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Notable Trade Vincent Tan continues to reduce stake in Magni-tech

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Notable Trade Vincent Tan continues to reduce stake in Magni-tech Empty Notable Trade Vincent Tan continues to reduce stake in Magni-tech

Post by Cals Mon 06 Jul 2015, 23:24

Notable Trade
Vincent Tan continues to reduce stake in Magni-tech




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By Levina Lim / theedgemarkets.com   | July 6, 2015 : 9:12 PM MYT   

KUALA LUMPUR (July 6): [size=14]Berjaya Corp Bhd (BCorp) ([You must be registered and logged in to see this image.] Financial Dashboard) founder Tan Sri Vincent Tan continues to reduce his stake in Magni-Tech Industries Bhd ([You must be registered and logged in to see this image.] Financial Dashboard), selling 400,000 shares in the open market last week.

According to a filing with Bursa Malaysia today, Tan sold 194,300 shares in Magni-Tech on July 1, 105,700 on July 2 and 100,000 shares on July 3, all through Juara Sejati Sdn Bhd.

This follows a disposal of 330,000 on June 30, 2015 in the manufacturer of apparel garments and plastic packaging products.

Following the disposals, Tan holds the remaining indirect 29.745 million shares or indirect stake of 27.4% in the company.

Magni-Tech (fundamental: 2.8; valuation: 2.4) shares closed 2 sen lower at RM3.78 today, giving it a market capitalisation of RM412.25 million.

(Note: 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.)

 
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