Off-market trade in Boon Koon shares at steep discount

KUALA LUMPUR: A total of 25.04 million shares of Boon Koon Group Bhd was traded in an off-market deal at an average price of 33.5 sen on Monday.

Stock market data showed the transactions of the company – which manufactures rebuilt and reconditioned vehicles --were at a steep discount to Friday's closing price of 50 sen.

Based on its paid-up, the 25.04 million shares accounted for a 8.73% stake.  The shares match the number of shares held by Datin Lee Teoh Kee.

At the current market price of 49.5 sen, it is trading at a hefty price-to-earnings of 150 times.

Its 52-week market high was 58 sen on July 27 this year and its 52-week low was 11 sen on Dec 12, 2016.

In the second quarter ended Sept 30, 2017, it posted earnings of RM2.3mil and for the first half at RM5.50mil.