AIG Asian Opportunity Fund ceases to be Eng Tek substantial shareholder

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AIG Asian Opportunity Fund ceases to be Eng Tek substantial shareholder

Written by Joseph Chin

Friday, 19 March 2010 15:42

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KUALA LUMPUR: The AIG Asian Opportunity Fund has ceased to be a substantial shareholder in Eng Teknologi Holdings Bhd after it disposed of 1.29 million shares from March 11 to 16, when the shares were trading at their highest since 2004 at RM2.85.

A filing with Bursa showed the Cayman Islands registered fund's shareholding was reduced to 4.96% or 5.93 million shares after the recent disposals.

It disposed of 1.05 million shares on March 11 and the remaining 240,000 shares on March 12, 15 and 16. The share price hit its highest since May 2004 at RM2.85.

OSK Research had a Buy call on Eng Tek with a target price of RM3.25 on Thursday, March 18 while Affin Securities Research has a Buy with a target price of RM2.99 on Feb 24.

Slipping further below 1,300< Prev		Next >Maybank Research ups Hartalega’s earnings forecast

Last Updated on Friday, 19 March 2010 21:35

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