Thursday 28 Mar 2024
By
main news image

This article first appeared in Capital, The Edge Malaysia Weekly on May 1, 2017 - May 7, 2017

BETWEEN April 19 and 25, about 870.78 million shares worth RM1.15 billion changed hands off market in blocks of at least 400,000 shares.

S P Setia Bhd saw 15 million shares change hands in a direct deal on April 19 at RM3.68 apiece — a 1.1% premium to the RM3.64 apiece they were fetching on the open market. On April 25, another 13.52 million S P Setia shares were sold in a single direct deal at RM3.67 apiece, similar to the RM3.67 to RM3.68 they were going for on the open market.

These trades were done after S P Setia’s major shareholder, Permodalan Nasional Bhd, said on April 14 that it will merge S P Setia with I&P Group Sdn Bhd, another property developer it owns. The merger will make the enlarged entity one of the largest property companies in the country with a land bank of almost 10,000 acres. On April 18, S P Setia said it was successful in its bid to buy a 1.87ha parcel in Singapore’s Toh Tuck Road for S$265 million (RM836 million) where it plans to build a five-storey luxury condominium with a gross development value of S$457 million.

Over at N2N Connect Bhd, some 17.78 million shares, or a 3.8% stake, were traded at 77 sen each on April 20. At press time, it is not known who acquired or sold the shares.

The Tan Sri Khoo Kay Peng-controlled Malayan United Industries Bhd also saw active off-market trades, with 9.36 million shares worth RM2.22 million changing hands at 22.5 sen to 25 sen each. The chairman and CEO was recently ordered to pay his ex-wife £64 million (RM358.6 million) in a divorce settlement after a lengthy court battle.

For its financial year ended June 30, 2016 (FY2016), MUI saw a net loss of RM136.54 million on the back of RM686.2 million in revenue. The losses were largely due to exceptional items, namely RM78.6 million in non-cash impairment of goodwill on consolidation and a RM14.4 million foreign exchange loss from its retailing division, its annual report shows.

At Bio Osmo Bhd, 90 million shares changed hands at RM7.2 million or eight sen per share on April 20.

Filings show that the 12.45% stake was disposed of by Datuk Mohd Ibrahim Mohd Noor via a direct business transaction to Datuk Seri Ismail @ Farouk Abdullah. On the same day, Mohd Ibrahim sold another five million Bio Osmo shares on the open market for 10 sen apiece and ceased to be a shareholder.

Ismail now has a 21.57% stake in the loss-making bottled water and hospitality group. Bio Osmo shares reached a one-year high of 11.5 sen on April 25 but retreated, closing at 10.5 sen last Wednesday.

At NetX Holdings Bhd, 11.73 million shares worth RM467,000 changed hands at 3.5 sen to 4.5 sen apiece. Of the total, 10.43 million shares were transacted at four sen apiece, which is within the 3.5 sen to 4.5 sen price band that the stock had been trading at over the period.

The stock recently ran up to a six-month high of 4.5 sen after NetX announced that its subsidiary, PayAllz Sdn Bhd, will collaborate with XOX Wallet Sdn Bhd to develop an electronic payment mobile exchange to enable XOX Bhd subscribers to be e-commerce merchants.

Dialog Group Bhd, meanwhile, saw 14.4 million shares cross at RM1.80 apiece on April 20 and 21. Part of this activity may have been trades by institutional funds.

On April 20, the Employees Provident Fund sold 3.06 million Dialog shares and acquired 919,700.

On April 25, Kumpulan Wang Persaraan bought two million Dialog shares on the open market at undisclosed prices.

Dialog’s share price recently rose to a two-year high. It closed at RM1.90 last Thursday.

 

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.

      Print
      Text Size
      Share