KUALA LUMPUR (July 2): Shares of Scanwolf Corp Bhd continued to tumble today, over ongoing concerns about its boardroom tussle and possible irregularities in the implementation of its development projects.

As at 3.10pm, the stock fell as much as 27.5% to 29 sen in intraday trading, with 23.3 million shares done. Its market capitalisation stood at RM25.59 million.

It is worth noting that its managing director Datuk Ch'ng Kong San and David Chang Nyen Wee, the two largest shareholders of Scanwolf (valuation: 0.9; fundamental: 0.55), are no longer board members of the company.

They were removed at an extraordinary general meeting on June 17, 2015. Hence, it raises question on whether the duo will sell their stakes in Scanwolf.

Ch'ng owns 7.53 million shares or a 8.7% stake in the company, while Chang, via Better Project Management Sdn Bhd, has 20 million shares or a 26.54% stake.

(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.)