21-11-2007: Dynaura sells 2.67% stake in Landmarks

21-11-2007: Dynaura sells 2.67% stake in Landmarks
by Joseph Chin

KUALA LUMPUR: Dynaura Trading Sdn Bhd disposed of 12.84 million shares of Landmarks Bhd, or a 2.67% stake, on Nov 6 at an average price of RM2.96 a piece.

Filings with Bursa showed that after the disposal, Dynaura’s shareholding in Landmarks was reduced to 24.9 million shares or 5.18%.

Nik Suffian Mohd Zain and Datuk Othman Hashim were deemed interest in the transaction via their interest in Dynaura.

Landmarks is involved in property investment and development. Its subsidiary Bintan Treasure Bay Pte Ltd (BTB) is planning a multi-billion ringgit resort on Bintan Island, Indonesia, with a gross development value of RM4 billion.

Genting Bhd has been accumulating Landmarks shares, acquiring nearly 1.96 million shares from Nov 12 to 16 to increase its shareholding to 142.68 million shares or 29.68%.

Landmarks 52-week high is RM3.60 on Oct 30 while its 52-week low is RM1.50 on Aug 17. Its price earnings is 13.62 times.