BETWEEN Feb 15 and 21, a total of 625.5 million shares worth RM1.32 million were transacted off market in blocks of at least 450,000 shares.

Among notable trades were those at LBS Bina Group Bhd, which saw 33 million shares or a 5.11% stake change hands in five direct deals for a total of RM57.75 million on Feb 16. The RM1.75 apiece transaction price was at a 2.8% to 3.3% discount to the RM1.80 to RM1.81 the stock fetched on the open market that day.

Filings with Bursa Malaysia show the seller to be Gaterich Sdn Bhd, LBS Bina’s single largest shareholder. The disposal has cut its direct stake in the property developer from 51% to 45.6%. Gaterich is the Lim family-owned private vehicle controlled by LBS Bina managing director Tan Sri Lim Hock San and executive director Datuk Wira Lim Hock Guan.

Interestingly, the share disposal came two weeks ahead of the ex-date for LBS Bina’s special dividend of two sen per share on March 1.

LBS Bina’s share price has gained 15.5% year to date. The stock closed at RM1.93 last Wednesday, giving the company a market capitalisation of RM1.24 billion.

Another notable transaction took place at SWS Capital Bhd, which saw 3.65 million shares or a 2.5% stake traded in a direct deal for RM3.2 million last Tuesday. According to filings, the Johor-based furniture maker’s shares were traded in two blocks. Three million shares were transacted at RM2.55 million or 85 sen apiece, and 650,000 shares at RM656,500 or RM1.01 apiece — all at a sizeable discount to the RM1.17 to RM1.21 the stock fetched on the open market that day.

As at press time, it was not known who the transacting parties were. SWS Capital last made filings on substantial shareholding changes in October last year.

As at Nov 21 last year, SWS Capital executive chairman Tan Sri Tan King Tai was the single largest shareholder with an 8.44% stake. Former executive director and co-founder Neo Tiam Hock had 8.06% equity interest while his son Chee Kiat, who is the group’s managing director, had 7.44%. Year to date, SWS Capital’s share price has gained 2.6%. The stock closed at RM1.18 last Wednesday, giving the company a market capitalisation of RM172.1 million.

Over at Berjaya Land Bhd (BLand), 33 million shares or a 0.66% stake changed hands at 60 sen apiece or RM19.8 million in total in a direct deal on Feb 17. The transaction price was 3% lower than the stock’s closing price of 62 sen that day.

However, it has not gone unnoticed that this was just a passing of shares from the left hand to the right by Berjaya Group founder Tan Sri Vincent Tan Chee Yioun.

A Feb 21 filing shows that Teras Mewah Sdn Bhd, a wholly-owned subsidiary of Berjaya Group Bhd, sold 33 million BLand shares at 60 sen apiece to its ultimate parent company, Berjaya Corp Bhd — Tan’s listed flagship — on Feb 17.

On Feb 15, BLand announced that it was disposing of its 70% stake in Berjaya Long Beach Ltd Liability Company (BLong Beach) to Sulyna Hospitality Hotel Restaurant Travel Service Co Ltd for VND333.25 billion (RM65.32 million) cash, to realise its investment in BLong Beach.

Reach Energy Bhd saw 19.3 million shares or a 1.7% stake change hands in a direct deal at 62.5 sen apiece or RM12.06 million in total on Feb 17. The transaction price was 2% lower than the stock’s closing price of 64 sen that day. The parties involved in the deal were not known at the time of writing.

On Feb 20 and 21, Sunway Real Estate Investment Trust saw 26.15 million shares or a 0.88% stake traded off market at between RM1.75 and RM1.78 apiece, or RM45.7 million in total.

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