LBS Bina buys 561,800 shares in ML Global

KUALA LUMPUR (Jan 20): Property developer LBS Bina Group Bhd has tightened its grip in ML Global, after acquiring a total of 561,800 shares in the latter via four open market transactions last week.

Filings with Bursa Malaysia today showed LBS Bina (fundamental score: 1; valuation score: 1.2) had acquired 210,100 shares in ML Global (fundamental: 0; valuation: 0.3) at 41.3 sen last Tuesday, and 145,300 shares at 41.6 sen last Wednesday.

Last Thursday, LBS Bina bought an additional 90,000 shares at 41.5 sen, and another 116,400 shares in the company at 41.9 sen last Friday.

After the transactions, LBS Bina holds 20.46 million shares or a 22.82% direct interest in ML Global, which manufactures roof tiles steel trusses and provides roof designs and re-roofing works.

ML Global closed 3.45% or 1.5 sen lower at 42 sen, giving it a market capitalisation of RM37.65 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.)

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