KUALA LUMPUR (April 23): Seni Jaya Corporation Bhd (KL:SJC) has seen the emergence of two new substantial shareholders following the completion of its acquisition of outdoor advertising firm Vision OOH Sdn Bhd.

Lawrence John Cannard was issued 43.55 million new shares in Seni Jaya, representing a 16.03% stake, while Chong Yan Moy received 14.52 million shares, equivalent to a 5.35% stake.

The acquisition of Vision OOH, first announced in February last year, was fully settled via the issuance of new shares at 31.6 sen apiece, valuing the transaction at RM18.35 million.

Separately, Seni Jaya said it has mutually agreed with vendors to extend the deadline to fulfil conditions precedent for its proposed acquisition of Unilink Outdoor Sdn Bhd to June 19.

The Unilink acquisition is valued at RM39.5 million, to be satisfied through RM11.85 million in cash and the balance via share issuance at 31.6 sen per share.

Unilink is owned by Seni Jaya’s major shareholder and executive director Ong Kah Hoe. Based on the company’s circular, Ong’s stake in Seni Jaya is expected to rise to 23.61% from 6.23% upon completion of the acquisitions and a private placement exercise.

Following these corporate exercises, Cannard’s shareholding is projected to be diluted to 10.29%, while Chong’s is anticipated to come down to 3.43%.

Meanwhile, the incumbent largest shareholder in Seni Jaya, Datin Lee Nai Yee, is expected to see her stake diluted to 6.05% from 11.98% following the completion of the corporate exercises.

Seni Jaya’s financial performance has been on an improving trajectory.

For the six months ended Dec 31, 2025, the group recorded revenue of RM44.9 million, up 22% year-on-year from RM36.8 million, while profit before tax rose 18% to RM10.6 million.

The stronger showing was underpinned by higher billboard occupancy rates, disciplined cost management and effective execution of strategic initiatives across its asset base.

The group said it remains focused on strengthening its market position through portfolio expansion and integration. The planned acquisitions of Unilink Group, Vision OOH and Ganad Media are expected to enhance its nationwide footprint, broaden its premium inventory and unlock operational synergies for sustainable long-term growth.

Shares in Seni Jaya closed down 0.5 sen or 0.9% to 54.5 sen on Thursday, valuing the group at RM116.38 million. Over the past one year, the stock has gained 75.8%.