KUALA LUMPUR (Mar 27): Lembaga Tabung Haji has ceased to be a substantial shareholder in pesticide manufacturer Imaspro Corp Bhd after disposing of 500,000 shares which represent a 0.62% stake in the company.

In a filing to Bursa Malaysia today, Imaspro (fundamental: 1.45; valuation: 0.6) said the Islamic pilgrim fund disposed of the shares on March 25. Prior to this, it had earlier disposed of some 148,000 shares in the company.

Following the disposals, Lembaga Tabung Haji should still control 4.41% or 4.02 million shares in Imaspro (fundamental: 1.45; valuation: 0.6).

Meanwhile, it is worth noting that Datuk Dr Yu Kuan Chon, chairman and executive director of YNH Property Bhd, has raised his stake in Imaspro to 9.04% after emerging as a substantial shareholder in the company two days ago.

According to filings with Bursa Malaysia today, Dr Yu purchased 2.47 million shares or a 3.08% stake in the company via two transaction on March 18 and March 19.

Dr Yu first emerged as a substantial shareholder in Imaspro with a 5.96% stake after acquiring an additional 361,000 shares (0.45%) in the company on March 17.

Beside LTH, Imaspro's non-executive chairman Mohd Shafek Isa has also been paring his stake since the beginning of this month. Shafek now holds a combined direct and indirect stake of 0.9% in Imaspro through Sunbina Dunia Sdn Bhd, down from 21.68% on Feb 25 this year.

Imaspro closed up one sen or 0.54% at RM1.86 today, giving it a market capitalisation of RM146.4 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.)