KUALA LUMPUR (July 8): TMC Life Sciences Bhd saw its shares rise as much as 3.6% to 58 sen in intraday trade today, as investors take positive read on Johor crown prince Tunku Ismail Ibni Sultan Ibrahim emerging as a substantial shareholder in the company with a 7.67% stake.

The crown prince had secured 133 million TMC Life shares after he sold an indirect 30% stake in BB Waterfront Sdn Bhd. TMC Life took over the entire stake in BB Waterfront, a wholly-owned unit of Best Blend Sdn Bhd, for RM400 million by issue of shares.

The Johor royal holds a 30% stake in Best Blend, while Singapore tycoon Peter Lim, who controls 70.5% of TMC Life, owns the remaining 70% equity interest in the company.

As at 3.06pm, TMC Life (fundamental: 1.45; valuation: 0.9) shares were traded up 0.89% at 56.5 sen, with 1.98 million shares changing hands and a market capitalisation of RM979.06 million.

(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.)