Nexgram substantial shareholder Ooi buys more shares

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KUALA LUMPUR (June 9): Nexgram Holdings Bhd’s substantial shareholder Datuk Ooi Kock Aun has mopped up more shares, raising his equity stake to 9.36% as at June 1.

The latest filing to Bursa Malaysia shows that Ooi, who is said to be the associate of Nexgram’s chief executive officer Datuk Tey Por Yee, bought 5.29 million shares, or 0.28%, last Monday at 12 sen per share. Prior to this, Ooi also bought 10 million shares, or 0.53%, at 12.5 sen on May 25.  

Interestingly, Ooi sold off 97 million shares, or 5.14%, between Oct 29 and Nov 6 last year when Nexgram (fundamental: 2.1; valuation: 1.7) share price was between 10 sen and 11 sen.  

Nexgram share price has staged a rebound in mid-December last year, climbing from 5.5 sen to the peak of 13 sen in the middle of last month. However, it slipped to 10 sen today.   

Meanwhile, Tey, who is also the managing director, also bought more shares. Last month he acquired 61.1 million shares, or 3.2%. This effectively upped his stake in Nexgram to 14.87%.

(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.)