KUALA LUMPUR (Feb 3): Lembaga Tabung Haji has emerged as a substantial shareholder in newly listed Orkim Bhd (KL:ORKIM), further increasing institutional participation in the clean tanker operator.

A bourse filing on Tuesday showed the pilgrim fund as having acquired an additional 272,400 shares in Orkim on Jan 29, lifting its stake to 50.06 million shares or 5.006%.

Institutional ownership in Orkim is already extensive.

Based on its latest filings, Permodalan Nasional Bhd holds a 47.31% stake, while Kumpulan Wang Amanah (Diperbadankan) (KWAP) owns 9.58%, Prudential’s insurance fund via Eastspring Investments Bhd 6.67% and the Employees Provident Fund 6.14%.

Earlier this year, Orkim secured additional contracts and extended voyage charter agreements with Shell Malaysia Sdn Bhd, Shell Timur Sdn Bhd and Boustead Petroleum Marketing Sdn Bhd (BHPetrol).

BHPetrol is among Orkim’s top five customers, which collectively contribute over 90% of the group’s revenue. Other major clients include Petroliam Nasional Bhd (PETRONAS), Shell Group, Petron Malaysia Refining & Marketing Bhd (KL:PETRONM) and Japan’s Nippon Gas Line Co Ltd.

Shares in Orkim closed unchanged at 97 sen on Tuesday, valuing the company at RM970 million. The tanker operator debuted on Bursa Malaysia’s Main Market on Dec 9 last year at an IPO price of 92 sen.