Mexter Technology's CEO continues to trim stake

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KUALA LUMPUR (July 22): Mexter Technology Bhd's managing director and chief executive officer Ivan Sia Teck Fatt continues to pare his stake in the ACE Market-listed company, this time selling a total of 7.72 million shares through the open market.

A filing with Bursa Malaysia today showed that Sia sold one-fifth or 3.926% of his holdings in the company – 5.5 million shares or 2.795% on Monday and another 2.22 million shares or 1.131% – yesterday for RM695,241 or 9 sen per share.

After the shares disposal, he holds a direct interest of 12.02% or 23.66 million shares in Mexter.

Sia had sold 4.4 million shares, also in the open market, the week before. In a span of two weeks, Sia has sold down his equity interest in the company by 33.9%.

Mexter is in the e-manufacturing business and helps high volume discrete and hybrid manufacturers to efficiently operate their production assets.

Mexter (fundamental: 1.15; valuation: 0.3) shares closed unchanged at 9 sen today, giving it a market capitalisation of RM17.71 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.)