STM Has Stake Cut by Malaysian Firm’s Unit

An affiliate of Malaysia’s Berjaya Group Berhad has again reduced its stake in Irvine-based STM Wireless Inc., according to a report filed with the Securities and Exchange Commission.

Berjaya Group (Cayman) Ltd. cut its holdings in STM Wireless Inc. to 8.2% from 11.5% when it sold 237,988 shares of common stock at $6 to $7.20 each from Dec. 16 through Dec. 30. Last month, the group said it sold about 411,000 shares, lowering its stake from 16.7%. The Berjaya subsidiary now holds 575,106 shares.

STM provides satellite communications networks. The company last month was awarded a $5.5-million broadband order from JiTong, a Chinese public data network service provider.

The stock fell 69 cents a share to $6.13 on the Nasdaq market.