For the week of April 2 to 8, some 35.6 million shares of Supportive International Holdings Bhd worth RM21 million were traded off market in block deals. The shares changed hands at 59 sen apiece.It was reported recently that the toy manufacturer had planned to lease a 10,000 sq ft factory in Ho Chi Minh City, Vietnam, to grow its operations there this year, despite the unfavourable economic climate. Winsun Technologies Bhd saw 20.67 million shares transacted in block and direct deals at 4.5 sen each, worth some RM930,000. The company, listed in February this year, intends to expand its industrial control management systems business in Vietnam next year. Its existing operations are mainly in China.Some 14.44 million Compugates Holdings Bhd shares worth RM1.91 million were traded in block and direct deals at 12.5 to 15 sen apiece. The company, the sole distributor in Asean for Swiss-based pharmaceutical firm Amavita Apotheke Central, is collaborating with Majlis Amanah Rakyat to develop a chain of 3,000 bumiputera-owned pharmacies.IJM Land Bhd saw 14.27 million shares, worth RM11.77 million, change hands in block and direct trades at 82.5 sen per share. The developer recently launched its home ownership scheme, which is expected to generate up to RM250 million in real estate sales over the next three months. Some 10.77 million IOI Corp Bhd shares valued at RM45.01 million were transacted at RM4.08 to RM4.22 apiece in several block trades. The counter has regained its upward momentum in tandem with the rise in crude palm oil prices, which exceeded RM2,100 a tonne last week. IOI Corp closed at RM4.20 last Thursday. Oil and gas equipment fabricator KNM Group Bhd saw 8.59 million shares, valued at RM3.69 million, change hands in block trades at 41.5 to 44 sen per share. AmResearch has a “sell” recommendation on KNM due to its dwindling order book and inability to replenish its contracts.Resorts World Bhd saw 6.62 million shares worth RM14.81 million transacted off market at RM2.23 to RM2.28 apiece in several block trades. The stock rebounded from a four-year low of RM1.90 to close at RM2.27 last Thursday. The company has started a share buyback scheme to acquire up to 10% of its share capital. Tenaga Nasional Bhd saw 3.6 million shares valued at RM22.7 million traded in block deals at RM6.30 per share. Tenaga has underperformed the Kuala Lumpur Composite Index (KLCI) so far this year. The KLCI has risen almost 5% year to date, but Tenaga dropped 2.4% to close at RM6.10 last Thursday.Some 5.1 million Milux Corp Bhd shares worth RM6.38 million were transacted at RM1.25 apiece in block and direct deals. Milux, a manufacturer of gas regulators for domestic use, expects exports to contribute half its revenue in its financial year ending August 2009, up from 30%, as the company expands its reach to Indonesia, India and South Africa.Progressive Impact Corp Bhd saw 7.14 million shares worth RM3.26 million change hands in block and direct trades at 45 to 46.5 sen per share.Some 6.43 million Mulpha International Bhd shares, valued at RM2.02 million, were traded in block and direct deals at 29.5 to 31.5 sen apiece.Asia Bioenergy Technologies Bhd (ABT) saw 7.49 million shares worth about RM650,000 traded in block deals at 8 to 10.5 sen per share. It was reported in December last year that ABT had secured up to RM143 million worth of jobs to build biodiesel plants in Malaysia and Indonesia. This article appeared in The Edge Malaysia, Issue 750, April 13-19, 2009
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