Notable Trade MMC ups NCB stake to associate level

by **Cals** Sat 20 Jun 2015, 23:21

Notable Trade
MMC ups NCB stake to associate level

KUALA LUMPUR (June 19): MMC Corp Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) upped its NCB Holdings Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) stake to 21.05% after buying Lembaga Pelabuhan Klang's 25 million shares in the port operator.
NCB (fundamental: 2.05; valuation: 0.8) said in a filing to Bursa Malaysia today Lembaga Pelabuhan Klang had ceased to a major shareholder in the company following the off-market trade.
NCB said MMC (fundamental: 0.4; valuation: 1.4) had acquired the shares from Lembaga Pelabuhan Klang last Tuesday (June 16).
This brought MMC's stake in NCB to 21.05% comprisng about 99 million shares. MMC had in November 2014 emerged as a major shareholder in NCB after buying 73.99 million shares or 15.73% in NCB from MISC Bhd ([You must be registered and logged in to see this image.]Financial Dashboard) (fundamental: 1.2; valuation: 0.8) via an off-market trade.
Today, NCB shares fell one sen or 0.3% at 5pm to close at RM3.44 for a market capitalisation of RM1.62 billion.
The stock had risen 51% this year, outperforming the FBM KLCI's 2% decline.
(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.)