KUALA LUMPUR: Integrax Bhd co-founder and major shareholder Amin Halim Rasip acquired an additional 1.03 million shares or a 0.34% stake in the company through open market transactions yesterday.

He now holds a total of 69.65 million shares or 23.15% of Integrax (fundamental: 1.65; valuation: 0.6), the company’s filing showed. The prices he paid for each share ranged between RM2.74 and RM2.80, marginally higher than the RM2.75 offer price from Tenaga National Bhd (TNB).

Integrax was traded between RM2.73 and RM2.84 yesterday before closing at RM2.77, gaining three. Some 1.68 million shares were traded, with Amin’s purchases accounting for 61.2% of  their  traded volume.

In The Edge Financial Daily report yesterday, Amin said Integrax’s shares should be worth RM5 apiece and RM10 in three years. He has rejected TNB’s RM2.75 offer price and has even urged minority shareholders to hold on to their shares, even though TNB’s offer was at a 22% premium to the stock’s traded price before it made the offer a week ago.

“All I can say is shareholders can expect higher returns in [the near] future,” he was quoted as saying.

The Edge Research’s fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.

This article first appeared in The Edge Financial Daily, on January 23, 2015.