BETWEEN April 1 and 7, a total of 628.32 million shares worth RM971.39 million changed hands off market in blocks of at least 500,000 shares.

Niche Capital Emas Holdings Bhd, notably, saw 32.4 million shares change hands at 10.5 sen — a sizeable discount to the prevailing market price of 18 sen — on April 3. This happened again on April 7 when 4.57 million shares changed hands at 10.5 sen, bringing the total shares done at a discount to market price to 36.97 million or a 15.86% stake. The parties involved in the transactions are unknown.

Bursa Malaysia filings show that Julian Foo Kuan Yin emerged as a substantial shareholder in Niche Capital with 36.97 million shares or a 15.86% stake after acquiring the stock on March 23. In early March, the company saw the emergence of another new shareholder, Pang Ling, who had acquired an 8.84% stake on Feb 26.

Niche Capital (fundamental: 0.75; valuation: 0.60), which manufactures and sells gold jewellery and ornaments, on March 20 received an extension to Sept 24 to complete its proposed placement exercise. The goldsmith has been making losses since 2012 but in its Dec 31, 2014, financial statement, it reported a net profit of RM478,000 compared with a net loss of RM10.14 million in the previous year. The company completed a debt settlement exercise last December through the issuance of 115.1 million shares to four creditor banks and expects to be discharged from the debt by May.

During the week in review, 50 million shares or a 5.9% stake in Eduspec Holdings Bhd changed hands. The RM11 million worth of shares were transacted in a direct trade on April 7. Eduspec (fundamental: 2.6; valuation: 0.50) provides IT literacy materials for primary and secondary schools. In February, the company proposed to place out a 10% stake to raise between RM23.75 million and RM35.35 million for working capital and expansion purposes. It recently announced that the private placement of 76.62 million shares to an independent third-party investor was completed.

Eduspec’s shares had gained 56% from 25 sen on Jan 2 to 39 sen as at last Wednesday. In its first quarter ended Dec 31, 2014, the company’s net loss shrank to RM3.38 million from RM3.79 million in the previous corresponding period while revenue grew to RM8.34 million from RM4.85 million previously.

During the week, investment holding company Olympia Industries Bhd saw 58.79 million shares or 5.7% equity interest change hands in direct and block trades. Its subsidiaries are engaged in property investment and development, stockbroking, gaming, travel and tours as well as restaurant operations. At this juncture, the parties involved in the transactions are unknown.

Olympia (fundamental: 0.20; valuation: 1.20) has been trading between 21.5 sen and 12 sen over the last year. It slipped into the red in the last two quarters of its financial year ending June 30, 2015. In its recent quarter ended Dec 31, 2014, net loss widened to RM6.38 million from RM1.05 million a year ago.

Bambo product manufacturer and supplier Kanger International Bhd (fundamental: NA; valuation: NA) saw 20 million shares or a 3.9% stake change hands in direct deals worth RM9 million during the week. Filings reveal that CEO and managing director Leng Xingmin disposed of 20 million shares at 45 sen apiece on April 6, reducing his stake to 40.19%, but he remains the company’s largest shareholder. The buyer of the shares is not immediately known. On March 10, Leng sold 43.3 million shares at 38 sen apiece off market, separate filings show.

Kanger’s shares hit a high of 47 sen on Jan 29 but had fallen 12.8% to 41 sen as at last Tuesday. Net profit in the fourth quarter ended Dec 31, 2014, increased fivefold to RM1.92 million from RM334,000 in the previous year while revenue rose to RM19.68 million from RM16.74 million.

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 April 13 - 19, 2015.

Save by subscribing to us for your print and/or digital copy.

P/S: The Edge is also available on Apple's AppStore and Androids' Google Play.