KUALA LUMPUR (June 14): Sarawak Consolidated Industries Bhd saw 11 million shares, representing a 14.55% stake in the company, crossed off market today.

According to Bloomberg data, the shares were moved in one block for a total value of RM6.98 million or 63.5 sen per share.

The transaction price is 6.5 sen or 9.3% lower, to its open market price of 70 sen a share.

It is not known as to who the parties involved in the trades are, as at press time.

Sarawak Consolidated Industries through its subsidiaries, invests in and develops properties, as well as manufactures and sells concrete products.

The company's substantial shareholders are the group's non-independent non-executive director Lim Nyuk Foh, with a stakeholdings of 16.65 million or 22.63% stake as at March 29, 2016. Lim is also the founder of Priceworth International Bhd. He also helmed group managing director of Priceworth and Bertam Alliance Bhd.

Next on Sarawak Consolidated Industries' substantial shareholder list is Pacific Unit Sdn Bhd with a stakeholding of 9.28 million or 12.61%; followed by Sarawak Economic Development Corporation with 6.48 million or a 8.81%-stake.

The stock rebounded four sen or 6% to close at 70 sen today, from its one year low of 66 sen on May 31.

The open market volume is 9,000 shares significantly lower, as compared with its off market trading volume. With the current price, it has a market capitalisation of RM51.51 million.