SOME 367.34 million shares valued at RM544.52 million were traded off market in blocks of at least 500,000 in the week of Aug 20 to 25.

Notable transactions included ICT security solutions provider Appasia Bhd, which saw 23.35 million shares or an 8.31% stake change hands off market.

Two direct deals took place on Aug 20 and 24 at 14 sen and 13.5 sen apiece respectively. This valued the Appasia (fundamental: 0.6; valuation: 0) stake at RM3.2 million.

The shares were priced at a 22.2% and 20.59% discount to the closing prices of 18 sen and 17 sen on the respective dates.

Filings with Bursa Malaysia indicate that executive director Tong Hong Chye, via his private vehicle Richmond Virginia Tobacco Sdn Bhd, purchased 9.85 million shares at 14 sen apiece on Aug 20 and another 13.5 million shares on Aug 24 at 13.5 sen apiece.

The purchases have raised his indirect stake in the tech company to 5.87%. He holds a 10.67% direct stake.

Filings show that the seller could be Swift Icon Sdn Bhd, which sold 9.85 million Appasia shares on Aug 20 and another 13.5 million on Aug 24, when it ceased to be a substantial shareholder with a 4.8% stake remaining.

On Aug 21, 55.5 million or a 4.36% stake in RCE Capital Bhd (fundamental: 1.25; valuation: 2.0) crossed off market for RM21.37 million.

The shares were traded at 38.5 sen apiece in a direct deal, valuing the block at a 1.28% discount to that day’s close of 39 sen. At press time it was still unclear who the buyer and seller were.

Over at Malayan Flour Mills Bhd (MFM), 19.83 million shares or a 3.68% stake moved off market on Aug 19 and 20.

The shares were traded in two direct deals at RM1.20 each, near the market value of RM1.21 on those dates. The deals were valued at RM23.8 million for the stake.

According to Bursa announcements, MFM managing director Teh Wee Chye bought 16 million shares on Aug 19 at RM1.20 apiece, raising his direct stake to 11.42%, while his indirect stake stood at 7.21%.

The next day, non-executive director Prakash Menon bought into MFM, (fundamental: 0.8; valuation: 2.0) taking up 4.24 million shares or a 0.79% stake at RM1.20 per share.

MFM closed at RM1.20 last Tuesday, a two-year low for the stock that has declined over 20% year to date.

At Sanichi Technology Bhd, 32 million shares or 2.8% equity interest was traded off market on Aug 25.

The shares were transacted in a series of direct deals at six sen per share, valuing the stake at RM1.92 million. Sanichi’s (fundamental: 1.65; valuation: 0.9) shares closed at six sen that day. No announcements had been made at press time.

On Aug 20 and 21, Pesona Metro Holdings Bhd saw some 14 million shares or a 2.21% stake in the company cross off market in a series of direct deals.

The Pesona shares were traded between 49 sen and 57 sen apiece, valuing the stake at RM7.4 million.

It is not clear who the transacting parties were but on Aug 21, Pesona (fundamental: 2.1; valuation: 1.1) announced that it had won a tender worth RM144.17 million to construct a nine-storey hospital block for Bandar Dato’ Onn Specialist Hospital Sdn Bhd in Johor. The project, spanning 15 months, is set to commence on Oct 5, 2015.

Note: The Edge Research’s fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations. Visit www.theedgemarkets.com for more details on a company’s financial dashboard.

This article first appeared in Capital, digitaledge Weekly, on August 31 - Septemberl 6, 2015.