KUALA LUMPUR (Dec 9): YTL Land & Development Bhd’s second largest shareholder Bara Aktif Sdn Bhd, which is controlled by businessmen Datuk Mohamed Zainal Abidin Abdul Kadir and Raja Datuk Wahid Raja Kamaral Zaman, has ceased to be a substantial shareholder in the company.

In a filing with Bursa Malaysia today, YTL Land said Bara Aktif had disposed of its entire shareholdings of 61.13 million shares, representing a 7.37% stake in the property developer, on Dec 2.

In a separate filing, the group said Raja Wahid has also ceased to be a substantial shareholder in the company, after Bara Aktif's disposal.

Zainal, on the other hand, remains a substantial shareholder in the company, as he still holds a direct interest of 35.68 million shares — representing a 4.3% stake in the company, and an indirect interest of 16.88 million shares or a 2.04% indirect stake, through his vehicle MZK Realty Sdn Bhd.

YTL Land shares closed down 1 sen or 1.2% to 82.5 sen today, rising to a market capitalisation of RM684.1 million.