KWAP now a substantial shareholder in MyEG

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KUALA LUMPUR (July 22): Kumpulan Wang Persaraan (Diperbadankan) (KWAP) has become a substantial shareholder in MyEG Services Bhd, with a 5% stake.

In a filing with Bursa Malaysia today, it was revealed that KWAP had purchased 2.05 million shares in the Malaysian electronic-government concessionaire on July 14, 2015, bringing its total shareholdings in the company to 60.02 million shares or 5%.

Asia Internet Holdings Sdn Bhd is the largest shareholder of MyEG, with a 30.76% stake.

MyEG (fundamental: 2.7; valuation: 1.1) shares closed unchanged at RM2.66 today with a market capitalisation of RM3.19 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.)