RedTone jumps 6.02% after Johor Sultan becomes largest shareholder

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KUALA LUMPUR (March 17): Shares of RedTone International Bhd rose on Tuesday after the ruler of Johor, Sultan Ibrahim,  emerged as its largest shareholder with a 20.13% stake or 134 million shares.

At 9.50am, Redtone (Fundamental: 2.20; Valuation: 0.30) rose 6.02% or 5 sen to 88 sen with 5.39 million shares traded.

(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)