KUALA LUMPUR (April 10): Kawan Food Bhd founder and chairman Datuk Gan Thiam Chai has sold some 3.5 million shares in the company for RM6.37 million.  

In a filing with Bursa Malaysia today, Kawan Food (fundamental: 3; valuation: 1.1) said Gan disposed of 3.537 million shares, equivalent to a 1.93% stake at RM1.80 apiece on April 8, via a direct business transaction.

Following the disposal, Gan still has 56.4 million shares or a 30.84% stake in the manufacturer of frozen Asian food delicacies.

The stock closed one sen or 0.52% lower at RM1.92 today, translating into a market capitalisation of RM352.94 million.

(Notes: 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.)