KUALA LUMPUR (Nov 10): HIS TIZA Pahang Sdn Bhd, a company linked to the crown prince of Pahang, has emerged as the second-largest shareholder of oil palm planter and timber firm Mentiga Corp Bhd (KL:MENTIGA).
Its emergence comes after it completed the acquisition of a 30.47% stake in Mentiga from the company’s largest shareholder, state government-owned Amanah Saham Pahang Bhd, for RM21 million on Nov 5, according to a bourse filing on Tuesday.
Amanah Saham Pahang’s stake in Mentiga fell to 43.91% following the transaction, but remains Mentiga’s largest shareholder.
HIS TIZA is a 50:50 joint venture between HIS Holdings Sdn Bhd, owned by Pahang Crown Prince Tengku Hassanal Ibrahim Alam Shah, and TIZA Global Sdn Bhd, the investment vehicle of Citaglobal Bhd (KL:CITAGLB) executive chairman Tan Sri Mohamad Norza Zakaria,
HIS TIZA announced the deal to purchase the stake from Amanah Saham Pahang on Oct 13 this year. The deal valued Mentiga shares at RM1 apiece, a 72.41% premium to the company’s market price at the time.
Following the announcement, the planter’s shares surged. It hit a peak of RM1.01 on Oct 20.
In its October announcement, HIS TIZA said that it has agreed with Amanah Saham Pahang to hold on to the Mentiga shares for five years.
It also noted it intends to explore consolidating the Pahang government's plantation assets under Mentiga, subject to regulatory and corporate approvals.
Mentiga posted a net profit of RM860,000 for the financial year ending Dec 31, 2025 (FY2025). It was loss-making from FY2021 to FY2024.
For the first half ended June 30, 2026 (6MFY2026), it logged a net profit of RM1.32 million on revenue of RM18.71 million.
Shares of Mentiga ended unchanged at RM1.01, valuing the company at RM70.7 million.