This article first appeared in Capital, The Edge Malaysia Weekly, on March 14 - 18, 2016.

Between March 2 and 8, 722.8 million shares worth RM1.03 billion were traded off market in blocks of at least 450,000 shares. A notable trade was seen at AE Multi Holdings Bhd, where 10 million shares, or a 4.2% stake, were sold at a premium to the open-market prices by a buyer who had bought placement shares barely five months ago.

According to stock market data, 10 million shares changed hands in a single direct deal on March 3 at 12 sen apiece, at a 9.09% premium to the price of 11 sen on the open market then.

The seller was likely 555 Capital Sdn Bhd, which, filings show, sold the same number of shares at 12 sen on the same day and ceased to be a substantial shareholder. 555 Capital emerged as a substantial shareholder of the manufacturer of printed circuit boards on Nov 30, 2015, with 24 million shares or a 10.13% stake following a private placement exercise by the latter involving 29.87 million shares at 12 sen apiece. A Feb 2 filing shows 555 Capital offloaded four million shares on Jan 29 at undisclosed prices, paring its stake to 8.44% or 20 million shares.

AE Multi’s net loss widened to RM3.12 million in the year ended Dec 31, 2015 (FY2015), compared with RM1.03 million in the preceding year.

Over at flight training course provider APFT Bhd, 3.2% of its shares changed hands in block trades during the period under review at between 7.5 sen and 8 sen apiece. The stock was trading at between 6 sen and 8.5 sen during the period. The buyers and sellers are unknown.

A March 3 filing shows that APFT’s largest shareholder Datuk Faruk Othman was forced to sell 810,000 shares at 6 sen apiece on March 2, cutting his direct interest to 21.1%. He is deemed interested in a 0.18% stake through his family. The reason for the forced sale was not stated. A Feb 29 filing shows he had to sell 2.12 million shares at 7 sen and 1.5 million shares at 6.9 sen on Feb 26.

APFT’s financial results for 9MFY2016 showed accumulated losses of RM40.71 million, cutting its total equity to RM38.95 million.

On March 4, Econpile Holdings Bhd saw 10 million shares or a 1.87% stake change hands in three direct deals for RM10.5 million or RM1.05 apiece, a 0.94% to 1.87% discount to the RM1.06 and RM1.07 apiece they were fetching on the open market.

The shares were sold by Econpile’s largest shareholders The Cheng Eng and Pang Sar to unnamed institutional investors. Following the disposal of the five million shares each, The’s shareholding in the piling and foundation construction company was reduced to 32.74% from 33.67%, while Pang’s dropped to 31.82% from 32.77%. At last Wednesday’s RM1.06 close, Econpile shares had appreciated 38% from its 52-week low of 76.8 sen on Aug 25, 2015.

Meanwhile, Globetronics Technology Bhd saw four million shares change hands in crossed trades at RM5.60 apiece on March 2.

Filings show that the Employees Provident Fund (EPF) acquired 4.17 million shares or 1.48% equity interest on March 2 at undisclosed prices. The acquisition increases the EPF’s shareholding in the contract manufacturer of semiconductor-based products and services to 9.76%. At last Wednesday’s close of RM5.35, Globetronics shares were down 17.7% year to date.

Lee Swee Kiat Group Bhd saw 3.18 million shares or a 1.89% stake change hands in a direct deal on March 8 at 27 sen apiece, 3.57% below the 28 sen they were fetching on the open market.

At TSR Capital Bhd, three million shares or a 1.72% stake changed hands in a direct off market deal on March 8 at 52 sen per share, 1.89% below the 53 sen apiece they were fetching on the open market. There were no announcements of substantial shareholding changes at the time of writing. 

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