Highlight Rahmanudin emerges Tanjung Offshore's largest shareholder

by **Cals** Thu 12 Feb 2015, 19:10

Highlight
Rahmanudin emerges Tanjung Offshore's largest shareholder

By Gho Chee Yuan / theedgemarkets.com | February 12, 2015 : 5:57 PM MYT

KUALA LUMPUR (Feb 12): [size=14]Tanjung Offshore Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) saw changes in the company shareholding with Rahmanudin Md Shamsudin emerged as the company's new substantial shareholder.

In a filing with Bursa Malaysia today, Tanjung Offshore (fundamental: 1.95; valuation: 1.8) said Rahmanudin has acquired some 37.18 million shares, representing a 9.99% stake in the company yesterday (Feb 11).

However, the filing did not state the transaction price.

Following the purchases, Rahmanudin's shareholding has exceeded Lembaga Tabung Haji's 8.25% stake, to emerge as the largest shareholders in Tanjung Offshore.

Shares of Tanjung Offshore closed half a sen or 0.93% higher at 54 sen, giving it a market capitalisation of RM199.04 million.

The oil and gas industry services producer has recently attracted attention, having suspended and subsequently lodged a police reports against two of its directors Tan Sri Tan Kean Soon and Muhammad Sabri Ab Ghani, for alleged breaches.

[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]