This article first appeared in Capital, The Edge Malaysia Weekly on March 12, 2018 - March 18, 2018

ON March 6, AE Multi Holdings Bhd, a printed circuit board maker, saw a total of 56.39 million shares or an 18.8% stake worth RM7.89 million change hands through direct deals. According to Bloomberg data, the shares were transacted in seven blocks at 14 sen per share, its closing price that day. Neither the buyer nor the seller’s identity were disclosed. Year to date, AE Multi’s share price has fallen 10%, closing at

13.5 sen last Wednesday and giving it a market capitalisation of RM40.4 million.

At Industronics Bhd, the high-technology systems provider saw 17.63 million shares or a 17.2% stake change hands off market for RM2.82 million on March 1. The shares were transacted at 16 sen per share — representing an 11% discount to its closing price of 18 sen — in a single direct deal.

Bursa Malaysia filings show that Sunny Luck International Ltd, an offshore company incorporated in British Virgin Islands, is no longer a substantial shareholder of Industronics after it disposed of 17.63 million shares or 17.2% direct interest on March 1. At press time, it was not clear who the buyer was.

Year to date, Industronics’ share price has risen 10%, closing at 16 sen last Wednesday and giving it a market capitalisation of RM16.4 million.

Euro Holdings Bhd, which specialises in office furniture, saw 27.18 million shares or a 10.17% stake cross in a block trade and two direct deals for RM8.66 million between Feb 28 and March 2. The shares were traded off market at between 28.5 sen and 32 sen apiece.

Interestingly, businessman Liew Fook Meng ceased to be a substantial shareholder of the company after divesting four million shares on the open market on Feb 27. However, he resurfaced as a substantial shareholder on March 2 after acquiring 26 million shares or a 9.72% stake through Jingzeng Holdings Sdn Bhd, which he co-owns with Tan Sri Richard Koh Kin Lip, a prominent businessman in Sandakan, Sabah. Liew is executive director and co-founder of Cocoaland Holdings Bhd.

The seller of the block of 26 million shares is believed to be Datuk Seri Jeffrey Tong Yuen Keong , who remains a substantial shareholder with 30.72 million shares or an 11.49% direct stake.

On March 1, plastic parts manufacturing and property development company Acme Holdings Bhd saw 19.98 million shares or a 9.53% stake cross off market for RM6.79 million.Bloomberg data shows the shares being traded in two blocks at 34 sen apiece, which was at a 13.3% premium to its last closing price of 30 sen on Feb 27. The stock was untraded on March 1.

Supptech Holdings Sdn Bhd — the private vehicle of Datuk Seri Dr Lee Kuang Shing, Datin Seri Tan Siew Hong and Khaw Hooi Huang — sold 19.98 million shares in Acme Holdings on March 1, but it remains a substantial shareholder with 88.09 million shares or a 42% stake. Nada Wangi Sdn Bhd — a Penang-based firm co-owned by director Ooi Soon Hong and Husalmi Suhaini Shaikh Hussain — bought the 19.98 million shares, raising its direct stake in Acme Holdings to 29.99%.

Chin Hin Group Bhd, a home-grown building material specialist that debuted on Bursa two years ago, saw 22.2 million shares or a 3.99% stake cross off market in two direct deals on March 1. The shares were transacted at between RM1 and RM1.15 apiece.

According to Bursa, 20 million shares were acquired by Datuk Seri Chiau Beng Teik on March 1 from Divine Inventions Sdn Bhd.

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