Some 319.4 million shares valued at RM512.2 million were traded off market in blocks of at least 500,000 shares each for the week of Nov 4 to 10.

Among the major transactions seen during the period are that of plantation giant IOI Corp Bhd, with 8.5 million shares valued at about RM45.5 million traded off market in cross and block deals on Nov 5 and Nov 9.

Sime Darby Bhd, the world’s biggest oil palm plantation company, saw 4.5 million shares worth RM36.4 million change hands off market at RM9.20 to RM9.04 each on Nov 5, 6 and 10.

Sime Darby was in the news recently amid speculation that China’s state investment arm may acquire a 10% stake in the company. While this did not materialise during China’s President Hu Jintao’s official visit last week, analysts don’t discount the possibility of an equity investment from China in Sime Darby due to its need for natural resources.

Some 27.2 million Gunung Capital Bhd shares traded off market in a cross deal at 38.5 sen apiece on Nov 9. According to a filing, Gunung’s chairman Low Bok Tek disposed of 13.6 million shares in BT Capital Sdn Bhd, a Gunung subsidiary, on Nov 9. The shares were transferred to Erayear Equity Sdn Bhd, which emerged as the largest shareholder, with a 27.01% stake.

Low is also deemed to have interests in Erayear. The company is involved in the fabrication of coaches, property investment as well as operations in the travel and tourism industry.

Scan Associates Bhd saw 10 million shares change hands off market at one sen each. The information and communications technology services provider had on Oct 8 announced a proposal to transfer its listing status in the ACE Market of Bursa Malaysia to “Newco Bhd” for listing on the Main Market.

The exercise will result in Scan’s shareholders owning shares in Newco, which will then take over Scan’s subsidiaries, Scan Crypto-Tech Sdn Bhd and PT Scan Nusantara.

Property developer and car park operator Asia Pacific Land Bhd saw 54.2 million shares transacted off market in block and direct deals at 29 sen each on Nov 4 and 5.

Some 43.9 million Mudajaya Group Bhd shares valued at RM149.3 million changed hands off market in block and direct trades on Nov 5. A Nov 9 filing showed that pilgrimage fund Lembaga Tabung Haji (LTH) had disposed of about 20.35 million shares in the company.

LTH also sold 106,000 shares from Oct 23 to Nov 4, taking its direct shareholding in Mudajaya to 7.14%. Mudajaya had entered into a series of collaborations recently, including a memorandum of agreement between its unit Mudajaya Corp Bhd and Koperasi Pembangunan Tanah Daerah Kuantan Bhd worth some RM141 million.

Formis Resources Bhd saw 11 million shares worth RM11.5 million trade off market in block and direct deals  at RM1.05 apiece on Nov 10. An Oct 30 filing showed that Formis’ managing director Chan Ngow had acquired 1.1 million shares in the information technology company.

Some 22 million MMC Corp Bhd shares valued at RM54.36 million were traded in block and cross deals at RM2.46 to RM2.48 each on Nov 6, 9 and 10. A Nov 2 filing showed that the Employees Provident Fund had acquired a total of 2.43 million shares in the company on the open market from Sept 4 to Oct 22.

This article appeared in Capital page of The Edge Malaysia, Issue  Issue 781, Nov 16-22, 2009.