GEORGE TOWN (Aug 10): The Media Shoppe Bhd (TMS) chief executive officer Christopher Chan Hooi Guan has ceased to be a substantial shareholder in the Internet-based applications and solutions provider.

In a filing with Bursa Malaysia, it was revealed that Chan has ceased to be a substantial shareholder in the company today when he disposed of 66 million shares, representing a 7.58% stake in the company.

Chan and another shareholder Lee Chi Yeng have both ceased their shareholdings in the company through the disposal of their shareholdings in Master Knowledge Sdn Bhd, which is the single largest shareholder of TMS.

It is not known to whom the shares were sold to, or at what price.

Year-to-date, TMS (fundamental: 1.85; valuation: 0.9) shares have gained 35% to close at 13.5 sen today, giving it a market capitalisation of RM58.74 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.)