UEM Sunrise in spotlight after EPF emerges as major shareholder

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KUALA LUMPUR (June 4): Actively-traded UEM Sunrise Bhd rose as much as one sen or 1% to RM1.04 before trading flat after the Employees Provident Fund (EPF) emerged as a major shareholder in the property developer.

At 10.53am, UEM Sunrise (fundamental: 1.5; valuation: 2.6) was traded flat at RM1.03. About seven million shares were traded, making the stock the eighth most-actively traded entity across the exchange.

UEM Sunrise's share price compares with its latest reported net assets per share of RM1.40.

Yesterday, UEM Sunrise said the EPF emerged as a substantial shareholder in the firm after raising its stake to 5.009% last Wednesday (May 27).

The EPF had subsequently acquired more shares in UEM Sunrise, resulting in a stake of 5.19% in the last Friday.

(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.)