Off-Market Trades: GOH Ban Huat Bhd, Trive Property Group Bhd, 7-Eleven Malaysia Holdings Bhd, QES Group Bhd, Nexgram Holdings Bhd

TheEdge Thu, Mar 29, 2018 02:00pm - 6 years View Original


GOH Ban Huat Bhd saw 10.9 million shares or a 5.84% stake change hands in direct trades on March 12 and 13. Filings show that 9.75 million shares were disposed of by Paragon Adventure Sdn Bhd, which became GBH’s controlling shareholder last September after acquiring 51% equity interest from Tan Sri Robert Tan Hua Choon. In January, Paragon Adventure sold a 4.82% shareholding in GBH, and the recent disposal reduces its stake to 56.25%.

Paragon Adventure’s shareholders are Datuk Seri Edwin Tan Pei Seng (65%) and Datuk Seri Godwin Tan Pei Poh (35%). They are the sons of Datuk Tan Eng Boon of Joland Group.

Meanwhile, Trive Property Group Bhd saw 100.45 million shares, or a 4.92% stake, change hands in direct and block trades during the week. Trive is involved in property development and construction, as well as research and development of intelligent battery management systems for rechargeable energy storage solutions.

A stock exchange filing in June last year shows that Trive embarked on a fund-raising exercise, a conditional subscription agreement with Macquarie Bank Ltd for the issuance and allotment of up to 500 million new ordinary shares in Trive. On March 6 and 9, Trive issued and allotted a total of 110 million shares to Macquarie Bank at issue prices of 3.5 sen and 3.4 sen respectively.

Filings show that 100 million shares changed hands in a direct trade at 3.7 sen apiece, a premium of 5.7% to its closing price of 3.5 sen on March 9.

Early this year, Trive non-executive chairman Wong Kok Seong and non-executive director Thu Soon Shien announced their resignation, citing personal work commitments.

Convenience store chain 7-Eleven Malaysia Holdings Bhd saw a total of 40.62 million shares change hands in direct trades during the week in review.

True Ascend Sdn Bhd emerged as a substantial holder of 7-Eleven after acquiring a block of 40.62 million shares from Berjaya Retail Bhd and Sublime Cartel Sdn Bhd, filings show. Tan Sri Vincent Tan is the common shareholder in all these companies.

For the fourth quarter ended Dec 31, 2017, 7-Eleven’s net profit surged 67% to RM15.86 million from a year ago on the back of higher revenue and improvement in gross margins. This was despite higher selling and distribution expenses incurred as well as administrative and other operating expenses due to new store openings that resulted in higher rental costs, store depreciation expense and utility cost.

QES Group Bhd, which debuted on the ACE Market on March 8, saw 23.75 million shares change hands in block trades at between 20.5 sen and 23 sen apiece during the week. The parties involved in the transaction were not known at the time of writing.

QES is involved in the distribution of inspection, test and measurement equipment apart from materials and engineering solutions. At the close of its first day on Bursa, the counter rose three sen to 22 sen from its initial public offering price of 19 sen.

Meanwhile, Nexgram Holdings Bhd saw a total of 23.72 million shares, or a 1.26% stake, change hands in block trades during the week. The shares were traded at between 4 sen and 5 sen. The parties involved were not immediately known.

The company recently announced that it had inked a strategic cooperation framework agreement with Chinese-listed group Jiangsu Tongguang Electronic Wire & Cable Co Ltd to undertake operations in the field of communication cables.

 

The content is a snapshot from Publisher. Refer to the original content for accurate info. Contact us for any changes.






Related Stocks

BJCORP 0.300
NEXGRAM 0.030
PARAGON 3.690
QES 0.605
SEM 2.000
TRIVE 0.060

Comments

Login to comment.