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Thursday, June 23, 2011

Substantial shareholder emerges in CSC Steel (Edge)

A substantial shareholder has emerged in CSC Steel Holdings Bhd with Gan Thian Chin of Singapore owning a direct 5.01% stake.

A filing with Bursa Malaysia showed Gan held 18.75 million shares as at June 21 after acquiring the shares from the open market.

CSC Steel shares closed at RM1.75 on that day and it was trading at a price-to-earnings of 10.45 times.

CSC Steel Asia is the single largest shareholder with 45% or 171 million shares.

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