FROM Aug 3 to 9, some 556.38 million shares worth RM1.04 billion changed hands off market in blocks of at least 400,000 shares. Among the notable transactions was Green Packet Bhd’s acquisition of 30.25 million shares or a 22% stake in Yen Global Bhd, making the former the second largest shareholder of the Penang-based apparel maker.

The shares were transacted in multiple direct deals on Aug 3 at 60 sen apiece, a substantial 35.1% discount to the market price of 92.5 sen, but three times higher than its book value. Its share price has surged 50% to an all-time high of 97.5 sen since Taiwan-listed Gemtek Investments Co Ltd became the largest shareholder of the loss-making company on July 14.

The entry of Gemtek, a wireless products maker, and Green Packet, a mobile broadband solutions provider, is expected to accelerate Yen Global’s venture into the telecommunications space. Earlier, in March, the company’s new subsidiary entered into an agreement with Gemtek to distribute its products in Southeast Asia.

Over at sugar producer MSM Malaysia Holdings Bhd, major shareholder Koperasi Permodalan Felda Malaysia Bhd disposed of 10 million shares or a 1.4% stake worth RM50 million in a single direct deal on Aug 3. The shares were sold at RM5 apiece, 2.2% higher than the stock’s RM4.89 close that day. The identity of the buyer was unknown at the time of writing.

Both MSM and its parent company, Felda Global Ventures Holdings Bhd, recently saw a change in top management. MSM’s tightly held shares started to bottom out last December and hit a one-year high of RM5.12 on Aug 4, helped by its 5.1% yield and a 32% hike in the wholesale sugar price effective Aug 1.

Meanwhile, aluminium products manufacturer Press Metal Bhd saw 25 million shares or a 1.9% stake worth RM97.5 million cross in four direct deals during the period. On Aug 3, 20 million shares were sold at RM3.85, a 7.7% discount to the RM4.17 the stock closed at on that day. On Aug 5, five million shares were transacted at RM4.10, slightly below the market price of RM4.12.

Parties to the transactions had not been revealed at the time of writing. Buoyed by the recent strengthening of aluminium prices and receipt of insurance claims totalling RM115 million, Press Metal’s share price has more than doubled year to date. Last month, the company proposed a share split and a bonus issue, which are expected to be completed by end-2016.

APFT Bhd saw 22.5 million shares or a 4.7% stake cross in numerous block trades during the week in review. Some 9.9 million shares were transacted at the market price of 5.5 sen apiece while the other 12.6 million shares were sold at six sen, which was 0.5 sen or 9.1% above the market price.

Parties involved in the transactions were not known at the time of writing. Citing a sharp decrease in the demand for pilot training, the aviation training firm has been loss-making since 2012 and has shed 71.7% of its market value in the past year. It recently raised RM2.15 million from a private placement for working capital.

At O&C Resources Bhd, 9.5 million shares or a 4.2% stake crossed in three direct deals at 39 sen apiece on Aug 3 and 5, close to the market price of 38 sen to 40 sen for the two days. Parties to the deals were unknown at the time of writing. The loss-making condom and baby care accessories manufacturer is diversifying into construction and property development to turn the company around.

On Aug 2, O&C said its 70%-owned subsidiary had clinched a RM101.1 million contract to construct affordable houses under the 1Malaysia affordable housing scheme (PR1MA) in Alor Gajah, Melaka. The company expects the new project to contribute positively to future earnings. Nevertheless, its share price continued its slide to a one-year low of 39 sen and has almost halved from its high of 76 sen in May.

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