KUALA LUMPUR (Oct 1): Substantial shareholder Roaring Achievements Sdn Bhd (RASB) has ceased to be a substantial shareholder of CWorks Systems Bhd, after disposing of seven million shares, representing a 5.79% equity stake in the company.

According to the filing to Bursa Malaysia, the block of shares was traded through off-market trade on Sept 18, 2015. However, the transaction price was not disclosed.

It was also noted that RASB had sold five million shares, equivalent to a 4.13% stake in the company, on Sept 7.

After the share sales, RASB's shareholding is estimated to be 1.47 million shares, or 1.21% stake, in CWorks.

For the second quarter ended June 30, 2015, CWorks saw its net loss contract 58% to RM317,000, from RM752,000 in the previous year's corresponding quarter, while revenue rose 16% to RM1.07 million, from RM922,000.

For the cumulative six months to June 30, net loss narrowed to RM737,000, from RM1.29 million in the year before, while revenue was slightly lower at RM1.72 million, compared to RM1.75 million.

Year-to-date, CWorks' share price has fallen 6.3%. CWorks rose 3 sen or 12.5% to 23 sen, giving it a market capitalisation of RM27.23 million today.

(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.)