KUALA LUMPUR: CLSA Asia-Pacific Markets said the placing out of shares by Gamuda Bhd founder and managing director Datuk Lin Yun Ling of two-thirds of his stake at a time when prospects for the company had never been better sends the wrong signal to the market. “This raises concerns as to whether he knows something that the market does not know as yet,” it said, adding that Lin was on leave and not available for comment. In a report following Lin placing out 70 million shares or a 3.5% stake in the company last Wednesday, CLSA said the corporate deal raised a few concerns. The official reason given for the disposal was estate planning, and that Lin has agreed to a lock-up period of 18 months for his remaining 1.6% stake, said CLSA. Read more>
(The Edge 25-2-2008)
