KUALA LUMPUR (Feb 26): A London-based investment management firm Edgbaston Investment Partners LLP has emerged as a substantial shareholder in Umno-linked Media Prima Bhd, with a 5.37% stake, making it the fifth largest single shareholder in the group.

Stock exchange filings of Media Prima showed Edgbaston Investment Partners was first listed as a substantial shareholder earlier this month with a 5% stake, after it acquired 750,800 shares via Edgbaston Asian Equity Trust and 166,100 shares via Edgbaston Asian Equity (Jersey) Trust on Feb 8, which pushed its accumulated shares to 55.47 million.  

Then, between Feb 11 and Feb 22, Edgbaston Investment Partners continued accumulating shares in the media group, which has presence in the print media, radio, and free-to-air TV. After accumulating 4.09 million more shares in the company, Edgbaston Investment Partners' total stake rose to 59.56 million shares or 5.37%.

Edgbaston Investment Partners, according to its official website, is an independent investment management firm established in 2008 by Charu Fernando and partners, to specialise in equity investments in the Asia Pacific ex-Japan region.

It was formed with the support and backing of an institutional investment firm Silchester International Investors based in New York and London, and its portfolio is typically invested in 60 to 80 companies diversified across a range of countries, industries and market capitalisation.

Edgbaston Investment Partners' 5.37% stake places it as the fifth single largest shareholder in Media Prima after Mitsubishi UFJ Financial Group's 12.76% (held through Morgan Stanley & Co International PLC), the Employees Provident Fund Board (11.94%), Gabungan Kesturi Sdn Bhd (11.09%) and Altima Inc (7.96%).

Gabungan Kesturi is listed as a wholly-owned unit of Amanah Raya Bhd, which in turn is 100% owned by the Minister of Finance Inc. 

Altima, meanwhile, is owned by Umno.  

In the open market, Media Prima closed unchanged at 43.5 sen at the time of writing, with a turnover of 993,500 shares. At its current price, the company is valued at RM471.41 million, slightly above Edgbaston’s portfolio market capitalisation pre-requisite of US$100 million.