Utusan Mewah disposes of 1.21% stake in Seacera

Utusan Mewah disposes of 1.21% stake in Seacera
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KUALA LUMPUR (Oct 26): Utusan Mewah Sdn Bhd has disposed of 2.19 million shares representing a 1.21% stake in Seacera Group Bhd.

According to its filing with the bourse, Utusan Mewah had disposed of the shares on Oct 19 for 55 sen a piece. It is not known to whom the shares were sold to.

Based on previous filings, Utusan Mewah had emerged as a substantial shareholder of Seacera on May 30, after acquiring 10.5 million shares or a 5.79% stake in the company.

Following the disposal, Utusan Mewah is left with 8.31 million shares or a 4.58% stake in Seacera.

Seacera reported a net profit of RM289.03 million for the second quarter ended June 30, 2015, a significant improvement from RM1.67 million in the previous year, while revenue fell 9% to RM14.34 million from RM15.84 million.

For the cumulative six-month period, net profit soared to RM290.21 million from RM12.60 million a year earlier, while revenue jumped 27% to RM37.38 million from RM29.52 million.

Seacera closed three sen or 3.7% lower at 79 sen, bringing its market capitalisation to RM148.8 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.)