BETWEEN Aug 11 and 17, 608.43 million shares changed hands in off-market transactions worth RM608.43 million.

Dagang NeXchange Bhd (DNex) saw 10% of its share capital, or 1.24 billion shares worth RM31.06 billion, cross off market. The bulk was from a disposal by Censof Holdings Bhd at 25 sen apiece on Aug 17, via a direct business transaction. At press time, it was not known who acquired the shares.

It is interesting to note that the company announced its second-quarter financial results one day earlier on Aug 16. The company posted a spike in net profit to RM94.87 million for the six months ended June 30, up from RM4.38 million last year.

This was mainly driven by partial revenue recognition of a Vehicle Entry Permit contract. Censof retains a 21.33% stake in DNex and is still its largest shareholder.

DNex’s share price closed at 24 sen last Wednesday.

Datasonic Group Bhd saw 64 million shares worth RM86.4 million change hands off market. The block made up a 4.74% stake in the group.

The shares crossed in a single direct off-market trade on Aug 12 at RM1.35 per share. The shares were disposed of by Dibena Enterprise Sdn Bhd, which is controlled by Datuk Abu Hanifah Noordin.

Abu Hanifah retains a 32.455% stake in Datasonic. At press time, the acquirer of the shares had not been announced yet. Another director, Datuk Wan Mohd Safiain Wan Hasan, disposed of 75,000 shares on the same day, but at a slightly higher price of RM1.45. Coincidentally, Datasonic’s share price closed at RM1.45 apiece last Wednesday, up 12.4% in the past one month.

At Nakamichi Corp Bhd, a substantial 7.04% of its share capital crossed off market last week. The 3.9 million shares were worth only RM234,000 and were transacted in a single direct trade on Aug 16, at six sen apiece.

The company’s share price rose as high as 7.5 sen last week, before settling at seven sen on Wednesday.

The block of shares was disposed of by Goh Kheng Peow, a substantial shareholder of the company who retains a 25.9% stake. Goh also transacted a number of share transfers on Aug 18. In total, 10.33 million shares were transferred in five transactions, but it did not affect Goh’s deemed interest in the company.

Destini Bhd saw 31 million shares worth RM19.22 million change hands off market. This 3.11% stake in the company crossed in a single direct trade at 62 sen apiece on Aug 17.

At the time of writing, no announcement had been made as to who disposed of the shares. However, it is interesting to note that the shares were disposed of at a substantial 15.6% discount to Destini’s closing price of 73.4 sen apiece on the same day. Destini’s share price has rallied 31% since end-June.

It is interesting to note that Destini’s substantial shareholder, Freddy Lim @ Lim Nyuk Sang had on July 26 disposed of 11 million Destini shares at 58 sen apiece in a direct off-market transaction. Subsequently, he gradually accumulated 1.51 million shares on the open market in eight smaller blocks. Lim retains 8.1% equity interest in Destini. The company’s largest shareholder and managing director Datuk Rozabil Abdul Rahman retains 27.19%.

Separately, Taliworks Corp Bhd saw 25.3 million shares worth RM37.1 million transacted off market, making up a 2.08% stake. The bulk of the shares crossed on Aug 12, a few days after the company announced a 40.3% surge in net profit for the second quarter ended June 30. The shares crossed for RM1.45 to RM1.48 apiece.

The company declared a second interim dividend of two sen per share along with the results. 

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