SOME 492.7 million shares valued at RM321 million were traded off market in blocks of at least 450,000 shares from June 24 to 30.

Among the more notable transactions were those at APFT Bhd, which saw 41.52 million shares or an 11.59% stake change hands off market over the course of the week.

Multiple block trades took place from June 24 to 29, but a sizeable trade occurred in a single direct transaction of 37.3 million shares or 10.4% equity interest on June 29.

The APFT (fundamental: 0.20; valuation: 0) shares were priced at 20.5 sen, valuing the 11.59% stake at RM8.5 million.

The transactions took place close to market value — the stock saw range-bound trading of between 20 sen and 21 sen throughout the week. The flight education and training service provider closed higher last Wednesday at 21.5 sen.

At press time, the company had yet to reveal who the transacting parties were.

On June 24, XiDeLang Holdings Ltd (XDL) saw 138.3 million shares or a 10.46% stake move off market in a direct deal.

The shares were priced at 13 sen apiece or RM18 million in total. This translated into a 3.7% discount to the traded prices as the counter closed flat at 13.5 sen the day the deal was done.

XDL (fundamental: 1.30; valuation: 1.50) said in a filing the following day that its managing director and CEO Mark Ding Peng Peng had disposed of a 10.46% stake, held through HongPeng International Holdings Ltd, on June 24.

After the sale, Ding is said to have a remaining indirect stake of 34.04% in the China-based sport shoe manufacturer.

Over at SYF Resources Bhd, 55 million shares or a 9% stake were traded off market in two direct deals.

The shares in the rubberwood furniture maker were traded on June 26 and 29 at 42.5 sen apiece, valuing the whole block at RM23.38 million.

SYF (fundamental: 0.80; valuation: 1.50) saw its shares close at 40 sen and 39 sen on the respective transaction dates, which indicate that the off-market trades took place at a 6% to 9% premium to the market value.

Meanwhile, 11.85 million shares or a 5.93% stake in ICT security solutions company Scan Associates Bhd changed hands over the week in a series of block trades.

The shares crossed at 7 sen to 10.5 sen apiece. In total, they were valued at RM942,313.

It is unclear who the transacting parties were, but filings to the exchange show that Yeoh Eng Kong bought 500,000 shares on June 25 via Affin Hwang Nominees (Tempatan) Sdn Bhd and Mersec Nominees (Tempatan) Sdn Bhd.

The deemed interest was acquired on the open market and Yeoh now has a 5.24% indirect interest in Scan (fundamental: 0.15; valuation: 0).

Last Tuesday, the company’s CEO, Datuk Dr Norbik Bashah Idris, tendered his resignation due to “personal reasons”.

This follows the recent High Court dismissal of Scan’s application for an injunction to restrain Bursa Malaysia from classifying it as a Guidance Note 3 (GN3) company. Scan has been a GN3 company since May 18.

Elsewhere, Advance Information Marketing Bhd (AIM) saw 11 million shares or a 4.55% stake move off market on June 25.

The business processes outsourcing solutions provider’s shares were traded at 19 sen apiece in a direct deal, valuing the block at RM2.1 million.

Shares of AIM (fundamental: 1.20; valuation: 0.30) were not traded on the open market on the same day. AIM, which ended at 23 sen on July 2, had last closed at 21 sen on June 23.

Note: The Edge Research’s fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations. Visit www.theedgemarkets.com for more details on a company’s financial dashboard.

This article first appeared in Capital, The Edge Malaysia Weekly, on July 6 - 12, 2015.

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