This article first appeared in Capital, The Edge Malaysia Weekly on April 24, 2017 - April 30, 2017

A total of 816.72 million shares worth RM1.51 billion changed hands off market in blocks of at least 500,000 shares between April 12 and 18.

Ark Resources Bhd saw 9.05 million shares, or a 18.6% stake, transacted off market for RM4.52 million, or 50 sen apiece, on April 14 and 17 in two direct deals.

Cabaran Cendawan Sdn Bhd disposed of 4.05 million shares on April 14, likely to Datuk Mohamad Zekri Haji Ibrahim and Mohamad Adzrill Abu Bakar. Filings with Bursa Malaysia show the duo acquired 4.05 million shares on April 14 via their vehicle, Lakaran Asia Sdn Bhd, on the same day. Liakat Ali Mohamed Ali, a former Penang municipal councillor, was also appointed as non-executive director. The direct deal of 4.05 million shares was the only Ark trade for the stock which did not see any open market trading that day.

Another five million shares were sold by Tunas Enterprise Sdn Bhd on April 17 at 50 sen apiece. Only 28,800 shares changed hands on the open market that day. The company’s share price hit 59.5 sen on April 18 before settling at 56 sen last Wednesday.

At the same time, Boon Koon Group Bhd saw 40 million shares, or 14.45%, change hands off market for RM18 million on April 17. The shares crossed at 45 sen apiece in two direct transactions — one block of 35 million shares and another block of five million shares in the company that remanufactures commercial vehicles. Boon Koon closed at 50 sen last Wednesday.

Filings show Datuk Seri Chiau Beng Teik acquiring these shares. He also picked up another 2.03 million shares on the open market to give him a 20.03% stake in the loss-making company.

It is interesting to note that ­executive chairman Datuk Goh Boon Koon transferred 40 million shares to his personal account from an Affin Hwang Nominees (Tempatan) Sdn Bhd account, and subsequently disposed of the shares off market. He retains an 8.56% stake.

At Gabungan AQRS, some 18.65 million shares changed hands off market in three direct deals at RM1.17, or RM21.8 million in total, on April 17. Another 448,900 shares also changed hands at RM1.17 that day, stock market data show. The transaction price was at a discount to the RM1.18 to RM1.20 apiece the stock fetched on the open market the same day. The shares are believed to have been disposed of by Lim Ann Kok, a former substantial shareholder.

At the same time, Peterlabs Holdings Bhd saw 24 million shares, or a 11.61% stake, change hands for RM6.96 million, or 29 sen apiece, in eight direct deals off market between April 12 and 13. This is at the lower end of the 29 sen to 31 sen apiece the stock fetched on the open market.

The company’s directors — Lim Tong Seng, Teo Chin Heng and Lau Yeng Khuan — respectively disposed of eight million, eight million and two million shares on April 12. Filings show Fatfish Ventures Sdn Bhd acquiring 16 million shares on April 12.

Separately, PanPages Bhd saw 20.57 million shares, or a 8.5% stake, worth RM6.18 million traded off market in four blocks on April 18. One block of 570,000 shares crossed at 32 sen each. On April 18, PanPages’ share price shot up to 36.5 sen on thin volumes. The next day saw a surge in trading volume, but the stock fell to close at 34 sen.

Meanwhile, 7-Eleven Malaysia Holdings Bhd saw 76.9 million shares trade off market for RM119.3 million on April 12 and 18. Of these, 39 million shares changed hands at RM1.55 each in a single direct deal on April 18.

Filings show private equity fund Creador disposing of 20 million shares on April 12, via Isotrema Sdn Bhd. On April 12, 20 million shares changed hand in two direct deals at RM1.60 apiece.

Tan Sri Vincent Tan undertook a left-hand to right-hand transfer of 18 million shares on April 12 as well. On April 12, 18 million shares changed hands at RM1.50 apiece in two direct deals.

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