Markets
Mokhzani sells 533m Sapura Energy shares
Johnny Loh 
Mokhzani sold his shares through his investment vehicle Khasera Baru Ltd
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TAN Sri Mokhzani Mahathir has disposed 532.68 million shares or an 8.89% stake in Sapura Energy Bhd. The shares were disposed at between RM1.42 and RM1.53, according to off-market trade filings on Nov 2.

The block of shares was done at RM759.94 mil. The shares were sold through Khasera Baru Ltd, an investment vehicle of Mokhzani. It is not known if Khasera owns any more Sapura Energy shares after the sale. As at April 28, it reportedly held 605 million shares or a 10.1% stake. 

A report on Nov 2 says Khasera Baru has sold its entire 605 million shares in Sapura Energy at a discount for RM859.1 mil through a private placement. The counter closed at RM1.49 sen on Nov 2.

For its Q2 ended July 31, the oil & gas services and solutions provider saw its net profit dip 73.68% to RM29.38 mil from RM111.64 mil in the preceding year’s corresponding quarter. The drop in profit was attributed to a lower revenue from its drilling business segment as well as financial impact arising from the cessation of the Berantai risk service contract.

Rev Asia Bhd’s largest shareholder, Catcha Group Pte Ltd, divested 10.8 million shares or an 8.02% stake in the former, filings with Bursa Malaysia on Nov 1 and 2 reveal.

Catcha Group’s stake in Rev Asia was subsequently reduced to 44.17% from 52.19%.

Rev Asia is mainly engaged in internet advertising, magazine publication business and e-commerce. For its Q2 ended June 30, the company’s net loss widened to RM3.98 mil from RM1.67 mil a year earlier.

The higher net loss was mainly attributed to its online classifieds business as the investment in iCar Asia Ltd’s shares was marked-to-market, resulting in a downward fair value adjustment of RM1.58 mil. The counter closed at 56.5 sen on Nov 2.

Inta Bina Group Bhd director Yap Yoon Kong disposed of 8.86 million shares or a 1.65% stake in the company, filings with Bursa on Oct 30 and Nov 2 show. Yap’s stake in the company was slashed to 2.37% from 4.03%.

The counter, which is involved in the development and sale of residential and commercial properties, closed at 39 sen on Nov 2.

A filing with Bursa on Nov 1 showed that Omesti Bhd’s largest shareholder, Datuk Mah Siew Kwok, has divested 6.06 million shares or a 1.41% stake in the company. Mah, who is also the company’s vice-chairman, trimmed his stake in the company to 19.06% from 20.47%.

Founded on Nov 1, 2000, Omesti distributes and maintains computer equipment and software as well as develops application software and systems integration. The counter closed at 46.5 sen on Nov 2.



This article first appeared in Focus Malaysia Issue 257.