Monday 11 Dec 2023
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KUALA LUMPUR (Nov 11): Shapadu Corp Sdn Bhd is no longer a substantial shareholder in Gas Malaysia Bhd, the cooking gas provider told Bursa Malaysia today.

Gas Malaysia, in which tycoon Tan Sri Syed Mokhtar Albukhary has an indirect interest, said Shapadu sold 17.66 million of Gas Malaysia shares on Nov 9, and hence ceased as a substantial shareholder.

This was on top of the 2 million Gas Malaysia shares that Shapadu disposed of on Oct 2, which left Shapadu with 77.44 million or 6.03% direct stake in Gas Malaysia at the time.

Gas Malaysia shares closed flat at RM2.39 today after being traded between RM2.35 and RM2.40. The latest price gives it a market capitalisation of RM3.07 billion.

(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.)


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