KUALA LUMPUR (April 17): NEXG Bhd (KL:NEXG), formerly known as Datasonic Group Bhd, said on Thursday that Urusharta Jamaah Sdn Bhd, a special purpose vehicle established under the Ministry of Finance, has ceased to be a substantial shareholder of the company.
This came after Urusharta Jamaah disposed of two million shares — representing a 0.07% stake in the information and communications technology solutions provider — on Monday. Based on the closing price of 26 sen on that day, the stake is estimated to be worth RM520,000.
After the sale, Urusharta Jamaah’s stake in NEXG dropped to 4.94%, falling below the 5% threshold needed for it to be considered a substantial shareholder.
Urusharta Jamaah had acquired the shares from Lembaga Tabung Haji as part of the latter’s balance sheet restructuring exercise in 2019. Notably, it has been gradually paring down its stake in NEXG since the beginning of this year — from 246.66 million shares to the current 137.33 million shares.
NEXG’s executive chairman and CEO Datuk Abu Hanifah Noordin is currently the largest shareholder in the company, with an 8.13% direct stake and a 0.22% indirect stake.
Another major shareholder is Tan Sri Mohd Khairul Adib Abd Rahman, former Public Service Department (JPA) director general, who became a substantial shareholder last month through his company, Kuantum Juang Sdn Bhd, which holds 170 million shares in NEXG.
NEXG currently supplies MyKad identity cards and passport chips to the Malaysian government. Its shares closed 5.5 sen or 21.2% higher at 31.5 sen on Thursday, giving the company a market capitalisation of RM935.9 million.