This article first appeared in Personal Wealth, The Edge Malaysia Weekly on July 17, 2017 - July 23, 2017

JOHOR-based furniture maker SWS Capital Bhd saw a total of 13.85 million shares or a 9.5% stake traded in direct deals for RM13.85 million on July 6 and July 11.

According to Bloomberg data, the shares were traded in eight blocks, all of which changed hands at RM1 per share — an 11 sen or 9.9% discount to its closing price of RM1.11 on July 11. No shares were transacted on the open market on July 6.

Filings shows that Neo Tiam Hock, co-founder and a former executive director of SWS Capital, disposed of 6.6 million shares on July 6 while his sons — Neo Chee Kiat, Neo Chee How and Neo Chee Hsian — offloaded 1.5 million shares, 730,000 shares and 720,000 shares respectively.

In total, they divested at least 9.55 million shares or a 6.5% stake on that day. To date, Tiam Hock still has 9.97% equity interest while Chee Kiat, who is the group’s managing director, has a 6.4% direct stake.

The buyer could be Teoh Han Chuan, 57, who was appointed deputy managing director of SWS Capital on July 3. Filings show that Teoh, who has over 25 years of experience in the household plastic wares industry, acquired five million shares or a 3.42% stake on July 6.

Over at Versatile Creative Bhd, the paper and cardboard packaging products manufacturer saw 5.45 million shares or 4.6% of its share capital change hands off market for RM5.45 million.

The bulk of the shares — five million shares or a 4.26% stake — crossed in a direct business transaction at 95 sen apiece on July 10. This was a 55 sen or 36.6% discount to the counter’s closing price of RM1.50 that day.

Another 454,200 shares crossed off market on July 7 at RM1.55 apiece — a four sen or 2.6% premium to its closing price of RM1.51 that day.

At press time, it is unclear who the parties involved were.

Separately, mobile applications, digital contents and e-commerce solutions provider AppAsia Bhd saw 12.72 million shares or a 4.3% stake cross in a single direct deal for RM3.18 million on July 10. The transacted price of 25 sen per share represents a 10 sen or 28.5% discount to its closing price of 35 sen that day.

Neither the buyer nor the seller was disclosed.

Over at Formosa Prosonic Industries Bhd, the manufacturer of high quality sound system saw 7.78 million shares or a 3.1% stake cross off market for RM7.66 million.

The bulk of the shares — 7.28 million shares — crossed in a single direct trade on July 5 at 98.5 sen apiece, the same price they were fetching on the open market.

A day later, a block of 500,000 shares changed hands in a single cross trade at 98.5 sen apiece — 1% higher than the counter’s closing price on the open market.

Neither the buyer nor the seller was disclosed.

Meanwhile, business and technology incubator and strategic advisory firm Asia Bioenergy Technologies Bhd saw 8.94 million shares or a 2.2% stake cross off market for RM1.26 million in 20 block trades between July 5 and July 11. The shares were transacted at between 13.5 sen and 16 sen apiece.

Elsewhere, Islamic financial services provider BIMB Holdings Bhd saw 32.85 million shares or a 2% stake cross off market for RM148.26 million between July 5 and July 11.

Traded in eight blocks, the shares changed hands at RM4.48 to RM4.55 apiece in direct deals and cross trades.

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