KUALA LUMPUR (June 22): Chin Well Holdings Bhd co-founder Tsai Yung Yu ceased to be a substantial shareholder in the company effective today.  

In a filing with Bursa Malaysia today, Chin Well said Tsai ceased to be a substantial shareholder.

He disposed of 158.31 million shares or equivalent to 52.9% stake in the company.

According to the company's 2014 annual report, Tsai, a Taiwanese, held the shares through Benua Handal Sdn Bhd.

The filing did not state the price of transaction and method of disposal.

Chin Well (fundamental: 2.1; valuation: 2) is a manufacturer and supplier of high-quality carbon steel fasteners such as screws, nuts and bolts used in highway guard rails, power transmission towers and furniture.

His latest purchase was on Sept 19 last year, when he acquired 21.53 million shares or 7.9% stake in the company in an off-market transaction.

Shares in Chin Well was not traded today. It last closed at RM1.50 a share, for a market capitalisation of RM449.3 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.)