Off-Market Trades: JMR Conglomeration Bhd, DBE Gurney Bhd, SMRT Holdings Bhd, Enra Group Bhd, Permaju Industries Bhd

This article first appeared in Capital, The Edge Malaysia Weekly, on June 25, 2018 - July 01, 2018.
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JMR Conglomeration Bhd saw 14.5 million shares, or a 11.44% stake, change hands in direct trades off market on June 13 at RM1.05 apiece — a 4% premium to its closing price of RM1 on that day.

According to Bursa Malaysia filings, the diversified group’s largest shareholder, JMR Consolidated Holdings Sdn Bhd, sold the shares to Mayapada Capital Sdn Bhd. JMR Consolidated has been paring down its stake since last December, selling 50.8 million shares, or 40.07% equity interest, within half a year. Post-transaction, JMR Consolidated is left with 12.6 million shares or a 9.94% stake in the group.

Integrated poultry company DBE Gurney Bhd saw 94.3 million shares, or 3.52% equity interest, traded off market at three sen apiece on June 13 in two block  trades.

Filings show that Doh Properties Holdings Sdn Bhd bought 93.9 million shares that day, raising its holding to 19.4%. DBE executive director Datuk Doh Jee Ming and non-executive director Datuk Doh Tee Leong are deemed interested in the stake.

The parties involved in the transaction of another block of 419,000 shares  were  not known at the time of writing.

DBE’s share price has moved in a tight range of 2.5 sen to 4 sen since the beginning of the year.

At G3 Global Bhd, 10.72 million shares, or a 2.6% stake, were transacted in a direct trade on June 14.

The shares were traded at 80 sen apiece, an 8% discount to its closing price of 87 sen. The parties involved in the transaction were not known.

Formerly known as Yen Global Bhd, the apparel and internet of things firm saw the entry of Green Packet Bhd and Taiwan-listed Gemtek Technology Co Ltd as substantial shareholders in 2016. As at Dec 31 last year, Green Packet was the largest shareholder of G3 Global with a total of 132 million shares, or 32% equity interest, while Gemtek Investment Co Ltd held 123.75 million shares or a 30% stake.

Education and talent development company SMRT Holdings Bhd saw 9.5 million shares change hands in two direct trades — five million shares and 4.5 million shares each — on June 13.

The shares were acquired by chairman Tan Sri Dr Palaniappan Ramanathan Chettiar at 14.5 sen apiece — a 6.5% discount to its closing price of 15.5 sen on that day. The acquisition brings his direct stake in the company to 29.2 million shares or 7.232%. He also has indirect interest totalling 84.29 million shares or 20.873%.

Over at Enra Group Bhd, a block of three million shares, or 2.22% equity interest, changed hands at RM2.50 apiece on June 18. The parties involved in the transaction were not immediately known.

Two weeks ago, the property and oil and gas company announced its proposed acquisition of Australia-based International Chemicals Engineering Pty Ltd for A$4.5 million (RM13.5 million), to be fulfilled by a combination of A$2.9 million in cash and the assumption of A$1.6 million of existing shareholders’ loans.

Motor vehicles trader and property developer Permaju Industries Bhd saw 3.6 million shares traded in several direct deals on June 14 at 22 sen apiece — a slight premium to its closing price of 21.5 sen on that day. The transacting parties were not known at the time of writing.

The Chai family — brothers Datuk Chai Kin Loong, Tan Sri Chai Kin Kong and Chai Kim Chong — have 18% equity interest in Permaju.

Global financial services group Credit Suisse AG’s unit, Credit Suisse Securities (Europe) Ltd, was a substantial shareholder of Permaju before it disposed of 1.68 million shares last month.

 

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