KUALA LUMPUR (March 6): Datuk Seri Johari Abdul Ghani and his son Amir Nashrin Johari have emerged as the largest shareholder bloc in Media Prima Bhd (KL:MEDIA), collectively holding 32.96% of the company — just a fraction below the 33% threshold that would trigger a mandatory general offer (MGO).
This follows Amir Nashrin's acquisition of 88.33 million shares, representing a 7.96% stake in Media Prima, last Friday. Johari, meanwhile, owns 25% of Media Prima through his investment vehicle JAG Capital Holdings Sdn Bhd.
Their combined shareholding has now surpassed that of Aurora Mulia Sdn Bhd, the private vehicle of Tan Sri Syed Mokhtar Albukhary, which remains at 31.9%.
At the same time, Leasing Corporation Sdn Bhd exited its position, disposing of its entire 61.38 million shares or a 5.53% stake. Leasing Corp is owned by Sisma Vest Sdn Bhd, chaired by Datin Mariam Prudence Yusof, the widow of Datuk Syed Ibrahim Syed Mohamed. She also sits on the board of CI Holdings Bhd (KL:CIHLDG), where Johari is chairman.
The Johari family’s influence in Media Prima extends beyond equity. Johari’s other son, Amir Rasyidi Johari, serves as the group's chief innovation officer. He was also recently appointed deputy CEO of the group’s content and television networks division.
Despite a challenging media landscape, Media Prima has been profitable in the last five years.
For the first half ended Dec 31, 2025 (1HFY2026), net profit nearly doubled to RM10.49 million from RM5.39 million a year earlier, despite a 4.6% decline in revenue to RM403.49 million.
The earnings growth was achieved through aggressive cost management initiatives, which reduced the group's operating expenses, cushioning the impact of weaker top-line performance.
Beyond Media Prima, Johari — via JAG Capital Holdings — controls significant stakes in other listed companies: 62.78% in JAG Capital Bhd (KL:JAGCPTL), formerly KUB Malaysia Bhd; 32.96% in CI Holdings; and 20.29% in MyNews Holdings Bhd (KL:MYNEWS).
Shares in Media Prima closed unchanged at 30 sen on Friday, valuing the company at RM332.76 million. Over the past year, the counter has fallen 34.1%.