KUALA LUMPUR (May 5): Uzma Bhd said today that Urusharta Jamaah Sdn Bhd has ceased to be a substantial shareholder in the company after the latter disposed of 1.17 million Uzma shares on March 23, leaving it with 15 million shares, representing a 4.69% stake in the company. 

Urusharta Jamaah is the special-purpose vehicle (SPV) tasked to take over the assets previously owned by Lembaga Tabung Haji. 

According to Uzma’s filings, its other substantial shareholder is Tenggiri Tuah Sdn Bhd with 34.54%, as well as Creador Sdn Bhd chief executive officer Brahmal Vasudevan with control of over 5.16%.

Tenggiri Tuah is the vehicle of Uzma’s chief executive officer Datuk Kamarul Redzuan Muhamed.

Uzma is among the list of companies that Urusharta Jamaah has pared down its stake to below 5% in recent months.

The other listed companies include vessel operator Alam Maritim Resources Bhd, CSC Steel Holdings Bhd, property groups MCT Bhd and Eastern & Oriental Bhd, construction group WCT Holdings Bhd, Star Media Group Bhd and Puncak Niaga Holdings Bhd. 

Urusharta Jamaah had also reduced its stake in Icon Offshore Bhd in January, before buying back Icon shares in February to re-emerge as a substantial shareholder of the vessel operator.

Uzma’s share price has tumbled by 37% since the start of the year. The counter gained three sen or 5.22% to 60.5 sen today, valuing the group at RM193.62 million.