1.8% of Malaysia Steel Works shares cross off market

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KUALA LUMPUR (Dec 30): Malaysia Steel Works (KL) Bhd witnessed 4.12 million shares or 1.8% stake crossed off market today for RM3.3 million.

According to Bloomberg data, a single block of shares in the manufacturer of steel products changed hands via direct business transaction at 3.21pm today.

The block of shares was transacted at 80 sen per share, 5.5 sen or 6.4% below its trading share price of 85.5 sen at the time of the transaction.  

A filing with Bursa Malaysia showed that Masteel’s single largest shareholder is its managing director and chief executive officer, Datuk Seri Tai Hean Leng.

As at Aug 15, Tai has a direct interest of 1.81% or 4.12 million shares in Masteel and an indirect interest of 32.23% via TYY Resources Sdn Bhd.

Masteel shares fell to a one-and-a-half-year low of 80 sen on Dec 24, before rebounding to its current level.

It closed 5.5 sen or 6.51% higher at 90 sen today, giving it a market capitalisation of RM201.25 million.