SKP Resources' MD Gan pares 2% off his stake

by **Cals** Thu 09 Apr 2015, 23:22

SKP Resources' MD Gan pares 2% off his stake

By Gho Chee Yuan / theedgemarkets.com | April 9, 2015 : 8:13 PM MYT

KUALA LUMPUR (April 9): [size=14]SKP Resources Bhd ([You must be registered and logged in to see this image.] Financial Dashboard)'s managing director and executive chairman Datuk Gan Kim Huat has pared down his stake in the company, after selling off 22 million shares, the equivalent of a 2.05% stake in the company.

In a filing with Bursa Malaysia today, SKP Resources (fundamental: 2.1; valuation: 1.1) said Gan, who founded the company, had disposed of some 20.7 million shares or 1.93% of the company's total paid-up capital via a direct deal for RM17.27 million or 83.6 sen apiece on Tuesday (April 7).

On the same day, Gan sold another block of 1.3 million shares or 0.12% stake through the open market for RM1.3 million or 87.4 sen each.

Following the disposal, Gan still controls some 9.79% stake or 105.03 million shares in the company.

He also has a deemed interest to some 445.56 million shares that represent a 41.55% stake in the company, via his private vehicles Renown Million Sdn Bhd, Beyond Imagination Sdn Bhd, Graceful Assessment Sdn Bhd andZenith Highlight Sdn Bhd.

SKP Resources inched up two sen or 2.33% to close at 88 sen today, with a market capitalisation of RM792 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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