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GSB actively traded following news Fututech director buys 16.7% stake
by Cals Mon 21 Dec 2015, 21:57
GSB actively traded following news Fututech director buys 16.7% stake
By Supriya Surendran / theedgemarkets.com | December 21, 2015 : 11:02 AM MYT
KUALA LUMPUR (Dec 21): Optical disc storage media manufacturer cum property developer GSB Group Bhd ([You must be registered and logged in to see this image.]Valuation: 0.30, Fundamental: 0.45) was one of the top five actively traded counters on Bursa Malaysia this morning, following news that construction outfit Fututech Bhd ( Valuation: 1.80, Fundamental: 2.60)'s director Datin Toh Siew Chuon has taken up a 16.7% stake in the company.
At 10.42am today, GSB shares were trading up 0.5 sen or 4.55% at 11.5 sen, with 22.17 million shares changing hands.
Toh, 49, along with Tee Eng Tiong, 37, and Tee Eng Han, 40, had purchased 88 million GSB shares, or a 16.7% stake, on Dec 16, 2015 through their private vehicle Javawana Sdn Bhd. The subscription was undertaken via a private placement of GSB shares, at a price of 10 sen per placement share.
With the purchase of the 16.7% stake, Javawana is the second-largest shareholder in GSB after Suria Bitara Sdn Bhd, which has an 18.29% stake in the company.
(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.)
By Supriya Surendran / theedgemarkets.com | December 21, 2015 : 11:02 AM MYT
KUALA LUMPUR (Dec 21): Optical disc storage media manufacturer cum property developer GSB Group Bhd ([You must be registered and logged in to see this image.]Valuation: 0.30, Fundamental: 0.45) was one of the top five actively traded counters on Bursa Malaysia this morning, following news that construction outfit Fututech Bhd ( Valuation: 1.80, Fundamental: 2.60)'s director Datin Toh Siew Chuon has taken up a 16.7% stake in the company.
At 10.42am today, GSB shares were trading up 0.5 sen or 4.55% at 11.5 sen, with 22.17 million shares changing hands.
Toh, 49, along with Tee Eng Tiong, 37, and Tee Eng Han, 40, had purchased 88 million GSB shares, or a 16.7% stake, on Dec 16, 2015 through their private vehicle Javawana Sdn Bhd. The subscription was undertaken via a private placement of GSB shares, at a price of 10 sen per placement share.
With the purchase of the 16.7% stake, Javawana is the second-largest shareholder in GSB after Suria Bitara Sdn Bhd, which has an 18.29% stake in the company.
(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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