Reliance Pacific sees 5.22% stake traded off market

Reliance Pacific sees 5.22% stake traded off market
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KUALA LUMPUR (June 2): Reliance Pacific Bhd saw 44.83 million shares or a 5.22% stake traded off market today, for a total value of RM10.08 million.

According to Bloomberg data, the shares were moved in five blocks via direct business transactions at 22.5 sen per share.

In comparison, the counter's closing price today is 38 sen (two sen or 4.11% higher from yesterday) on the market.

Volume was 38,100 shares, giving it a market capitalisation of RM326.24 million.

The buyers and sellers of the off-market trade were not immediately known.

Ibu Kota Developments Sdn Bhd and Reliance Holdings Sdn Bhd are Reliance Pacific's two major shareholders, holding 30.96% and 20.27% interest respectively, according to Bloomberg data.

Ibu Kota Developments, which is owned by former Finance Minister Tun Daim Zainuddin's wife Toh Puan Mahani Idris and son Datuk Md Wira Dani Abdul Daim, emerged as Reliance Pacific's substantial shareholders in April.

Reliance Pacific's principal activity is tour operations. It also manages and operates Avillion Hotel in Port Dickson.

Reliance Pacific reported a net loss of RM24.03 million for the fourth quarter ended March 31, 2016 compared with a net profit of RM601,000 a year earlier.