This article first appeared in Capital, The Edge Malaysia Weekly on March 26, 2018 - April 1, 2018

N2N Connect Bhd, which provides trading platforms for brokers and investment banks, saw 22.59 million shares, or 4.29% equity interest, change hands in a direct trade on March 16. Filings show that the shares were disposed of by N2N Connect Holdings Sdn Bhd, the vehicle of N2N managing director Tiang Boon Hwa and his wife, non-executive director Lai Su Ping.

On the same day, N2N Connect Holdings converted 44.03 million warrants into shares. With the conversion and the disposal, N2N Connect Holdings’ shareholding in the company now stands at 29.82%.

Condom maker Karex Bhd saw 25.16 million shares, or a 2.52% stake, change hands in a direct trade on March 19. The shares were traded at 86.2 sen apiece, a 6.4% premium to its closing price of 81 sen on the same day.

Karex’s net profit for the first half of its financial year ended Dec 31, 2017 (1HFY2018), fell 59.3% to RM7.38 million due to higher distribution and administrative expenses as well as less favourable foreign exchange rates. This was despite a 22.8% increase in 1HFY2018 revenue to RM218.12 million. Year to date, Karex’s share price has declined 38% to close at 79.5 sen last Tuesday.

Electrical and mechanical engineering firm, YFG Bhd, saw a total of 10.01 million shares, representing a 1.64% stake, change hands during the week in review.

In a March 14 filing, the Practice Note 17 (PN17) company said it had received a letter of suspension and delisting of securities from Bursa Malaysia. The exchange noted that on Feb 28, YFG had withdrawn its proposed regularisation plan, which was submitted on Oct 31 last year. The firm’s application for a further extension of time to submit a new proposal was rejected.

Trading in the securities of YFG was to be suspended from March 22 (last Thursday), and its securities to be delisted from Bursa Malaysia on March 26. However, in a March 21 filing, YFG said it had submitted an appeal to Bursa Malaysia against the commencement of delisting procedures as well as to reconsider the rejection and to approve the extension of time for the company to submit a new regularisation plan.

Given that the appeal was submitted within the stipulated timeframe, YFG’s delisting on March 26 shall be deferred pending a decision.

Nexgram Holdings Bhd saw a total of 29.05 million shares, or 1.55% equity interest, change hands in block trades during the week. The shares were traded at 4.5 sen to 5 sen.

Recall that in the trading week of March 7 to 13, Nexgram saw a total of 23.72 million shares, or a 1.26% stake, change hands in block trades. The parties involved in the transactions in the past two weeks were not immediately known.

Maxwell International Holdings Bhd, which manufactures sports footwear in Fujian Province, China, saw 4.89 million shares, or a 1.23% stake, change hands in a block trade on March 16.

The shares were traded at 2 sen apiece. It is not known who the buyers and sellers were. Maxwell’s largest shareholder, Li Kwai Chun, had been paring down her stake in the company earlier this year, with the most recent filing showing that her total shareholding in the company as at Jan 16 stood at 78.28 million shares or a 19.63% stake. The PN17 company has been given until the end of June to submit its regularisation plan to Bursa Malaysia.

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