Friday 29 Mar 2024
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FROM March 18 to 24, some 583.3 million shares valued at RM640.1 million were traded off market in blocks of at least 500,000 shares.

Among the companies that saw notable trades was Niche Capital Emas Holdings Bhd (fundamental: 0.75; valuation: 0.6), which saw a 28.01% stake in the jewellery manufacturer and distributor traded off market.

On March 18, a block trade of 500,000 Niche Capital shares was transacted at 15 sen each. Subsequently, on March 20, some 64.8 million shares changed hands via block trades and direct deals at 10.5 sen apiece or RM6.8 million.

A filing with Bursa Malaysia on March 23 reveals that Julian Foo Kuan Lin has emerged as a substantial shareholder in Niche with 32.4 million shares or a 13.9% stake. Foo is a director of Le’ Proton Metal Works Sdn Bhd, an investment holding company.

Over at Masterskill Education Group (fundamental: 0.8; valuation: 0.6), 86.5 million shares or a 23% equity stake were off traded via a direct deal on March 20. The transaction was completed at 60 sen apiece or RM51.9 million.

A Bursa filing on the same date shows that Masterskill executive chairman Siva Kumar A/L M Jeyapalan has ceased to be a substantial shareholder of the education group. Siva sold 86.5 million shares or a 23% stake at 60 sen apiece.

Interestingly, a unit of SMRT Holdings Bhd (fundamental: 1.7; valuation: 0.6), Strategic Ambience Sdn Bhd, has emerged as a substantial shareholder in Masterskill with 86.5 million shares, according to a Bursa filing on March 23. The transacted price was not revealed.

Another notable trade was 35 million shares or a 5.83% stake in China Automobile Parts Holdings Limited (CAP) that moved off market. The chassis component manufacturer saw a series of block trades and direct deals at prices between 26 sen and 35 sen from March 19 to 24.

Two weeks ago, CAP (fundamental: 1.95; valuation: 1.8) announced it will be jointly investing US$3 million (RM11.11 million) in a scrap rubber recycling plant in China with SRI Elastomers Sdn Bhd. As at press time, there was no news of who the transacting parties were.

Over at agri-chemical producer Imaspro Corp Bhd (fundamental: 1.45; valuation: 0.6), the agrochemical producer, some 8.9 million shares or a 11.1% stake changed hands via direct deals. On March 18, 660,000 shares were traded at RM1.50 apiece or RM990,000. From March 19 to 24, some 8.2 million shares were traded at RM1.70 apiece or RM13.97 million.

According to Bursa filings in the same period, Imaspro director Mohd Shafek Isa (through his vehicle Sunbina Dunia Sdn Bhd) ceased to be a substantial shareholder after a series of disposals. Shafek trimmed his stake further, to 150,000 shares or 0.9% on March 23, after disposing of 2.4 million shares or a 3% stake at RM1.70 apiece.

Yu Kuan Chon has emerged as a substantial shareholder in Imaspro, with a 5.96% stake, after he acquired an additional 361,000 shares or 0.45% in the company on March 17. Yu, controlling shareholder of YNH Property Bhd, made his name when he blocked the privatisation plan of Hong Leong Capital Holdings Bhd.

RCE Capital Bhd (fundamental: 1.4; valuation: 1.8) saw some 55.2 million shares or a 4.31% stake moved off market on March 20. The shares were transacted in a direct deal at 32 sen apiece.

A Bursa filing on March 24 shows that substantial shareholder Cempaka Empayar Sdn Bhd acquired 55.2 million shares in RCE. The transaction bumps up Cempaka Empayar’s direct interest in the loan financing services provider to some 724.3 million shares or a 56.57% stake.

At Asia Bioenergy Technologies Bhd (fundamental: 1.2; valuation: 0.3), some 10.5 million shares or a 1.21% stake were traded off market on March 19. The shares were traded in block trades at 10 sen apiece or RM1.05 million.

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(Note: The Edge Research 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. Go to www.theedgemarkets.com for more details on a company’s financial dashboard.)

This article first appeared in Capital, The Edge Malaysia Weekly, on March 30 - April 5, 2015.

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