KWAP emerges as Hovid substantial shareholder

KWAP

-A +A

KUALA LUMPUR (July 22): Kumpulan Wang Persaraan (Diperbadankan) (KWAP) has emerged as a substantial shareholder in Hovid Bhd, with a 5.1% stake.

A filing with Bursa Malaysia today showed that KWAP had on July 13, 2015 acquired 1.5 million Hovid shares, bringing its total shareholdings in the company to 39.9 million shares, or a 5.1% stake.

Hovid, a generic pharmaceutical products manufacturer known for its Ho Yan Hor herbal tea, counts its chairman and managing director Ho Sue [email protected] David Ho Sue San as its largest shareholder with a 35.7% stake.

Hovid (fundamental: 2.1; valuation: 0.7) shares closed down 0.5 sen or 1% to 49.5 sen today, giving it a market capitalisation of RM387.23 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.)