KUALA LUMPUR (Sept 7): Raya International Bhd saw the emergence of a new substantial shareholder in Water Beaute World Bhd after the latter acquired 7.32 million shares representing 5.61% equity in the company.

A filing to Bursa Malaysia showed that Water Beaute acquired the shares on Sept 2.

The emergence of Water Beaute in Raya International (fundamental: 0.85; valuation: 0) also saw three people — Lui Leong Eng, Gan Siew Eng and Lee Chee Choon — becoming new substantial shareholders in Raya International with an indirect interest of 5.61% each by virtue of their connection with Water Beaute.

The trio each holds more than 15% of the paid up share capital in Water Beaute, according to separate Raya International filings.

Raya International mainly manufactures and distributes air and water filters. It also designs and installs clean room facilities.

Shares in Raya International traded unchanged at 17.5 sen for a market capitalisation of RM22.8 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.)