KUALA LUMPUR (Oct 8): Media Prima Bhd (KL:MEDIA) has clarified that Tan Sri Syed Mokhtar Al-Bukhary remains a substantial shareholder of the media group.
This comes after Aurora Mulia Sdn Bhd’s (AMSB) confirmation in a letter that it still holds a direct interest of 353.82 million shares, representing a 31.9% stake in Media Prima, and Syed Mokhtar continues to hold his substantial shareholding in the company via AMSB, said Media Prima in a statement.
Media Prima emphasised that this clarification is intended to ensure complete transparency and address any potential misinterpretations arising from the company’s announcement to Bursa Malaysia on Oct 7, 2024.
On Oct 7, Media Prima via its Bursa filing showed that Sutera Bakti Sdn Bhd, Tradewinds Group (M) Sdn Bhd and Restu Jernih Sdn Bhd (RJSB) — indirect substantial shareholders of the company via AMSB — have ceased to be substantial shareholders in Media Prima following the disposal of 353.82 million shares.
AMSB emerged as a substantial shareholder in Media Prima when it acquired the 31.9% stake in October 2019 by taking over the interests of Umno through Gabungan Kesturi Sdn Bhd and Altima Inc. A search on the Companies Commission of Malaysia website shows that Syed Mokhtar’s son, Syed Danial Syed Mokhtar Shah, is on Aurora Mulia’s board.
Last month, Media Prima saw the emergence of a new substantial shareholder, Leasing Corp Sdn Bhd, through the acquisition of a 5.53% stake. Leasing Corp is owned by Sisma Vest Sdn Bhd, whose chairman is Datin Mariam Prudence Yusof.
According to Bloomberg, JAG Capital, the investment vehicle of Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani, holds a 25% stake in Media Prima while Morgan Stanley & Co controls a 10.18% stake.
Media Prima publishes The New Straits Times, Berita Harian and Harian Metro and owns television channels TV3, 8TV, ntv7 and TV9.
Shares of Media Prima closed up one sen or 2.2% at 47.5 sen on Monday, giving the company a market capitalisation of RM527 million.
Correction:
With reference to the article dated Oct 7 titled “Syed Mokhtar-linked firm ceases to be shareholder in Media Prima after offloading 31.9% stake”, we wish to correct that Aurora Mulia remains as the major shareholder of Media Prima and not as reported. The error is regretted.