Sultan of Johor now 7-Eleven Malaysia’s second largest individual shareholder

KUALA LUMPUR: Sultan Ibrahim Sultan Iskandar of Johor is now 7-Eleven Malaysia Holdings Bhd’s second largest individual shareholder with a 8.44% stake after acquiring 93.70 million shares in 7-Eleven Malaysia since July 2017.

7-Eleven Malaysia chairman Tan Sri Abdull Hamid said on behalf of the board of 7-Eleven Malaysia, it welcome Tuanku as one of its substantial shareholders especially at a time when it is expanding its retail footprint to increase its market share and sustain its profitability.

“This truly reflects Tuanku’s confidence in the performance and future potential of 7-Eleven Malaysia. We believe that with a shareholder of Tuanku’s stature, 7-Eleven’s position in the retail industry will be further strengthened,” he said in a statement.

Meanwhile, 7-Eleven Malaysia’s largest shareholder Tan Sri Vincent Tan said this augurs well for the company given that Tuanku is known to be an astute investor with a keen eye for companies and businesses with strong fundamentals and good growth potential.

7-Eleven posted a revenue of RM2.10 billion with a pre-tax profit of RM70.82 million in the financial year ended Dec 31, 2016.