KUALA LUMPUR (March 31): The Ministry of Finance’s special purpose vehicle (SPV), Urusharta Jamaah Sdn Bhd, has ceased to be substantial shareholder of CSC Steel Holdings Bhd, after selling 507,000 shares or a 0.13% stake in the listed company.

Urusharta Jamaah first emerged as a substantial shareholder of CSC Steel on Dec 28, 2018, when it took over the stake from Lembaga Tabung Haji. It owned a total of 27.28 million CSC Steel’s shares, amounting to a 7.38% stakes.

According to Bursa filings, Urusharta Jamaah started to pare its stake in CSC Steel since March 6.

Shares of CSC Steel closed up 0.5 sen or 0.8% today at 60.5 sen. Year-to-date, the stock has fallen 42.9%.