Tycoon Shamsuddin Abdul Kadir transfers all Sapura Industrial shares to his wife

KUALA LUMPUR (July 26): Tycoon Tan Sri Shamsuddin Abdul Kadir has transferred all of his shares in Sapura Industrial Bhd to his wife Puan Sri Mariam Parineh, its Bursa Malaysia filing showed on Tuesday (July 26).

Shamsuddin, 91, transferred his entire 28% stake or 20.38 million shares in the group — which he holds through investment vehicle SAK Asset Ventures Sdn Bhd — to his wife on July 20.

Notably, Shamsuddin is the father of former Sapura Energy Bhd chief executive officer Tan Sri Shahril Shamsuddin.

Based on data from Bloomberg, Shahril holds a 1.96% stake in Sapura Industrial.

Shares in Sapura Industrial closed unchanged at 75.5 sen, giving it a market capitalisation of RM54.95 million.