Tuesday 19 Mar 2024
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KUALA LUMPUR: Brahmal Vasudevan, who is the chief executive officer and founder of private equity firm Creador Capital Group, has ceased to be a substantial shareholder of SMRT Holdings Bhd after selling 2.1 million shares on Jan 8 and 9, a filing with Bursa Malaysia revealed yesterday.

Brahmal sold 1.8 million shares in SMRT (fundamental: 1.5; valuation: 1.8) on Jan 8 and the rest on the following day. As at Jan 8, he held 11.6 million shares or a 5.08% stake in SMRT.

Although SMRT’s counter has vacillated in a wide range of 33 sen and 75 sen since last May, Brahmal could have made handsome gains from the sale.

When he emerged as a substantial shareholder of the firm on May 2, the stock closed at 33.5 sen. On Jan 8, SMRT shares were trading at 65 sen apiece.

The counter closed 1.5 sen higher at 64.5 sen yesterday, with a market capitalisation of RM143.73 million.

 

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.

This article first appeared in The Edge Financial Daily, on January 16, 2015.

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