Friday 29 Mar 2024
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KUALA LUMPUR (Feb 24): Hap Seng Consolidated Bhd saw some 189.5 million shares, representing 8.84% interest in the diversified group, traded off-market today, for RM701.15 million.

According to Bloomberg data, the shares were traded in a single block at RM3.70 apiece.

However, the parties involved in the transaction were not immediately known.

Hap Seng Consolidated (fundamental 1.5; valuation: 2.4) is a diversified company with interests in plantations, property investment and development, credit financing, trading of fertilisers and automotive, as well as building materials and stone quarries.

The company's substantial shareholders are Gek Poh Holdings Sdn Bhd and Lei Shing Hong Investment Ltd.

Gek Poh has a direct interest of 54.36% and an indirect interest 11.71%, while Lei Shing Hong has a direct stake of 8.2% in the company.

According to data from Bursa Malaysia, Tan Sri Lau Cho Kun has 74.24% indirect interest in Hap Seng Consolidated.

Hap Seng Consolidated closed at RM3.67 today, 5 sen or 1.34% lower, with 5.43 million shares changing hands, giving it a market capitalisation of RM8.19 billion.

(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.)

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