Friday 29 Mar 2024
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This article first appeared in The Edge Financial Daily, on September 5, 2016.

 

K-Star Sports Ltd (-ve)

SHARES in K-Star Sports Ltd (fundamental: 0.75/3, valuation: 0.9/3) triggered our momentum algorithm for the eighth time this year. The counter closed up 0.5 sen or 5.88% higher at nine sen last Friday, with some 12.83 million shares traded.

K-Star is involved in design, manufacture and distribution of sports footwear, sports apparel and accessories.

On Aug 24, Datin Tan Siew Ching emerged as a substantial shareholder of the company, with the acquisition of 14 million shares or a 1.2% stake in K-Star, bringing her total shareholding in the company to 26.5 million or a 9.9% stake.

On the same date, K-Star Sports International Ltd sold 14 million shares in the company.

Tan is currently the chairman of ACE Market-listed JAG Bhd. The company is involved in total waste management services and information technology services, which develop computer software and provide support for system integration. The stock is currently trading at 0.19 times its book value.

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