Off-Market Trades: SMTrack Bhd, Media Prima Bhd, Amalgamated Industrial Steel Bhd, Goodway Integrated Industries Bhd, N2N Connect Bhd

This article first appeared in Capital, The Edge Malaysia Weekly, on September 30, 2019 - October 06, 2019.
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BETWEEN Sept 18 and 24, the most notable off-market trade was the change of ownership at SMTrack Bhd — previously known as Smartag Solutions Bhd — which saw 15.414 million shares, or 9.41% equity interest, cross off market between Sept 19 and 24. The shares were transacted at 25 sen to 26 sen apiece, for a total transaction value of RM3.947 million.

Neither the seller nor the buyer had been disclosed at press time as the radio frequency identification (RFID) solutions provider has not made any announcement on shareholding changes since July last year.

According to its 2018 annual report, Datuk Tan Choon Hwa is the single largest shareholder of SMTrack with a 12.49% stake, followed by Sarawak tycoon Datuk Amar Abdul Hamed Sepawi with a 5.83% stake as at Nov 7 last year.

Asia Analytica Data Sdn Bhd had last Tuesday identified SMTrack as a stock with momentum for the second time since July, using a proprietary algorithm.

SMTrack’s share price, which touched a record low of 5.5 sen in February, has more than doubled since the start of the year. The counter closed at 26 sen last Wednesday, giving it a market capitalisation of RM42.6 million.

Media Prima Bhd, which has a presence across newspaper, TV and radio, saw 88.29 million shares or a 7.96% stake cross off market in two direct deals on Sept 19. Bloomberg data indicated that one block of 87.84 million shares and another of 451,200 shares were transacted at 60 sen apiece, for a total value of RM52.98 million.

Aurora Mulia Sdn Bhd, a company linked to tycoon Tan Sri Syed Mokhtar Albukhary, has raised its stake in Media Prima Bhd to 31.22% after acquiring the two blocks of shares.

The seller is British Virgin Islands-incorporated Altima Inc, which is linked to Umno — the backbone of Barisan Nasional.

Shares in Media Prima have risen 41% year to date to close at 48.5 sen last Wednesday, giving the media company a market capitalisation of RM538 million.

Over at Amalgamated Industrial Steel Bhd (AISB), a loss-making steel-related products trader and property developer, 8.297 million shares or a 6.03% stake crossed off market on Sept 23.

Filings with Bursa Malaysia on Sept 24 show that building material supplier Chuan Huat Resources Bhd has disposed of its entire 6.03% indirect stake in AISB to privately held Telaxis Sdn Bhd for RM3.153 million or 38 sen per share.

The disposal will give rise to a gain of RM1.24 million.

AISB executive director Lim Chin Sean is a substantial shareholder of Telaxis.

Meanwhile, Goodway Integrated Industries Bhd, which is involved in the rubber compounding and retreading business, saw six million shares or a 4.94% stake cross off market in two direct deals on Sept 20.

The two blocks of shares were traded at 30 sen apiece, for a total transaction value of RM1.8 million.

A filing with Bursa Malaysia shows that Tai Boon Wee offloaded six million shares or a 4.94% stake. He remains a substantial shareholder of Goodway Integrated Industries with 23.49% equity interest.

Capital market trading platform provider N2N Connect Bhd saw 27.65 million shares or a 4.63% stake cross off market in two direct deals on Sept 24.

The shares were transacted in two blocks for a total of RM20.05 million.

Both direct business transactions were carried out at 72.5 sen per share, which was the stock’s closing price on that day.

At the time of writing, it is not immediately known who were the parties involved in the transactions.


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