KUALA LUMPUR (July 2): Koperasi Permodalan Felda Malaysia Bhd has ceased to be a substantial shareholder in poultry farmer Teo Seng Capital Bhd.
In a filing with Bursa Malaysia today, Teo Seng said Felda has disposed of 1 million shares on April 1, and was then left with a 5% stake in the company.
Subsequently, on June 29, Felda had disposed of another 482,300 Teo Seng shares, and thus ceased to be a substantial shareholder in the company.
Felda first emerged as a substantial shareholder in Teo Seng in September 2009, with a 20% stake in the company.
Teo Seng (fundamental: 2.3; valuation: 2.1) shares closed up 2 sen, or 1.32% to RM1.53 today with a market capitalisation of RM455.58 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.)