Notable Trade Ecofirst’s Tiong raises stake in Meda to 14.72%

by **Cals** Thu 12 Feb 2015, 01:26

Notable Trade
Ecofirst’s Tiong raises stake in Meda to 14.72%

By Gho Chee Yuan / theedgemarkets.com | February 11, 2015 : 7:00 PM MYT

KUALA LUMPUR (Feb 11): Datuk Tiong Kwing Hee, [size=14]Ecofirst Consolidated Bhd ([You must be registered and logged in to see this image.] Financial Dashboard)'s group chief executive officer and executive director, has further upped his stake in Meda Inc Bhd to 14.72%, filings with Bursa Malaysia showed this evening.

In the latest filing with the local exchange, Meda (fundamental: 0.65; valuation: 0.6) said Tiong had acquired an additional 6 million shares or a 1.24% stake in the company on Feb 10. The price of transaction was not disclosed in the filing.

Since December last year, Tiong has purchased some 27.42 million shares or a 5.67% stake in Meda, which raised his interests from 8.71% then to 14.72% currently, thereby becoming its single largest shareholder. He is presently not on the board of Meda.

Shares of Meda closed down half a sen or 0.85% at 58.5 sen, giving it a market capitalisation of RM285.12 million. Ecofirst’s (fundamental: 0.7; valuation: 0.3) share price meanwhile, closed 0.5 sen lower at 31 sen, with a market capitalisation of RM230 million.

Apart from Tiong, both Meda and Ecofirst also shares Teoh Seng Aun and Teoh Seng Kian as substantial shareholders. Together, the two Teoh brothers own 26.4% of Meda and 21.74% of Ecofirst. Tiong owns 15.76% stake in Ecofirst.

[size=12](Notes: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)[/size]
[/size]