KUALA LUMPUR (May 21): Raya International Bhd saw 2.50 million of its shares, representing 1.92% of its shareholdings crossed off market today.
According to Bloomberg, Raya International’s shares were transacted at the price of 15 sen apiece which translates to a total value trade of RM375,000.
Today Raya International (fundamental: 0.35; valuation: 0) shares fell 5.88% or 1 sen to close at 16 sen.
Bloomberg data shows that the group’s major shareholder is Cheng Kiat Tan who holds an 8.63% interest or 11 million shares in Raya International.
Its second largest shareholder is Hsuan Ying Kao with a 4.89% stake while Liew Kok Chiang is the third largest shareholder with a 4.51% interest.
None of the top three major shareholders of the group appears to be on the board of directors of the air and water filter manufacturing and distributing company.
However note that the group had recently seen a change in boardroom where Datuk Izham Yusoff was redesignated as the group’s chairman. He was previously an independent and non-executive director.
(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.)