This article first appeared in The Edge Malaysia Weekly, on May 16 - 22, 2016.

FROM May 4 to 10, 304.03 million shares worth RM578.25 million were traded off market in blocks of at least 500,000 shares.

Notable transactions included the sale of a 8.7% stake in NWP Holdings Bhd by its ultimate holding company Sepang Heights Sdn Bhd — a private vehicle of the group’s executive director Wong See Ming — for a total transaction value of RM7.02 million.

According to stock market data, NWP saw 28.1 million shares or 8.7% equity interest change hands in four direct deals on May 4 and 5 at 25 sen per share, which was 35% and 41% below the market price of 38.5 sen and 42.5 sen respectively at the time.

A total of 20.7 million shares were traded for a total of RM5.17 million on May 4 and another 7.4 million shares for RM1.85 million on May 5.

The seller was likely Sepang Heights, which has offloaded 28.1 million shares or an 8.7% stake via off-market transactions, according to an NWP filing with Bursa Malaysia. However, the transacted price was not disclosed.

Interestingly, a filing shows that Wong was redesignated from CEO to executive director on May 6. Sepang Heights continued to dispose of NWP shares, hiving off 986,100 shares on May 6, 1.73 million shares last Monday.

Following the shares disposal, Sepang Heights remains a substantal shareholder with a 40.48% direct stake, according to Bursa filings.

It is worth noting that on April 22, Cashflow Budget Sdn Bhd, another private vehicle linked to Wong, ceased to be a substantial shareholder of NWP after selling off its entire 8.5% stake, or 27.2 million shares, at 25 sen apiece.

Subsequently, Datuk Seri Nelson Kee Soon Ling surfaced as a substantial shareholder in NWP, after acquiring 36.74 million shares or an 11.48% stake off market on May 4. Two days later, he was appointed executive director.

Over at SKP Resources Bhd, the electronics manufacturing service provider saw 11 million shares or a 0.97% stake change hands in a single direct deal at RM1.32 per share on May 10, 1.5% below the RM1.34 apiece they fetched on the open market then. The block was valued at RM14.52 million.

It is believed that the sellers were SKP executive chairman and managing director Datuk Gan Kim Huat and his son Ivan Gan Poh San, who is the group’s executive director.

Zenith Highlight Sdn Bhd, one of their family vehicles, had sold 11 million shares at RM1.32 apiece on May 10 via a direct deal, according to a filing with the stock exchange.

Meanwhile, Ekovest Bhd saw 18.7 million shares, or a 2.19% stake, transacted at RM27.7 million. The integrated construction, property development and infrastructure group is owned by tycoon Tan Sri Lim Kang Hoo.

Stock market data shows a total of 11 direct deals from May 4 to 6, ranging from RM1.40 to RM1.55 a share.

The parties involved in the transactions were not known at press time.

A total of 12 million shares, or a 4.96% stake, in Advance Information Marketing Bhd (AIM) changed hands at 17 sen per share in a direct deal on May 4. AIM is a regional business process outsourcing solution provider.

The parties involved were not known at the time of writing.

At integrated poultry firm D.B.E. Gurney Resources Bhd, 28.52 million shares, or a 3.39% stake, changed hands in two direct deals at four sen apiece on May 9, for a total of RM1.141 million.

Executive chairman and co-founder Datuk Ding Chong Chow ceased to be a substantial shareholder last Monday after offloading 28.52 million shares at four sen each.

On the same day, group managing director Datuk Ding Seng Huat picked up 25 million shares off market. He is the son of Ding Choon Yung, who is a co-founder of D.B.E. Gurney Resources. 

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