FMR emerges as Supermax' substantial shareholder

FMR emerges as Supermax' substantial shareholder
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KUALA LUMPUR (Oct 22): FMR LLC, one of the US' largest mutual fund companies, has emerged as a substantial shareholder in glovemaker Supermax Corp Bhd, with a 5.13% stake.

A filing with Bursa Malaysia today revealed FMR had accumulated a total of 34.41 million Supermax shares, representing a 5.13% stake, as at Oct 22. The shares were acquired between Oct 9 and Oct 15. However, the transacted price was not revealed.

This makes FMR the third largest shareholder in Supermax, after its executive chairman and group managing director Datuk Seri Stanley Thai Kim Sim, who holds a 20.71% stake; and his wife and Supermax executive director, Datin Seri Cheryl Tan Bee Geok, who holds a 15.33% stake.

Supermax' shares closed down 4 sen or 1.72% at RM2.28 today, with a market capitalisation of RM1.53 billion. Year to date, the stock has appreciated by 39%.

(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.)