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EPF no longer substantial shareholder in UEM Sunrise

KUALA LUMPUR (March 30): The Employees Provident Fund (EPF) has pared its stake in UEM Sunrise Bhd, thus ceasing to be a substantial shareholder in the property developer.

According to a Bursa Malaysia filing today, the EPF disposed of 2.42 million shares or a 0.05% stake in UEM Sunrise (fundamental: 1.5; valuation: 1.8), leaving it with 226.24 million shares or a 4.98% stake.

This is compared with the 228.66 million shares or 5.04% stake that EPF held on March 13, according to another filing.

UEM Sunrise shares closed unchanged today at RM1.36 today, bringing it to a market capitalisation of RM6.171 billion.

(Notes: 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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