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Hot Stock Excel Force hits all-time high of RM1.88
by Cals Mon 23 May 2016, 00:38
- Hot Stock
[size=28]Excel Force hits all-time high of RM1.88
By Supriya Surendran / theedgemarkets.com | May 20, 2016 : 3:17 PM MYTKUALA LUMPUR (May 19): Shares in computer application solutions provider Excel Force MSC Bhd hit an all-time high of RM1.88 today, following the emergence of Brahmal Vasudevan as a substantial shareholder in the information technology company.
A filing with Bursa Malaysia yesterday showed that Brahmal, the founder and chief executive officer of private equity firm Creador, had acquired a block of 11.5 million Excel Force shares on May 13, and a further 550,800 shares on May 16, bringing his total shareholding in the company to 14 million shares or a 6.7% stake.
Other notable substantial shareholders who have emerged in Excel Force this year are Asia Internet Holdings Sdn Bhd — the single largest shareholder of My E.G. Services Bhd (MyEG) which now controls 18% of Excel Force, and businessman Datuk Jayakumar Panneer Selvam, with a 7.14% stake.
Jayakumar is the chief executive officer of PDX.com Sdn Bhd, which is involved in several electronic government projects.
At 2.35 p.m., Excel Force shares were up 15 sen (8.7%) to RM1.87, with 2.05 million shares traded, for a market capitalisation of RM386.66 million.
Year to date, its share price has more than doubled from 84 sen on Dec 31, 2015.
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