KUALA LUMPUR (July 27): Businessman Yee Ying Sung has ceased to be a substantial shareholder of Milux Corp Bhd, after the disposal of a 2.76% equity interest in the household appliance manufacturer. This brings his total stake in the company to 2.75%.

In December last year, Yee had emerged as a substantial shareholder of Milux, holding 3 million shares or a 5.51% direct stake in the company. Yee is the managing director of JS Group, a family-owned property and construction company based in Malacca.

According to a filing with Bursa Malaysia today, Yee had disposed of 1.5 million shares in Milux (fundamental: 1.2; valuation: 0.3) on June 2, 2015, via an offmarket transaction.

It was not disclosed how much the stake was sold off for.

For its first quarter ended March 31, 2015 (1QFY15), Milux narrowed its net loss by 55% to RM339,000, from RM753,000 in 1QFY14, while revenue grew 40% to RM18.04 million from RM12.88 million.

Year-to-date, the counter has fallen 9.73%, underperforming the FBM KLCI’s 2.92% decline within the same period.

Milux shares closed 2 sen or 2% higher at RM1.02 today, giving it a market capitalisation of RM54.41 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.)