Thursday 28 Mar 2024
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KUALA LUMPUR (May 6): Rapid Synergy Bhd substantial shareholder and director Datuk Dr Yu Kuan Chon has trimmed his stake in the company via open and off-market share trades.

In a filing to Bursa Malaysia today, electronic component manufacturer Rapid Synergy (fundamental: 0.45; valuation: 0.6) said Dr Yu had sold 241,000 shares or 0.3% stake yesterday (May 5).

Rapid Synergy, which is also a real estate investor, said Dr Yu disposed of the shares via two transactions. The first saw 60,000 shares sold at RM5.75 each on the open market.

Another 181,000 units were sold off market at RM5.50 each.

Following the disposal, Dr Yu still owns an 18.355% direct stake in the company. He also has an indirect interest of 8.61%.

Today, Rapid Synergy shares fell one sen or 0.2% at 2:34pm to RM5.81, for a market capitalisation of RM507.79 million.

The stock saw thin trades of 60,000 shares.

(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.)

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