Syed Mokhtar Shah still a substantial shareholder, Media Prima clarifies

MEDIA Prima Bhd has clarified that Tan Sri Syed Mokhtar Shah Syed Nor remains a substantial shareholder of the company, despite confusion arising from recent announcements to Bursa Malaysia.

This clarification follows media reports that misunderstood the implications of three announcements made by the company on Oct 7, 2024.

The announcements were related to the cessation of indirect substantial shareholdings of Sutera Bakti Sdn Bhd (SBSB), Tradewinds Group (M) Sdn Bhd and Restu Jernih Sdn Bhd.

These entities had previously been deemed substantial shareholders through their indirect interests in Media Prima via Aurora Mulia Sdn Bhd, under Section 8 of the Companies Act 2016.

However, Media Prima clarified that Aurora Mulia, which holds a direct 31.9% stake in the company, remains a significant shareholder.

Syed Mokhtar Shah retains his indirect stake in Media Prima through Aurora Mulia, reaffirming his continued influence in the media group.

“The cessation of deemed interest should not be interpreted as Aurora Mulia or Syed Mokhtar Shah ceasing to be substantial shareholders. Aurora Mulia still directly holds 353,815,941 shares, and Syed okhtar Shah continues to hold an indirect interest by virtue of his shareholding in Aurora Mulia,” the company added.

Media Prima emphasised that this clarification is intended to ensure transparency and dispel any misinterpretation of its shareholding structure following the company’s initial announcements to Bursa Malaysia. –TMR