Notable Trade Globetronics directors lock in gains, counter hits new high

by **Cals** Mon 23 Mar 2015, 23:12

Notable Trade
Globetronics directors lock in gains, counter hits new high

By Charlotte Chong / theedgemarkets.com | March 23, 2015 : 6:54 PM MYT

KUALA LUMPUR (March 23): [size=14]Globetronics ([You must be registered and logged in to see this image.] Financial Dashboard) CEO Heng Huck Lee, together with its independent non-executive director Yeow Teck Chai and two other principal officers Lim Guat Li and Sim Gaik Lan, have sold some of their shares to lock in gains as the company’s counter traded higher.

Globetronics (fundamental: 3.0; valuation: 2.1), a semiconductor based products contract manufacturer, has been hitting fresh highs since March 18. It was the top gainer on the local bourse today, adding 25 sen or 4.72% to close at RM5.55, with some 2.14 million shares having changed hands.

In several filings with Bursa Malaysia today, Globetronics said Heng had disposed 40,000 shares or a 0.01% stake worth RM212,000 on March 20, through open market disposals. On the same day, Yeow also pared down 20,000 shares for RM105,000.

Following the disposal, Heng owns 0.3% or 841,000 interest, while Yeow has a 0.04% interest in Globetronics.

Additionally, Lim sold 5,000 shares worth RM26,750 on March 20, while Sim disposed 5,000 shares for RM27,500.

Notably, founder and executive chairman Ng Kweng Chong holds a total direct and indirect stake of 21.89% in the company, through his private vehicles Ng Kweng Chong Holdings Sdn Bhd, Wiserite Sdn Bhd and Glencare Sdn Bhd.

(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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