A total of 306.52 million shares worth RM282.04 million were traded off market in blocks of at least 450,000 units between Dec 31, 2014, and Jan 6, 2015.

Among the notable transactions were those at Minetech Resources Bhd, which saw 15.73 million shares or a 2.37% stake change hands. The shares were transacted at between 10 sen and 12.5 sen apiece in a series of block trades valued at RM1.81 million in total.

According to a filing with Bursa Malaysia, Minetech founder and executive chairman Choy Sen @ Chin Kim Sang acquired 12.12 million shares or a 1.82% stake at
11.5 sen apiece on Jan 6. The purchase raised his holding in the quarry service provider to 28.58%.

One day before the share purchase, the company announced that it had received a RM15 million offer from Asphalt Man International Co Ltd to buy 100% of its asphalt unit. The offer period is two weeks from Jan 5, the date of the offer letter, and there are no conditions attached to the offer, the announcement read.

Over at Harn Len Corp Bhd, which operates oil palm plantations and mills and has hotel operations, 2.78 million of its shares or a 1.5% stake was traded off market in a direct deal on Jan 2 for RM2.6 million. The shares, sold at 93.5 sen apiece, reflect a 13% discount to the stock’s Jan 2 closing price of RM1.08.

There were no filings that could shed light on the trade at the time of writing, but the Johor-based company announced some boardroom changes on the same day.

Puan Sri Chan Pui Leorn, “who assists [her spouse] Tan Sri Low Nam Hui, the executive chairman, in overseeing the operations of the group”, was redesignated as deputy executive chairman from executive director. Her sons, executive directors Low Quek Kiong and Low Kueck Shin, were reassigned as managing director and deputy managing director respectively. Their brother Low Kok Yaow was appointed executive director.

Meanwhile, penny stock Sanichi Technology Bhd saw 13.4 million of its shares or a 1.3% stake change hands off market in direct deals on Jan 2 and 6 for a total of
RM1.33 million. Some 12.5 million shares were transacted at 10 sen apiece on Jan 2 and another 900,000 shares were traded at nine sen each on Jan 6.

Filings show that the company’s managing director Datuk Pang Chow Huat acquired 12.5 million shares on the market on Jan 2 at undisclosed prices. The purchase raised his stake in the precision mould maker to 3.28%. Sanichi recently announced its diversification into the property development sector with a RM7.7 million land acquisition in Melaka.

Elsewhere, Pan Malaysia Holdings Bhd saw 11.85 million of its shares or a 1.28% stake change hands off market between Dec 31, 2014, and Jan 6, 2015, in a series of direct deals worth RM5.48 million in total. A total of 5.85 million shares were sold on Dec 31 and Jan 2 at 50 sen apiece and another six million shares were transacted at 42.5 sen each on Jan 6. At press time, the company, which has businesses in travel, hotels and property, had yet to make any announcement with regard to the buyers or sellers.

At Sarawak Oil Palms Bhd (SOP), four million of its shares or a 0.91% stake was traded off market in two direct deals on Jan 5 at RM4.50 per share or RM18 million in total. The company had not revealed the transacting parties at the time of writing. It is worth noting that the shares were transacted at a 13% discount to SOP’s closing price of RM5.20 on the same day, where only 4,000 shares changed hands on the market. SOP closed at RM5.26 on Jan 7, down 17.8% from a high of RM6.40 on Nov 25, 2014.

This article first appeared in The Edge Malaysia Weekly, on January 12-18, 2015.

Save by subscribing to us for your print and/or digital copy.

P/S: The Edge is also available on Apple's AppStore and Androids' Google Play.