KUALA LUMPUR (Oct 16): Datuk Vijayasundaram Jeyabalan has emerged as a substantial shareholder in Turiya Bhd (KL:TURIYA) after acquiring 22.872 million shares, representing a 9.091% stake in the company, through a private placement.
The stake makes him the company’s second largest shareholder.
According to filings with Bursa Malaysia, he subscribed for the entire placement at 40 sen per share, amounting to RM9.15 million. The acquisition was made on Oct 14, 2026.
Vijayasundaram is the chief executive officer of LSP Sdn Bhd, which specialises in lighting projects and interior contracting, with a focus on the hospitality sector, royal institutions and government buildings. He is also a member of the board of trustees of Tabung Amanah Sultan Kedah.
Turiya had proposed the private placement to fund the upgrading and refurbishment of Wisma Chase Perdana, as well as scheduled financing instalments.
His entry comes as corporate veteran Nor Shamir Nor Shahid, 55, was appointed managing director on Oct 15, 2026. In its filing with Bursa Malaysia, the company said his appointment is in a non-director capacity.
Turiya said Nor Shamir may be considered for a future board appointment if the company’s evolving strategic, governance or shareholder requirements warrant it, subject to the applicable nomination and approval processes. He is also a non-independent director of Aurelius Technologies Bhd (KL:ATECH).
Following Nor Shamir’s appointment, substantial shareholder Shweta Nandy, 32, was redesignated as a non-executive director, after serving as executive director for more than two years.
In its filing, Turiya said Shweta would step back from day-to-day executive coordination while continuing to contribute to the board through her knowledge of the group, experience in strategic and corporate development, and familiarity with the company’s ongoing priorities.
Turiya posted a net profit of RM3.95 million on revenue of RM29.24 million for the financial year ended June 30, 2026.
The company’s largest shareholder is Datuk Seri Shamir Kumar Nandy, who holds an indirect 28.89% stake through his children, Shweta and Akash Neil Nandy, via Manor Capital Sdn Bhd. Manor Capital wholly owns Neo Pixel Sdn Bhd, which holds a direct 28.89% stake in Turiya.
As at Sept 11, 2025, UBB Amanah Bhd held a 1.301% stake in Turiya. Shamir, Shweta and Akash also hold stakes in UBB Amanah.
Turiya’s shares were unchanged at 22.5 sen a share, valuing the company at RM56.6 million. Year to date the stock is down 4.26%.