This article first appeared in Capital, The Edge Malaysia Weekly on December 10, 2018 - December 16, 2018

THE largest off-market transaction during the week under review belonged to Merge Energy Bhd, which saw 43.96 million shares or 65.6% of its total equity change hands in direct trades on Nov 29.

Filings with Bursa Malaysia show that the company received a notice of unconditional mandatory takeover offer at 88 sen a share on the same day from joint offerors holding the 65.6% stake in the construction firm.

The ultimate offerors are Datuk Tan Gee Swan @ Tan Suan Ching, Lee Tian Huat and Datuk Mohamad Haslah Mohamad Amin. They intend to maintain the company’s listing status.

At 88 sen a share, the offer represents a 19.1% premium to Merge Energy’s six-month share price of 73.9 sen up to the last trading day before the offer.

Over at Tadmax Resources Bhd, 119.1 million shares or a 15.2% stake changed hands in direct trades at 22 sen apiece.

According to filings, managing director and CEO Datuk Seri Aldillan Anuar Adam disposed of a total of 44.5 million shares on Nov 30 and Dec 3. After the disposal, he is left with a 17.11% stake in Tadmax.

At the time of writing, the parties involved in the other transactions were not known.

In the third quarter ended Sept 30, Tadmax posted a net profit of RM4.45 million, compared with a loss of RM19.82 million in the previous corresponding period.

Revenue nearly doubled to RM46.17 million from RM25.76 million previously.

At Tiger Synergy Bhd, 29 million shares or a 3.8% stake changed hands in direct trades at between 6.5 sen and 10.2 sen apiece.

According to filings, managing director Datuk Tan Wei Lian acquired 15 million shares via a direct trade on Nov 29. This increased his holding to 11.39%.

Goh Ching Mun also acquired nine million shares during the week, increasing his stake in the company to 23%.

Parties involved in the other transactions were not known at press time.

Hong Leong Financial Group Bhd saw 41.1 million shares, or a 3.6% stake, change hands off market on Nov 29 and Dec 4.

On Nov 29, 40.1 million shares were transacted at RM18.40 apiece and on Dec 4,  one million shares were crossed at RM19.34 apiece.

At the time of writing, the parties involved in the transactions were not known.

In the first quarter ended Sept 30, the banking group posted an 11% year-on-year increase in earnings to RM505.7 million. Revenue also expanded 8.7% to RM1.38 billion.

Pan Malaysia Holdings Bhd saw 32.8 million shares or a 3.5% stake change hands in direct trades at 11 sen apiece on Dec 3.

The group is involved in the provision of management services and the manufacture, marketing and distribution of cocoa-based goods and other food and confectionery products.

At press time, the parties involved in the transactions were not known.

In September, Pan Malaysia announced that it would diversify into the food and beverage retail sector by partnering Singaporean artisan baker and food store Baker & Cook Pte Ltd, and that its wholly-owned unit, Megafort Sdn Bhd, had entered into an agreement with Baker & Cook to form a 50:50 joint-venture company.

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.