This article first appeared in Capital, The Edge Malaysia Weekly on January 27, 2020 - February 2, 2020

VELESTO Energy Bhd saw 100 million shares, or a 1.22% stake, change hands for RM38 million in a single direct deal on Jan 16. The transacted price of 38 sen per share was the level at which the stock closed on that day, after trading between 37.5 and 38 sen on the open market.

Stock exchange filings show that Permodalan Nasional Bhd (PNB) bought the shares from Amanahraya Trustees Bhd–Amanah Saham Bumiputera (ASB). ASB is the flagship fund of Amanah Saham Nasional Bhd, PNB’s unit trust company. PNB’s direct holdings in Velesto Energy stood at 1.01 billion shares, or 12.35%, while ASB’s stood at just over 34%, or 2.79 billion shares, as at Jan 16.

Sime Darby Plantation Bhd saw 40 million shares, or a 0.58% stake, change hands for RM212 million in a single direct deal on Jan 16. The transacted price of RM5.30 per share was between the RM5.25 and RM5.35 they fetched on the open market before closing at RM5.30 that day.

Amanahraya Trustees Bhd–ASB sold the shares, paring its direct interest to 44.725%, or 3.08 billion shares, as at Jan 16, filings show. The buyer was not known at the time of writing. The Employees Provident Fund’s external fund manager sold 2.35 million shares on Jan 16. Its direct stake stood at 11.65% after the disposal and it was deemed interested in another 1.8%.

On Jan 16, Alam Maritim Resources Bhd saw 22.22 million shares, or a 2.1% stake, change hands for RM2.1 million in two direct deals. The shares were transacted at 9.5 sen each, a discount to the 15 to 16.5 sen they fetched on the open market that day, before ending at 15.5 sen. Incidentally, filings show the listing of 22.22 million shares from the conversion of redeemable convertible notes that day.

YTL Power International Bhd saw 30 million shares, or a 0.39% stake, change hands for RM24 million in a single direct deal on Jan 20. The transaction price of 80 sen per share was nearer the top of the range of 78 to 80.5 sen the stock fetched on the open market that day, before closing at 80 sen. The buyers and sellers were unknown at the time of writing.

On Jan 15, ACE Market-listed Kronologi Asia Bhd saw 16.5 million shares, or a 3.37% stake, change hands in two direct deals at 86.5 sen apiece, or RM14.27 million in total.

Law Chee Yii, who is listed as a director at a subsidiary in Kronologi’s 2018 annual report, was no longer a substantial shareholder of the company, which provides enterprise data management and storage solutions, after disposing of 16.5 million shares on Jan 15, filings show.

LEAP market-listed Polymer Link Holdings Bhd, a manufacturer of compounded and non-compounded plastic powder, saw 20 million shares, or a 4.32% stake, change hands for RM2.4 million in a single direct deal on Jan 17. The transacted price of 12 sen per share was the price at which shares in the company were sold at for its debut on April 27, 2018.

Non-executive director Paul James Nugent bought the shares from executive director Edward Koh Tat Wei, whose direct holdings fell to 15.03%, or 69.56 million shares. The acquisition raised the Ireland national’s direct holdings to 15.895%, or 73.57 million shares, filings show.

Sanichi Technology Bhd saw a 2% stake, or 22.22 million shares, change hands in two direct deals for RM1 million on Jan 17. The transacted price of 4.5 sen per share corresponded with the stock’s closing price that day.
 

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