HSBC Holdings plc has emerged as a substantial shareholder of Industrial Concrete Products Bhd (ICP). HSBC bought a 5.03 per cent stake in the concrete and rubber products company when it acquired 7,374,200 ICP shares on March 29. It then acquired 6,078,000 million shares on March 29 and 10,000 shares on March 30 to bring its shareholding in ICP to 9.19 per cent. Meanwhile, Permodalan Nasional Bhd is now a substantial shareholder of Hovid Bhd following its purchase of a 7.17 per cent stake in the company. The fund manager acquired 6.826 million Hovid shares on March 31.