Asia Media Group CEO Wong ups stake in Bright Packaging

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Bright-Packaging-Industry-Bhd

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KUALA LUMPUR (June 26): Bright Packaging Industry Bhd’s largest shareholder Datuk Wong Shee Kai has upped his stake in the company with the purchase of an additional 2.08 million shares or 1.27% stake in the open market, bringing his indirect interest in the company to 29.94%, with 49.18 million shares.

Wong is also the chief executive officer and founder of Asia Media Group Bhd.

According to Bright Packaging (fundamental: 1.2; valuation:0.9)’s filing to Bursa Malaysia today, Wong upped his stake after his private vehicle Wong SK Holdings Sdn Bhd acquired the 2.08 million shares on Monday (June 22).

However, the trading price of the block of shares was not disclosed.

Consequently, Wong and his mother Teh Sew Wan’s indirect holdings in Bright Packaging now stand at 29.94% respectively, by virtue of their stake in Wong SK Holdings.

The aluminum foil packaging material manufacturer’s shares closed half sen or 1.1% higher at 46 sen today, for a market capitalisation of RM164.27 million.

(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.)