KUALA LUMPUR (Jan 27): Kejuruteraan Samudra Timur Bhd (KSTB) (fundamental: 2.4; valuation: 1.2), which specializes in tubular handling equipment for the upstream oil and gas industry, saw 7.22 million shares representing 5.04% of shareholdings, crossed off market today.

According to Bloomberg data, the block of 7.22 million shares were transacted at 48 sen per share, and RM3.47 million in total. The transaction price is at a mild discount of 3% over today’s closing price of 49.5 sen.

It is not known who are the parties involved in the off market transaction, as at press time.

The largest shareholder in KSTB is its co-founder Datuk Chee Peck Kiat who controls some 17.25% equity stake of the company, followed by Innoteguh Sdn Bhd which has a 13.78% stake, and Trance Equity Sdn Bhd which has a 8.89% stake.

At today’s closing of 49.5 sen, KSTB’s market capitalisation is at RM70.9 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.)