KUALA LUMPUR (July 2): Lien Hoe Corp Bhd saw nearly one-third of its stake, comprising 108.55 million shares, cross off-market today. This represents 32.65% of the company's outstanding 332.42 million shares.

According to Bloomberg data tracking trade of 300,000 shares or more, the shares were transacted in one block.

The transaction was carried out at 25 sen a share, for a total of RM27.14 million. It is not immediately known as to whom the parties involved in the transaction are.

According to Lien Hoe's annual report, its managing director Datuk Yap Sing Hock had the largest stake of 32.6% in the company as at March 29 this year, held under Kenanga Nominees (Tempatan) Sdn Bhd, followed by Lim Yew Keng's 13.39%.

Lien Hoe's website, meanwhile, stated that the company is involved in hotel operations, building and civil works, property development and property investment. The company has been loss-making since the financial year ended 2014 (FY14). 

Lien Hoe's net loss widened to RM8.71 million in the first quarter ended March 31, 2019 (1QFY19), versus RM7.81 million last year, while revenue was down 42.2% to RM5.96 million, against RM10.29 million in 1QFY19.

The higher net loss was due to higher operating and administration expenses.

While its total revenue fell due to discontinued construction operations, Lien Hoe's revenue from continuing operations grew 7% to RM5.9 million, from RM5.5 million, on the back of higher room occupancy, coupled with improved revenue per available room.

Shares of Lien Hoe closed unchanged at 25 sen today, valuing the company at RM83.11 million. The stock, over the past 12 months, slipped 34.21% from 38 sen.