KUALA LUMPUR (March 23): Datuk Jaganath Derek Steven Sabapathy has ceased to be a substantial shareholder of Scicom (MSC) Bhd, according to the latest filing to Bursa Malaysia.

A filing with Bursa Malaysia today showed that he disposed of 1.5 million shares yesterday.

Jaganath, who is also the founder and CEO of Tribeca Real Estate Asset Management Sdn Bhd, first emerged as a substantial shareholder of Scicom in December 2014 after acquiring a 5.83% stake in the company at 10 sen apiece.

Shares in Scicom closed up 7.08% or four sen at 60.5 sen today, bringing it a market capitalisation of RM215.05 million.