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OCR Land buys 7.6% stake in Takaso

KUALA LUMPUR (Jan 23): Private property developer OCR Land Holdings Sdn Bhd had acquired today, 15 million shares or a 7.6% stake in Takaso Resources Bhd.

In a filing with Bursa Malaysia, Takaso (fundamental:1.25; valuation: 0.3) announced that OCR had acquired the shares today via direct business transaction, and raised its direct interest in Takaso to 13.88% or 27.5 million shares.

A separate filing showed that Ong Kah Hoe is a substantial shareholder of OCR Land, and is a deemed interested party in the transaction.

Following the transaction by OCR, Ong is deemed to own a total of 19.05% indirect interest or 37.74 million shares in Takaso, on top of a 9.4% direct interest or 18.63 million shares in the baby products and condoms manufacturer.

Takaso rose 6.5 sen or 10% to close at 71.5 sen today, giving it a market capitalisation of RM141.62 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. Go to www.theedgemarkets.com for more details on a company's financial dashboard.)

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