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Transocean among Bursa's most active stock as Selangor Ruler emerge as a significant shareholder

Publish date: Fri, 05 May 2023, 11:17 AM


The shares of Transocean Holdings Bhd have increased by a sizable 20 per cent year to date.

Sultan Idris Shah of Selangor emerged as a significant shareholder in the logistics and IT company with a deemed stake of 30.73 per cent last week.

Transocean shares opened this morning 18 sen higher at RM2.30, giving the company a market value of about RM150 million.

The Selangor ruler is a shareholder of Digital Planners Sdn Bhd, which holds at least 20 per cent of the voting shares of Enfrasys Consulting Sdn Bhd, according to a Bursa Malaysia filing from April 28.

In turn, Enfrasys owns 20 million shares or 30.73 per cent of Transocean.

"Transocean has managed to witness a significant expansion in its earnings while maintaining a high rate of reinvestment, albeit at a poor ROE. With a new large stakeholder, it will be intriguing to see where the company goes," according to a market watcher.

It is worth noting that on March 2, Tan Sri Mohd Nadzmi Mohd Salleh, one of Transocean's largest shareholders, sold all of his stock in Trisilco Equity Sdn Bhd, the parent company of both Kumpulan Kenderaan Malaysia Berhad (KKMB) and Lengkap Suci Sdn Bhd (LSSB).

KKMB and LSSB hold 3.116 million shares and 11.6 million shares respectively in Transocean.

Mohd Nadzmi, former chairman of Proton Holdings Berhad and also a former chief executive officer of Edaran Otomobil Nasional Berhad is no longer a significant shareholder in Transocean as a result.

Ibrahim Aiman Mohd Nadzmi, his son, is Transocean's managing director.

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