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NewsNotable Trade Halim Saad ups stake in Sumatec to 23.17%
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Notable Trade Halim Saad ups stake in Sumatec to 23.17%
by Cals Fri 13 Mar 2015, 16:32
Notable Trade
Halim Saad ups stake in Sumatec to 23.17%
By Supriya Surendran / theedgemarkets.com | March 13, 2015 : 4:10 PM MYT
KUALA LUMPUR (Mar 13): Tan Sri Halim Saad, the largest shareholder of [size=14]Sumatec Resources Bhd ([You must be registered and logged in to see this image.] Financial Dashboard), has increased his stake in the oil and gas company after buying an additional 40 million shares at 20.5 sen apiece or for RM8.2 million.
In a filing with Bursa Malaysia today, Sumatec (fundamental:2.4;valuation: 0.3) revealed that Halim had acquired the shares via an off market transaction on March 10, bringing the total shares he owns in Sumatec to 807.04 million shares or a 23.17% stake.
Based on a filing yesterday, it would appear that Halim had purchased the shares from Sumatec's non-independent non-executive director Chan Yok Peng who had disposed 40 million shares at 20.5 sen per share on March 10, in what was stated as a disposal via a private arrangement.
As at 3.47pm, Sumatec shares were trading up 1 sen or 4.88% at 21.5 sen, with 46.2 million shares changing hands. Its market capitalisation stood at RM713.95 million.
(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.)
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Halim Saad ups stake in Sumatec to 23.17%
By Supriya Surendran / theedgemarkets.com | March 13, 2015 : 4:10 PM MYT
KUALA LUMPUR (Mar 13): Tan Sri Halim Saad, the largest shareholder of [size=14]Sumatec Resources Bhd ([You must be registered and logged in to see this image.] Financial Dashboard), has increased his stake in the oil and gas company after buying an additional 40 million shares at 20.5 sen apiece or for RM8.2 million.
In a filing with Bursa Malaysia today, Sumatec (fundamental:2.4;valuation: 0.3) revealed that Halim had acquired the shares via an off market transaction on March 10, bringing the total shares he owns in Sumatec to 807.04 million shares or a 23.17% stake.
Based on a filing yesterday, it would appear that Halim had purchased the shares from Sumatec's non-independent non-executive director Chan Yok Peng who had disposed 40 million shares at 20.5 sen per share on March 10, in what was stated as a disposal via a private arrangement.
As at 3.47pm, Sumatec shares were trading up 1 sen or 4.88% at 21.5 sen, with 46.2 million shares changing hands. Its market capitalisation stood at RM713.95 million.
(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.)
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