KWAP emerges as substantial shareholder in Hovid

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KUALA LUMPUR (Apr 20): Kumpulan Wang Persaraan (KWAP) has emerged as a substantial shareholder in Hovid Bhd, following the retirement fund's purchase of five million shares on the open market on Apr 8. 

According to Hovid's Bursa Malaysia filing today, KWAP had 38.5 million shares or a 5.042% stake in the company as at April 8.

On April 9, KWAP acquired a further two million shares, increasing its stake in Hovid (fundamental: 2.1; valuation: 0.5) to 5.3% or 40.5 million shares. 

Hovid shares closed one sen higher or 1.92% at 53 sen today with a market capitalisation of RM408.99 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.)