DNeX tops off-market trades
Johnny Loh 
The higher net profit was mainly due to the growth in DNeX’s business-to-business and business-to-government business segments

DAGANG NeXchange Bhd (DNeX) tops last week’s off-market trades by volume after 50.23 million of its shares were transacted at 40.5 sen apiece on Nov 29.

The block of shares is equivalent to RM20.35 mil, representing 2.86% of the total shares outstanding.

DNeX is engaged in the information communications and technology and energy business. For its Q3 ended Sept 30, the company’s net profit rose 132.34% to RM15.71 mil from RM6.76 from the corresponding quarter a year ago.

The higher net profit was mainly due to the growth in its business-to-business (B2B) and business-to-government (B2G) business segments as well as new recurring income from operation and maintenance of the vehicle entry permit and road charges system.

The counter closed at 40.5 sen on Nov 30.

A filing with Bursa Malaysia on Nov 28 saw Li Kwai Chun, who is the largest shareholder of Practice Note 17 company Maxwell International Holding Bhd, disposing 20 million shares or a 5.01% stake in the company.

Post-disposal, Li trimmed her stake to 43.55% from 48.57%. Formerly the company’s president, she has been re-designated as director effective July 31.

Maxwell International is involved in the design, manufacture and sale of sports shoes. The counter closed at two sen on Nov 30.

According to filings with Bursa on Nov 27 and 29, Orion IXL Bhd’s largest shareholder Yahya Razali and Adnan Zainol divested 13.1 million shares (2.19% stake) and 11 million shares (1.84% stake) respectively in the company.

Post-disposal, Yahya and Adnan, who are also the company’s directors, reduced their stakes in the company to 16.05% and 3.06% respectively.

For its Q3 ended Sept 30, the developer and distributor of maintenance management systems software  returned to the black with a net profit of RM1.21 mil from a net loss of RM455,000 in the previous corresponding quarter.

The better performance was mainly attributed to its newly-acquired wholly-owned subsidiary Asap Bhd which contributed about 79% of the company’s total revenue. The counter closed at 12.5 sen on Nov 30, having dipped 67.95% from its year-to-date high of 39 sen on May 17.

In another development, a filing with Bursa on Nov 30 disclosed that Asdion Bhd’s largest shareholder Tey Por Chen disposed 8.88 million shares or a 7.63% stake in the company. Post-disposal, his stake was reduced to 13.71%, thus becoming the second largest shareholder.

Asdion is involved in software development and ICT related activities. The counter closed at 15 sen on Nov 30.

This article first appeared in Focus Malaysia Issue 261.