BETWEEN June 17 and 23, some 843.43 million shares worth RM818.22 million were traded off market in blocks of at least 450,000.

On June 23, Frontken Corp Bhd (fundamental: 2.20; valuation: 0.90) saw 290.99 million shares or a 27.8% block cross off market in a direct deal at 19 sen apiece. That works out to a discount of 31% to its closing price of 27.5 sen on the same day.

A June 24 filing shows the seller to be German citizen and non-executive director Jorg Helmut Hohnloser, who was the mechanical engineering services provider’s largest shareholder at the time of the disposal. The buyer was not revealed. Another 7.6 million Frontken shares changed hands between June 17 and 23 in smaller blocks at between 24 and 28 sen per share, stock market data shows.

Multi Sports Holdings Ltd (fundamental: 1.45; valuation: 2.10) saw an 80 million block of shares change hands off market at 11 sen apiece in a married deal on June 17. That valued the 15.5% stake in the China-based sports shoe maker at RM8.8 million. The transacted price was just below the 11.5 sen the shares closed at on the open market.

According to a June 19 Bursa filing, the group’s largest shareholder, Power Wide Holdings Ltd, dealt with 80 million shares on the same day and had an 18.575% stake after the married deal. As at October 2014, Power Wide held as much as 40.66% of the company but that fell to 34.03% as at April 30. Note that executive chairman Lin Huozhi controls Power Wide. Also, Multi Sports is still profitable, although its earnings have been on the decline, falling 36.7% year on year to RM6.16 million in the first quarter of this year.

Meanwhile, 152 million Eco World Development Group Bhd (fundamental: 0.45; valuation: 0.90) shares changed hands in a single direct deal off market on June 19 at RM1.53 apiece or a total of RM232.6 million. The 6.43% stake in the property developer changed hands about 2.5% below the open market price of RM1.57 that day. No substantial changes in shareholders had been disclosed to Bursa at the time of writing.

On June 18, Alam Maritim Resources Bhd (fundamental: 1.60; valuation: 1.50) saw 19.4 million shares or 2.1% equity interest change hands off market in a single direct deal at 55 sen apiece. This was just below the 55.5 sen to 56 sen the stock fetched on the open market at the time, stock market data shows. On June 23, the company announced that its jointly controlled entity, Alam Swiber Offshore (M) Sdn Bhd, had signed an agreement with Chevron Malaysia Ltd on a RM22 million contract for pipe replacement.

Other notable transactions include that at Salcon Bhd (fundamental: 1.65; valuation: 1.20), which saw 8.52 million shares cross off market at 81 sen apiece in a single direct trade on June 23. That works out to a 1.24% stake worth RM6.9 million. The transaction also took place at a slight 3.5% discount to Salcon’s closing price of 84 sen on the same day.

Top Glove Corp Bhd (fundamental: 2.50; valuation: 1.10) saw 9.83 million shares or a 1.59% stake worth RM63.2 million change hands in a mix of block and cross trades during the period under review.

On June 19, Tadmax Resources Bhd (fundamental: 0.60; valuation 0.90) saw a block of five million shares or a 1.12% stake cross off market in a direct trade worth RM1.7 million or 34 sen apiece. This was just above the open market price of 33.5 sen that day. According to a Bursa filing, managing director Anuar Adam acquired the shares, increasing his holding to 26.21%.

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 29 - July 5, 2015.

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