KUALA LUMPUR (Jun 3): Interest in Nexgram Holdings Bhd rises today but share price is down by 0.5 sen at 11 sen today. The stock is the most actively traded counter on Bursa Malaysia with over 51 million shares crossing hands shortly before closing bell.

It is noticed that its chief executive officer cum managing director Datuk Tey Por Yee and his associate Datuk Ooi Kock Aun have raised their stakes in the company.

According to filings with the stock exchange, Tey had acquired 1.69 million shares or 0.09% stake at 12 sen per share on May 29, increasing his total shareholdings to 23.37%. Last month, he bought 61.1 million shares, or 3.2% equity stake, in Nexgram.

Ooi, on the other hand, had on May 25 acquired five million shares or 0.26% at 12.5 sen apiece; he has 9.08% stake in the group after the acquisition.

This came after news reported that Nexgram (fundamental: 2.1; valuation: 1.7) is in talks with 1 Malaysia Development Bhd (1MDB) to buy land in Tun Razak Exchange.

The stock has more than doubled since mid-December from the low of 5.5 sen to a high of 13 sen in the middle of last month.

(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.)