KUALA LUMPUR (March 2): Rapid Synergy Bhd, which is 29.6%-owned by Datuk Dr Yu Kuan Chon, has acquired an additional 491,500 shares or a 0.2% stake in Hong Leong Capital Bhd (HLCap) between Jan 16 and Feb 27, 2015, for a total of RM6.28 million.

The latest purchase add on to another 0.58% stake which Rapid had acquired earlier.

In January, Rapid had told Bursa Malaysia it had acquired 511,500 shares in HLCap between Dec 19, 2014, and Jan 8, 2015, for a total of RM6.98 million.

Before that, the firm had also acquired 923,800 HLCap shares or a 0.37% stake between Oct 16 and Dec 2, 2014, for some RM12.67 million.

In a filing with Bursa Malaysia today, Rapid (fundamental: 0.95; valuation: 0.3) said the investment was made in the ordinary course of its business.

It added the investment is consistent with its long term intention of deploying capital into “suitable quoted investment opportunities with strong fundamental and excellent compounded annual growth rate, that could enhance its shareholder value in the long term”.

Rapid closed one sen or 0.17% higher at RM5.95 today, giving it a market capitalisation of RM519.36 million.

HLCap (fundamental: 2.7; valuation: 0) closed four sen or 0.37% lower today, at RM10.90. It had a market capitalisation of RM2.7 billion.

(Notes: 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.)