This article first appeared in The Edge Malaysia Weekly, on July 25 - 31, 2016.

FROM July 13 to 19, some 870.85 million shares worth RM983.88 million changed hands off-market in blocks of at least 400,000 shares.

The single largest transaction by volume and value was a direct deal of shares in Mah Sing Group Bhd on July 18. On the day, 180 million of the property developer’s shares changed hands off market at RM1.55 apiece, valuing the block at RM279 million.

The shares were transferred between the private vehicles of Mah Sing group managing director Tan Sri Leong Hoy Kum. After moving 180 million shares or a 7.47% stake from Mayang Teratai Sdn Bhd to Mayang Teratai Ltd, Leong’s effective equity interest in Mah Sing remains at 35%. The transfer was done to “optimise the efficiency” of his shareholding structure, according to filings.

The transaction price of RM1.55 per share is based on the five-day volume weighted average market price of Mah Sing’s shares up to July 15 — the last trading day prior to the transfer, filings show. The price was also the one-year high level for the counter.

During the period under review, one of the larger transactions by volume took place in Sarawak-based shipping services firm Hubline Bhd, which saw some 104.5 million shares worth RM1.02 million traded in various block, direct and crossed trades on July 13, 14 and 19.

This included a single block of 100 million shares that was exchanged in a direct deal on July 14 at one sen apiece. The stock has largely seen thin trading volumes in recent months at prices between 0.5 sen and 1.5 sen. The off-market trade of Hubline’s shares comes amid a proposal by the company on July 18 for a capital restructuring exercise.

Another company that saw its top management transact shares during the period is Press Metal Bhd.

Filings show that the company’s co-founder and group CEO, Datuk Paul Koon Poh Keong, increased his stake by two million shares on July 15.

Off-market data shows that the two million Press Metal shares changed hands in a direct deal worth RM7.86 million. The transaction price of RM3.93 apiece represents a slight 2.48% discount to the day’s closing price of RM4.03.

The counter climbed to a five-year high of RM4.17 on July 18. After the transaction, Koon has a direct 17.08% and indirect 26.59% stake in Southeast Asia’s largest aluminium producer.

Other noteworthy off-market trades include those at property firm Mulpha International Bhd and media company Media Prima Bhd.

On July 18, there was a direct deal of 60 million Mulpha shares, or a 1.88% stake, at 23 sen per share or RM13.8 million in total. The 23 sen price tag is only a slight premium to the counter’s five-year low of 22 sen on July 12.

On July 19, over 9.04 million Media Prima shares were done in a direct deal. The transaction price was RM1.45 apiece, valuing the block at RM13.1 million. At press time, it is uncertain who transacted the shares.

Over at Trive Property Group Bhd, a total of 11.95 million shares valued at RM1.04 million were traded in various block and direct deals from July 13 to 19. The transacted prices were between 8 sen and 9.5 sen, in line with the intraday trading prices of the week.

Elsewhere, some 20.28 million shares worth RM5.4 million in Vivocom International Holdings Bhd were done in many block deals between July 13 and July 19. The shares were transacted at 26 sen to 28 sen during the period. 

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