IHH.

They have been throwing out super dukes like TM, Digi, Public Bank (PBB),Tenaga,Axiata, KLK and even PPB for sometime.

I see a trend of buying back now on these blue chips as they liquidate  excess FGV shares and all other government linked shares that they have taken up on their IPO.

I noted that they have bought back a lot into PBB and PPB.

Now what interest me a lot is this continuous buying into YTL Corp.

What gives?

Let us see how much they have been buying. YTL.The total number of shares for YTL is now  10,608,755,462

Total holdings of EPF is now 811,610,853.

Looking of the EPF trade on this counter from 11 July until  25 July, it can be seen that there is more buying than selling. Except for selling conducted on 13 July where EPF disposed 1.7 million shares, the other days represent buying days as follows:

24 July: 2,194,000

23 July: 3,000,000
20 July: 2,673,100
19 July: 2,000,000
18 July: 1,623,400
16 July: 2,449,800
12 July: 1,600,000
11 July: 2,161,200

So, why is EPF collecting shares on YTL Corp?

PS:

 The current decline in share price is because of the exchange of 5-Years Guaranteed Exchangeable bonds 2010/2015 into ordinary shares of 0.10 sen each. It will take sometime to digest.

I think EPF is buying on this volume weakness when weak sellers  dispose their holdings for cash.

Some 12,912,665 shares are new shares being traded.