Sabri emerges as substantial shareholder in Pertama Digital

Sabri Abdul Rahman

Sabri Abdul Rahman

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KUALA LUMPUR (March 11): Pertama Digital Bhd executive director Sabri Abdul Rahman has emerged as a substantial shareholder in the group.

The group said Sabri today served a notification of his right through contract to take on an additional 115 million shares, or 26.54% equity, in Pertama Digital.

He currently holds 16.41 million shares or a 3.79% stake in the group, added Pertama Digital in a filing with Bursa Malaysia.

In a separate statement, Sabri said the acquisition signifies his commitment and determination to take up a firmer position in Pertama, formerly known as Sinotop Holdings Bhd, and ramp up its digital business.

"In order to strengthen my alignment with the future of Pertama Digital, I have acquired a right to purchase additional ordinary shares which will increase my shareholding in the company to 131,410,438 ordinary shares or about 30.3% equity," Sabri said.

He added that upon final completion of Pertama Digital's disposal of its former textile business, the group will focus on building up its digital business.

"We are receiving potential investors who share our vision to invest in and nurture great fintech and govtech companies that build impactful, inclusive solutions for Malaysians in the digital and mobile space. These developments will be announced at the appropriate times," he said.

In 2019, the group disposed of its China-based wholly-owned subsidiary Be Top Group Ltd for RM70 million. Be Top was involved in the production of customised woven loom-state fabrics made from cotton, synthetic and mixed yarn.

According to its website, Pertama Digital invests in fintech and govtech companies that build impactful, inclusive solutions for Malaysians in the digital and mobile space.

Sabri is also the executive director of Dapat Vista (M) Sdn Bhd, a company in which Pertama holds shares indirectly.

Shares of Pertama Digital settled 1.5 sen or 3.75% higher at 41.5 sen, giving the group a market capitalisation of RM179 million.

S Kanagaraju