T7 Global Bhd (T7G) saw 15.2 million shares or a 3.62% stake traded in two direct deals worth RM5.85 million on June 29. The shares were transacted at 38.5 sen apiece — a 7.23% discount to the stock’s closing price of 41.5 sen that day.
According to T7G’s filing with Bursa Malaysia, its executive director Tan Kay Vin acquired 7.19 million shares through a direct deal at 38.5 sen apiece that day. It is not known who the seller of the block was.
Tan’s stake in the oil and gas services provider has increased to 2.37% or 9.86 million shares. His father, Tan Sri Tan Kean Soon, is a director and substantial shareholder of T7G.
The company has been in the spotlight in recent weeks due to its planned involvement in the RM81 billion East Coast Rail Line (ECRL) project, and the emergence of tycoon Tan Sri Vincent Tan as its substantial shareholder on May 15.
On June 25, the founder of Berjaya Group ceased being a substantial shareholder after disposing of 3.68 million shares, following a public outcry over news that the ECRL may be pushed ahead due to his involvement in T7G.
Note that T7G has not been awarded any contract in the ECRL, but has entered into a memorandum of understanding with Eastern Pacific Industrial Corp Bhd and CMC Engineering Sdn Bhd in relation to the construction of the Terengganu portion of the project.
On June 29, Versatile Creative Bhd (VCB) saw 13.95 million shares or a 10.8% stake change hands through four direct deals at 50 sen apiece. Then, on July 2, 4.04 million shares or 3.13% equity interest changed hands through four direct deals at 65 sen apiece.
On the same day, the group announced the emergence of NSK Trading Sdn Bhd as a substantial shareholder after acquiring 17.5 million shares or a 13.54% stake through direct deals and open market transactions on June 29.
The paper box maker announced last week that it had discovered financial irregularities arising from unauthorised payments to third parties between August 2017 and June 2018. The group has appointed Crowe Malaysia to conduct forensic studies on the financial irregularities and suspended its managing director and chief financial officer pending the investigation.
At Handal Resources Bhd, 3.88 million shares or a 2.43% stake changed hands at 45 sen apiece through a direct deal on June 28. The price was a 1.1% discount to the closing price of the stock that day.
At press time, there was no information on the buyer and seller of the block. However, on the same day, Borneo Seaoffshore Sdn Bhd emerged as a substantial shareholder of Handal after acquiring 11.68 million shares or a 7.3% stake through open market transactions.
On June 28, Ta Win Holdings Bhd saw 2.11 million shares or 2.9% equity interest change hands through five direct deals at 50 sen apiece, for a total of RM1.05 million. The buyer and seller was not known at press time.
On June 29, the group announced that Chen Hung Lin had resigned as its managing director as he wants to focus on his private investments and his family’s needs.
Datuk Yeo Boon Leong emerged as the single largest shareholder of the copper products manufacturer late last year through Pioneer Conglomerate Sdn Bhd and Tenggara Kapital Sdn Bhd.
As at June 28, Yeo had a 32.37% stake in Ta Win while the Chen family, which is the founder of the group, had 13.7% equity interest.