SOME 926.47 million shares worth RM1.78 billion changed hands off market in blocks of at least 450,000 shares between July 29 and Aug 4.

Among the notable transactions were those involving China Automobile Parts Holdings Ltd (CAP) (fundamental: 1.95; valuation: 0.90). The company saw just over 108 million shares or a 17.8% stake transacted in three block trades between July 29 and Aug 3.

The off-market trades were priced between 28 sen and 30 sen apiece and are collectively worth RM30.5 million. While the identities of the buyers and sellers had not been disclosed as at Aug 5, the trades were done after CAP obtained approval from Bursa Malaysia on July 29 for a bonus issue comprising 810 million new CAP shares and 259 million new warrants.

Following the corporate exercise, Australia-listed upstream mining firm Siburan Resources Ltd will emerge as a substantial shareholder in CAP upon the completion of a proposed acquisition of a 16.67% stake from CAP’s major shareholder Guotai International Holdings Ltd.

Integrated e-solutions provider iDimension Consolidated Bhd (fundamental: 1.45; valuation: 0.30) saw 27.78 million shares or a 5.61% stake transacted in several block and direct deals between July 29 and Aug 4. The trades were priced between 8 sen and 14 sen apiece.

iDimension’s stock has experienced a strong rally on the open market since last month, having gained from 9 sen on July 14 to a one-year high of 15 sen on Aug 4. Despite reporting a meagre net profit of RM73,000 for the first quarter ended March, compared with RM0.5 million the previous year, the firm’s revenue more than doubled to RM10.78 million in 1QFY2015 from RM4.44 million a year ago.

Condom manufacturer Takaso Resources Bhd (fundamental: 1.65, valuation: 0.00) saw 11.09 million shares change hands in direct and block trades on Aug 3. The shares represent a 5.43% stake in Takaso, which recently reported an increase in net losses after a business diversification move into construction was aborted last April.

The two trades were done at 50 sen and 57 sen, which reflects the stock’s recent volatile movement on the open market. Between July 22 and Aug 3, Takaso’s shares increased from 47 sen to a peak of 58 sen before retreating to their Aug 5 closing price of 53.5 sen.

Another notable trade was seen in Barakah Offshore Petroleum Bhd (fundamental: 1.95 ; valuation : 0.30) where some 13.2 million shares worth RM12.64 million were traded in a series of direct deals between July 29 and Aug 3. This represents 1.61% of Barakah’s total share base.

In spite of falling crude oil prices and the worsening sentiment in the sector, Barakah has managed to outperform its peers in terms of share price as well as earnings growth. At the closing price of 98 sen on Aug 5, its shares have gained 26% to date.

The provider of offshore support vessels reported a net profit of RM15.12 million for the first quarter ended March, compared with RM9.43 million a year ago.

SapuraKencana Petroleum Bhd (fundamental: 0.85; valuation: 0.80) saw 605 million shares or a 10.1% block done in a direct deal on July 31 at RM2.40 apiece or RM1.45 billion in total.

The transactions correspond with a July 31 filing with the exchange which shows the transfer of shares from Khasera Baru Sdn Bhd to Khasera Baru Ltd. Both companies are the private investment vehicles of Tan Sri Mokhzani Mahathir, who owns 10.34% of the integrated oil and gas solutions provider directly and indirectly.

This article first appeared in Capital, digitaledge Weekly, on August 10 - 16, 2015.