A total of 318.95 million shares valued at RM340.49 million changed hands off market in blocks of at least 450,000 shares between June 3 and 9.

BCB Bhd (fundamental: 0.80; valuation: 3.00) saw 21.57 million shares or a 10.77% stake transacted at 90 sen apiece in four direct deals on June 5. The price was below the 95 sen to 97 sen the stock closed at between May 28 and June 5.

According to a June 8 filing, the property developer’s group managing director Datuk Tan Seng Leong, his spouse Datin Lim Sui Yong and his son Tan Vin Sern sold 21.7 million shares at 90 sen apiece to Evergreen Ratio Sdn Bhd, which the couple are deemed interested in. Some of the shares sold were pledged shares from three nominee accounts.

Evergreen Ratio, which emerged as a substantial shareholder after buying 22 million shares or a 10.98% stake on May 28, bought another 22 million shares at 90 sen apiece on June 2. Its stake rose to 32.81% after it bought the 21.7 million shares.

Over at Kanger International Bhd (fundamental: NA; valuation: NA), 30.35 million shares, or a 5.58% stake, were traded off market in several direct deals between June 3 and 9. The shares changed hands at between 15 sen and 21.5 sen apiece.

According to filings, the integrated bamboo product manufacturer and supplier’s managing director Leng Xingmin transferred 24 million shares or a 4.4% stake among his different securities and nominee accounts with Kenanga Investment Bank on June 3.

On the same day, executive director Chong Amita transferred a 2.58% stake or 14 million shares from his pledged securities account at Kenanga Nominees (Tempatan) Sdn Bhd to his third-party account at the same securities firm. The following day, Chong acquired a 1.69% stake or 9.2 million Kanger shares off market at 21.5 sen apiece — higher than the 15 sen to 15.5 sen the stock fetched on the market on that day.

Stock market data shows 3.78 million shares changed hands in a direct deal at 16 sen a piece and another 23 million shares were transacted in eight direct deals at 21.5 sen apiece on June 4.

After the transactions, Chong is left with a 9.27% direct stake and a 0.11% indirect stake in Kanger while Leng has 37.56% direct interest.

Construction company Mudajaya Group Bhd (fundamental: 0.55; valuation: 1.20) saw 30 million shares or a 5.57% stake change hands in a direct deal on June 4 at RM1.40 apiece, or RM42 million.

Dataran Sentral (M) Sdn Bhd is likely the seller as filings show it disposed of the same amount of shares on that day, reducing its holding to 19.21%.

Following the disposal, Mudajaya’s former group managing director and CEO Anto Joseph saw his indirect interest in the company reduced to 19.26%. He also holds a 0.42% direct interest.

Besides Joseph, Mudajaya’s non-independent non-executive director Wee Teck Nam also has an interest in Dataran Sentral. Between June 3 and 5, Wee sold 188,500 Mudajaya shares and is left with a 0.2% direct stake and 19.21% indirect stake.

Meanwhile, Ng Ying Loong’s direct and indirect interest in Mudajaya is reduced to 0.01% and 19.26% respectively, filings show.

The RM1.40 disposal price for the 30 million shares was within the RM1.39 to RM1.41 the stock fetched on the market on that day.

At the time of writing, there were three “sell” calls and one “hold” call on Mudajaya, according to Bloomberg data. The most bullish was Public Investment Bank Research, which had a RM1.40 price target and a “hold” recommendation. Mudajaya closed at RM1.39 last Wednesday, down 4.1% year to date.

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 June 15 - 21, 2015.

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