Hot Stock The Media Shoppe shares spike after Master Knowledge up stake

by **Cals** Thu 27 Aug 2015, 00:29

Hot Stock
The Media Shoppe shares spike after Master Knowledge up stake

KUALA LUMPUR (Aug 26): Shares of The Media Shoppe Bhd (TMS) ([You must be registered and logged in to see this image.] Financial Dashboard) rose as much as 14.3% in early trade today, after its single largest shareholder, Master Knowledge Sdn Bhd raised its shareholding in the company yesterday.
As at 2.15pm, TMS (fundamental:1.85; valuation: 0.9) was traded up 1.5 sen or 10.71% to 15.5 sen, with 89.34 million shares changing hands. Earlier, it touched an intraday high of 16 sen. Its market capitalisation stood at RM63.09 million.
The stock was one of the most actively traded stocks across Bursa Malaysia.
On Aug 14, Master Knowledge had purchased some 59.35 million shares or a 13.64% stake in TMS, emerging as the single largest shareholder in the information technology-based company.
Yesterday, the privately-held vehicle, controlled by TMS' two newly-appointed directors Datuk Low Liong Kian and Tan Tsu Pin, had further bumped up its shareholding by acquiring an additional 28 million shares, or 6.44%, in the company.
This brings Master Knowledge's stake to a controlling 120.35 million shares or 27.66% in TMS.
digitaledge DAILY had reported last week that Master Knowledge intends to inject property projects into TMS to strengthen its earnings. TMS, which has mostly been making losses over the past few years, has decided to enter the property sector to diversify its income stream.
(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.)