The Media Shoppe up after board changes

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KUALA LUMPUR (Aug 18): The Media Shoppe Bhd (TMS) rose as much as 0.5 sen or 4% after major shareholders Datuk Low Liong Kian and Tan Tzu Pin were appointed as directors yesterday.

Both Low and Tan owns Master Knowledge Sdn Bhd, which in turn has a 21.226% stake in Internet specialist TMS (fundamental: 1.85; valuation: 0.9). Master Knowledge is TMS' largest shareholder.

At 11.22am, TMS was traded at 14 sen with some 13 million shares transacted.

Prior to Low and Tan's appointments, TMS announced the resignation of chief executive officer Christopher Chan Hooi Guan, who ceased to be a shareholder in Master Knowledge.

Chan's resignation was effective last Friday. According to TMS, Chan had resigned "to devote more time to operations at the subsidiary level".

(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.)