9. Kencana deputy chairman buys 25m shares

KUALA LUMPUR: Kencana Petroleum Bhd deputy chairman Chong Hin Loon acquired 25 million Kenanca shares from the major shareholder Khasera Baru Sdn Bhd on July 16. A filing with Bursa Malaysia showed Chong’s shareholding increased to 101.3 million shares or 11.23% after the acquisition of the 2.77% stake. A separate filing showed Khasera’s stake was reduced to 383.53 million shares or 42.52% after the disposal of the shares. The share price closed at RM1.89 on that day. Its 52-week high was RM3 on July 26 last year while its 52-week low was on March 18 when it fell to RM1.20. At the current price of RM1.90, Kencana is trading at a trailing price-to-earnings of 21.06 times. Kencana provides integrated engineering and fabrication of production facilities for the oil and gas... [read full story]