KUALA LUMPUR: Global Emerging Markets Specialist Capital Pte Ltd disposed of 10 million shares of SAAG Consolidated (M) Bhd on May 4 and 5.

A filing with Bursa Malaysia showed the shares were disposed of in the open market. After the disposal of the shares, the Singapore-based fund saw its direct stake reduced to 66.85 million shares or 9.35%.

SAAG shares rose one sen to 38.5 sen at the midday break on May 13. There were 58.91 million shares transacted at prices ranging from 37 sen to 39 sen. The share price is at its highest since August last year.

SAAG is trading at a price to earnings of 7.77 times, which is below the average of 22.89 times for the oil equipment services sector.

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