KUALA LUMPUR (Nov 20): Some 17.54 million shares in Seacera Group Bhd, representing a 4.98% stake in the company, were traded off market today.

Bloomberg data showed that the shares were traded in four blocks at prices between 54.5 sen and 75 sen each, or between a 24.3% discount and 4.16% premium to its last closing price of 72 sen in the open market today. Combined, the transactions were valued at RM12.13 million.

Bursa Malaysia filings by Seacera also showed that its group managing director Zulkarnin Ariffin has sold 13.33 million shares — or 3.79% direct stake — to Synergy Platform Sdn Bhd, where he is also a shareholder.

It is unclear who were the participants in the other transactions at press time.

The deal with Synergy Platform left Zulkarnin with 31.16 million shares or an 8.84% direct stake in Seacera, with another indirect stake of 5.91%, representing 20.81 million shares, held by Synergy Platform.

On Oct 17, Seacera, which is involved in tile manufacturing and property development, had bagged a RM216 million contract from Koridor Padu Sdn Bhd to build the Rubber Research Institute of Malaya's centre of excellence in Selangor.

Earlier on Aug 17, Zulkarnin had told reporters that Seacera was looking to tie up with a prominent property developer to develop a township with a gross development value of RM10 billion on its 501-acre (202.74ha) parcel of land in Semenyih, Selangor.

Seacera is looking at a development period of between 10 and 15 years for the Semenyih development, Zulkarnin had said at the time.

Shares of Seacera slid 1.5 sen to close at 72 sen today, giving it a market capitalisation of RM253.62 million. The counter is currently trading at its 10-month low.