KUALA LUMPUR (July 19): Construction outfit Prinsiptek saw 80 million shares, representing a 21.25% stake, crossed off-market today.

According to Bloomberg data, the shares were exchanged in nine blocks of between four million and 14.6 million shares earlier today. The shares were traded at 14.5 sen apiece, translating to a total value of RM11.6 million.

The parties involved in the exchanges were not disclosed, but Bloomberg data showed that Daya Setempat Sdn Bhd was the biggest shareholder with a 27.21% stake as at Sept 20, 2018, followed by Foo Chu Jong (9.82%) and Chin Kok Foong (7.41%).

In January, the group announced a collaboration with AA Strategic Marketing Sdn Bhd and TTSJ Trading Sdn Bhd to jointly develop an oil palm plantation along with a palm oil mill and other facilities in Lawas, Sarawak, valued at RM2.13 billion.

Besides the palm oil mill, the joint venture will also build a port, jetty, bulking tank for palm oil, refinery and green energy plant at Sipitang Port, Sabah.

Prinsiptek's share price closed unchanged at 14.5 sen, giving it a market capitalisation of RM54.6 million.