Friday 29 Mar 2024
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KUALA LUMPUR (Aug 8): Sultan Ibrahim Sultan Iskandar of Johor has emerged as the second largest individual shareholder in 7-Eleven Malaysia Holdings Bhd with an 8.4% stake, according to a statement from the company.

He has acquired 93.7 million shares in the company since July, said 7-Eleven Malaysia.

“On behalf of the board of 7-Eleven Malaysia, we welcome Tuanku as one of our substantial shareholders, especially at a time when we are expanding our retail footprint to increase our market share and sustain our profitability. 

“This truly reflects Tuanku’s confidence in the performance and future potential of 7-Eleven Malaysia. We believe that with a shareholder of Tuanku’s stature, 7-Eleven [Malaysia]’s position in the retail industry will be further strengthened,” said 7-Eleven Malaysia chairman Tan Sri Abdull Hamid Embong. 

“I am very pleased that DYMM Sultan Ibrahim has increased his stake in 7-Eleven Malaysia. This augurs well for the company given that Tuanku is known to be an astute investor with a keen eye for companies and businesses with strong fundamentals and good growth potential,” said 7-Eleven's largest shareholder Tan Sri Vincent Tan Chee Yioun in the same statement.

Meanwhile, Berjaya Times Square Sdn Bhd and Sublime Cartel Sdn Bhd disposed of a total of 43.9 million shares or 3.94% in 7-Eleven on August 3, 7-Eleven said in a Bursa Malaysia filing today. Consequently, Berjaya Corp Bhd, Berjaya Group Bhd, and Juara Sejati Sdn Bhd had ceased to be substantial shareholders in 7-Eleven as they had previously held deemed interests via the above two companies, the filing said.

On Aug 1, it was announced that Berjaya Retail Bhd had disposed 32 million shares or 2.88% in the company to lower its stake to 33.89% or 376.47 million shares. This reduced Tan's interest in the company to 41.27%, according to 7-Eleven’s filing with Bursa Malaysia on Aug 3.

7-Eleven shares closed down 1 sen or 0.71% today to RM1.40 and for a market capitalisation of RM1.5 billion.

 

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