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Author: savemalaysia   |   Latest post: Thu, 12 Dec 2019, 2:24 PM


Syed Mokhtar’s DRB-Hicom buys up Umno’s stake in Media Prima

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KUALA LUMPUR, July 3 — Tan Sri Syed Mokhtar Shah Syed Nor Albukhary’s DRB-Hicom Bhd has acquired Umno’s 11 per cent holding in Media Prima Bhd, according to unnamed sources.

The acquisition will expand the tycoon’s media presence by adding to his equity in Utusan Melayu Bhd and The Malaysian Reserve.

According to The Edge Markets, DRB-Hicom bought out Umno by picking up its 123 million shares, which had been held in proxy by Gabungan Kesturi Sdn Bhd, for an estimated RM73.81 million.



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