BETWEEN Jan 18 and 24, a total of 556.81 million shares valued at RM1.54 billion changed hands off market in blocks of at least 450,000.
Among notable trades were those at ML Global Bhd, which saw nine million shares, or 2.52% of its equity interest, cross off market during the week. Eight million shares changed hands in two direct deals on Jan 18 at 82 sen, below the market price of 84 sen at the time, while another one million shares changed hands at 85 sen on Jan 20, matching the open market prices.
Filings with Bursa Malaysia showed that LBS Bina Group Bhd sold eight million ML Global shares on Jan 18, while the transacting parties for the remaining one million shares on Jan 20 remain unknown.ML Global is 56%-owned by LBS Bina. Just under a year ago, ML Global shed its six-year-old PN17 status after LBS Bina entered as its strategic investor.
Last December, the former appointed Datuk Lim Lit Chek as executive director and CEO of the construction company, replacing Chew Wee Seong, who was redesignated as chief operating officer. Lim is the founder of MITC Engineering Sdn Bhd, which ML Global recently acquired.
ML Global’s third quarter ended Sept 30, 2016 (3QFY2016) net profit was flattish at RM1.94 million compared with RM1.93 million a year ago. Revenue declined to RM9.54 million from RM10.78 million previously. Over a period of one year, the share price has been hovering between RM1.40 and RM1.70 apiece.
Over at SKP Resources Bhd, a total of 18 million shares, or 1.52% of its stake, changed hands off market on Jan 23 for RM24.12 million. Filings with Bursa showed that Datuk Gan Kim Huat disposed of the shares via a married deal at RM1.34 apiece through Graceful Assessment Sdn Bhd. The price was within the RM1.33 to RM1.35 range that the stock fetched on the open market that day.
Post-disposal, Graceful Assessment still had 7.4% holdings. The plastic parts and components manufacturer saw net profit rise to RM22.72 million in its 2QFY2016 ended Sept 30 from RM18.41 million a year ago as revenue increased to RM456.45 million.
The week also saw off-market transactions at several real estate investment trusts (REITs).
Al-’Aqar Healthcare REIT saw 10.97 million units, equivalent to 1.51% of its stake, change hands in crossed trades between RM1.53 and RM1.57 on Jan 18 and 24. Parties involved were unknown at the time of writing. Al-’Aqar Healthcare REIT’s portfolio includes KPJ Hospitals in Malaysia.
In November, the REIT announced that it was selling a 5,156 sq m piece of freehold land together with the 27-storey Hotel Selesa and the 31-storey Metropolis Tower office building in Johor Baru to privately held Optimum Impress Sdn Bhd for RM100 million cash. The bulk of the proceeds from the disposal was used to repay bank borrowings and for working capital and potential future acquisitions.
Meanwhile, Axis Real Estate Investment Trust saw 14 million units or a 1.27% stake, cross hands in direct trades on Jan 19 and 20 at RM1.66 apiece or RM23.24 million in total. The buyers and sellers were not immediately known.
Recently, the REIT said that it expects its total assets under management to grow by more than 10% for the financial year ending Dec 31, 2017, contributed by the completion of Phase 1 of Axis PDI Centre and several other acquisitions it is eyeing. Axis REIT is targeting to acquire four more assets in Selangor, Pahang and Johor with a combined asset value of RM400 million.
At MRCB-Quill REIT, 11.56 million units, or a 1.08% stake, changed hands for between RM1.31 and RM1.35 apiece in a mix of direct, crossed and block trades during the week. For the financial year ended Dec 31, 2016, the REIT’s net property income rose to RM107.16 million from RM95.39 million a year ago. Total income for distribution expanded to RM59.16 million as revenue increased to RM136.65 million.
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