KUALA LUMPUR (March 16): The substantial shareholder of integrated steel manufacturer, Kinsteel Bhd (Kinsteel), Kin Kee Holdings Sdn Bhd (Kin Kee), has disposed of 4.35 million shares or a 0.4% stake in the company in the span of three days last week.

Based on filings with Bursa Malaysia, the latest disposals by Kin Kee happened from March 11 to March 13, 2015, when Kin Steel's share price sank to a 52-week low of 13 sen.

The latest disposals bring the total number of Kinsteel (fundamental: 0; valuation: 1.2) shares disposed by Kin Kee, to 7.35 million this month.

Post-disposal, Kin Kee, which is a private vehicle linked to Kinsteel’s managing director Tan Sri Pheng Yin Huah and executive director Datuk Hong Thian Hock, still holds a 22.21% equity interest in Kinsteel.

Correspondingly, Pheng has also reduced his equity stake in Kinsteel to 29.96%, while Hong now holds a 26.2% equity interest in the company.

Kinsteel's share price has been on a progressive decline in the last two years. Today, it closed at 13.5 sen and has a market capitalisation of RM140.62 million.

More recently, Kinsteel and its 37%-owned Perwaja Holdings Bhd came under the spotlight, after a delay in the submission of their annual audited reports.

(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.)