KUALA LUMPUR (Feb 4): Property developer Matrix Concept Holdings Bhd saw 20 million units of its shares, which represent a 4.37% stake in the company, traded off market today for RM54.6 million.

According to Bloomberg data, the shares were moved in two blocks of 10 million each, with the trasaction price of RM27.3 million per block or RM2.73 per share.

However, it is not immediately known who the parties in the transactions were.

Matrix Concept (fundamental 1.85; valuation: 1.2) is principally engaged in property development.

The company's substantial shareholders are Datuk Lee Tian Hock, with a 19.81% stake; followed by Shining Term Sdn Bhd, with 15.93%; and Supreme Interest Sdn Bhd's 5.01%.

The stock dipped to a low of RM2.216 on Dec 15 last year, before having climbed back to RM2.75 as of market close today.

The counter closed unchanged today, giving it a market capitalisation of RM1.259 billion. Some 387,200 shares changed hands.

(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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