This article first appeared in Capital, The Edge Malaysia Weekly, on December 14 - 20, 2015.

SOME 615.5 million shares valued at RM978.15 million were traded off market in blocks of at least 450,000 shares from Dec 2 to 8.

Among the notable transactions were those at Green Packet Bhd, White Horse Bhd, Bertam Alliance Bhd and Sycal Ventures Bhd.

Green Packet saw some 109.9 million of its shares — equivalent to a 16.03% stake — change hands off market on Dec 4.

The shares in the telecommunications company were transacted in three direct deals at 30 sen each or RM33 million in total.

Green Packet (fundamental: 0.35; valuation: 0) closed at 29 sen on the same day, indicating that a premium of 3.4% was paid for the off-market trades.

According to filings with Bursa Malaysia, Tan Sri Ong Leong Huat — through his private vehicle OSK Technology Ventures Sdn Bhd — was the seller of the shares. However, as at press time, it is not known who the buyer was.

With the sale, Ong ceases to be a shareholder in Green Packet.

Over at White Horse (fundamental: 1.25; valuation: 2), the ceramic maker saw 13 million of its shares or a 5.67% stake transacted in a single direct deal on Dec 3. The shares were priced at RM29.9 million or RM2.30 apiece, a 1.3% discount to the market price of RM2.33 on the same day.

There was no filing about the parties involved in the transaction as at press time.

On Dec 4, Bertam Alliance saw 10 million shares or 4.84% equity interest move off market in two direct deals.

The shares were transacted at RM5.6 million or 56 sen each — a 3.4% discount to the stock’s closing price of 58 sen that day.

It is not known who the transacting parties were. Lim Nyuk Foh, managing director of Bertam Alliance (fundamental: 1.05; valuation: 1.70), has been raising his stake in the company since purchasing 5.8% equity interest in April. With his latest acquisition on Nov 19, he now has a 24% stake in the property developer.

Elsewhere, some 15.4 million shares or a 4.8% stake in Sycal Ventures was traded off market on Dec 7. Transacted in a single direct deal, the shares were exchanged at RM4.15 million or 27 sen each — a steep 35.7% discount to the market price of 42 sen last Monday.

There was no filing as at press time, but Sycal Ventures (fundamental: 0.80; valuation: 2.10) has seen a total of 25% of its shares change hands in direct business deals since early October, all at sharp discounts.

Fantastic Hallmark Sdn Bhd emerged as a shareholder in the company on Oct 2 with a 5.3% stake. Today, it has 16.67%. A month later, Westhill Capital Sdn Bhd entered the construction and property counter with a 8.33% stake.

Hunza Properties Bhd saw 10.5 million of its shares or a 4.66% stake change hands in a single direct transaction last Monday. The shares were priced at RM29.87 million or RM2.845 apiece — a marginal 0.5% premium to the counter’s closing price of RM2.83 last Monday.

Filings with Bursa show that the shares were sold by Lembaga Tabung Haji. It is unclear who the buyer was.

Last month, shareholders of Hunza (fundamental: 1.15; valuation: 1.10) approved the privatisation of the company by its major shareholder Khor Teng Tong Holdings Sdn Bhd, which — together with parties acting in concert with it — holds 59% equity interest.

The Media Shoppe Bhd saw 19.15 million shares or a 3.52% stake move off market between Dec 2 and 7. The shares were transacted at 9 sen to 9.5 sen apiece in a series of direct deals and a block trade.

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