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A total of 573.37 million shares valued at RM2.2 billion changed hands in blocks of at least 400,000 shares between Jan 28 and 30.

Tanjung Offshore Bhd (fundamental: 1.95; valuation 2.4) saw 36 million shares or a 10% stake change hands in a direct trade at RM12.6 million or 35 sen apiece on Jan 30. The parties involved in the deal were not known at the time of writing.

It announced a week earlier that it had suspended two of its directors and a group adviser after an internal review by an independent committee established within the company. In a filing with Bursa Malaysia, the company said there may be a conflict of interest and breach of fiduciary duty by the two directors, acting both individually and together. Tanjung’s largest shareholder is Lembaga Tabung Haji with 8.26% equity interest, while Tan Sri Tan Kean Soon is the second largest shareholder with a 4.81% stake.

For the third quarter ended Sept 30, 2014, Tanjung recorded a net loss of RM513,000 compared with a net loss of RM1.97 million a year ago. Meanwhile, revenue fell 70% to RM18.92 million. The revenue decline was attributable to the completion of various engineering equipment packages in the quarter ended June 30, while some contracts did not reach the milestones for billings, says the company.

Takaso Resources Bhd (fundamental: 1.25; valuation 0.30) saw 12.8 million shares or 6% equity interest change hands in a series of block and direct trades at 59.5 sen to 66 sen apiece or RM7.96 million in total. The direct trade, involving 4.5 million shares, changed hands at 64 sen apiece on Jan 28 — a shade lower than the 66 sen the stock closed at on the same day. The buyer and seller were unknown at press time.

A few weeks earlier, filings with Bursa revealed that private property developer OCR Land Holdings Sdn Bhd acquired a 7.6% stake in Takaso, increasing its holdings in the consumer products maker to 13.88%.

Takaso’s share price first began its climb on Aug 1, 2014. From then until Jan 23 this year, the stock surged 186% to 71.5 sen. However, it has been on a downward slide since then. By Feb 4, the shares had dropped 27% to 51.5 sen.

Meanwhile, Asia Bioenergy Technologies Bhd (fundamental: 1.2; valuation: 0) saw 21.4 million shares or 3% equity interest cross off market in block trades. The buyers and sellers were not known.

It is worth noting that Asia Bioenergy recently announced a proposal to acquire two shipping companies in an all-share deal for RM168 million. The deal will see the entrance of new shareholders, including Singapore-based Hoe Leong Corp Ltd and Tan Sri Halim Saad-linked Sumatec Resources Bhd, which will collectively hold 20% equity interest in Asia Bioenergy’s enlarged share capital.

For the month of January, Asia Bioenergy’s share price climbed 88.46%, from 13 sen on Jan 7 to 24.5 sen on Jan 30. However, it fell 24.49% to 18.5 sen on Feb 4.

At Eduspec Holdings Bhd (fundamental: 3; valuation: 1.2), which provides IT literacy materials for primary and secondary education, 20 million shares or a 3% stake changed hands in direct and block trades.

Net profit for the fourth quarter ended Sept 30, 2014, saw a marked increase of five times to RM7.17 million from RM1.33 million a year ago. Revenue more than doubled to RM29.06 million from RM11.75 million previously.

Eduspec said in its financial results release that the increase was mainly due to the sales of educational tools to digital schools and the dual language lab/iPad mobility system segment. Since Nov 29 last year, the company’s share price has surged 16.98% to 31 sen on Feb 4.

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.

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This article first appeared in The Edge Malaysia Weekly, on February 9-15, 2015.

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