Taliwork’s major shareholder increases stake in Thriven Global to 9.89%

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KUALA LUMPUR (March 18): Lim Chee Meng, the controlling shareholder of Taliworks Corp Bhd, has emerged as the third largest shareholder in Thriven Global Bhd, in which Home Minister Tan Sri Muhyiddin Yassin’s son is the biggest stakeholder.

One block of 30 million shares has been placed out to Lim. This has bumped up Lim’s shareholding to 9.89%, or 54.11 million shares in Thriven Global, formerly known as Mulpha Land Bhd, according to its filing to Bursa Malaysia this evening.

The share purchase will make Lim the third-largest shareholder of Thriven Global after Teladan Kuasa Sdn Bhd, which is the largest shareholder holding a 27.16% stake, followed by Mulpha International Bhd with a 22.18% stake.

Datuk Fakhri Yassin Mahiaddin, the son of Muhyiddin, is deemed to be the major shareholder through Teladan Kuasa. Fakhri is the executive chairman of Thriven.

This confirms The Edge Financial Daily article today entitled “Taliworks boss said to take up substantial stake in Thriven”.

The filing did not disclose the price of the transaction. However, Thriven Global had on March 7 fixed the issue price for the private placement at 19.5 sen per placement share. As such,  the total transaction amounts to RM5.85 million.

Shares of Thriven Global closed 9% or two sen higher today at 24 sen, giving it a market capitalisation of RM131.27 million.