BETWEEN June 10 and 16, about 398.17 million shares worth RM668.16 million were transacted off market in blocks of at least 500,000. Notable transactions included the acquisition of 28.85 million shares or 7.53% in Dataprep Holdings Bhd (fundamental: 1.35; valuation: 0) by its largest shareholder VXL Holdings Sdn Bhd on June 12.

According to a June 16 filing, VXL paid 20 sen apiece, just above the 19 sen the shares fetched on the open market. This raised its interest in the IT and data centre solution provider to 60.62%. VXL is controlled by Dataprep executive director and chief strategy officer Datuk Lim Chee Wah, the youngest son of Genting Group’s founder, the late Tan Sri Lim Goh Tong.

For the financial year ended March 31, 2015 (FY2015), Dataprep booked a net loss of RM4.24 million, which was lower than the RM5.09 million net loss in the preceding financial year. Its shares closed at 19.5 sen last Wednesday.

Sabah-based manufacturer of plywood and lumber, Focus Lumber Bhd (fundamental: 1.45; valuation: 1.80), saw 7.93 million shares or a 7.68% stake transacted off market in direct deals on June 15 and 16. At RM1.30 apiece, the shares were at a discount to the market price of RM1.31 to RM1.35.

A June 17 filing showed that executive director Yang Sen bought 1.23 million shares or a 1.19% stake at RM1.30 apiece on June 15. Focus Lumber earned RM3.32 million in its first quarter ended March 31, 2015 (1QFY2015), down 18.8% from the previous corresponding quarter.

SHH Resources Holdings Bhd (fundamental: 2.50; valuation: 1.40) saw 5.58 million shares or an 11.16% stake change hands in three direct deals at RM1.40 apiece on June 15. This was at a premium to the market price of RM1.28 on June 12. The stock was not traded on June 15.

The buyer of the shares was Datuk Teo Wee Cheng, who, with his wife Datin Teo Chan Huat, is SHH’s largest shareholder with a 28.7% stake. The board had previously denied reports that Heveaboard Bhd (fundamental: 2.10; valuation: 1.40) was buying SHH, though it said the two companies were exploring a collaboration. SHH makes solid wood furniture while Heveaboard produces particle board-related products.

At Pesona Metro Holdings Bhd (fundamental: 2.10; valuation: 1.10), some 6.89 million shares or 1.15% of its share base was transacted off market on June 16 at 19 sen apiece. On June 15, some 1.04 million shares changed hands at 18 sen apiece in direct deals. The buyers and sellers were unknown as at last Wednesday.

Pesona Metro secured several construction contracts worth a total of RM440 million recently, including one to build a 17-storey office block and two blocks of small offices/home offices in Cyberjaya. In 1QFY2015 ended March 31, its net profit rose to RM3.23 million from RM753,000 in the previous corresponding quarter. Its shares closed at 56 sen last Wednesday, up 45.5% from 38.5 sen a year ago.

At loss-making Milux Corp Bhd (fundamental: 1.20; valuation: 0.30), some 3.75 million shares or a 6.89% stake was transacted off market on June 12 and 16 at RM1.40 apiece. On May 15, Milux saw the emergence of RGF Land Sdn Bhd as a substantial shareholder after the latter acquired six million shares or an 11.03% stake at RM1.20 apiece. RGF Land increased its stake to 13.78% on June 2. Milux closed at RM1.09 on June 12 and was not traded between June 15 and 17.

Property developer Sunsuria Bhd (fundamental: 2.50; valuation: 0.40) saw 1.55 million shares or a 0.98% stake transacted off market on June 16 at RM1.89 apiece. On June 15, substantial shareholder Datuk Ter Leong Yap acquired 555,000 shares or a 0.35% stake via a direct deal off market at RM1.92 apiece, filings showed. Sunsuria closed at RM1.81 last Wednesday, down 8.6% from its recent high of RM1.98 on May 19 but 20.7% above its RM1.50 level in early April.

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, The Edge Malaysia Weekly, on June 22 - 28, 2015.

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