Urusharta Jamaah Sdn Bhd ceases to be substantial shareholder of MCT, WCT Holdings and Eastern & Oriental

KUALA LUMPUR (April 1): Urusharta Jamaah Sdn Bhd (UJSB) is no longer a substantial shareholder of MCT Bhd, WCT Holdings Bhd and Eastern & Oriental Bhd (E&O), after paring its stake in the companies.

Exchange filings show the unit of the Ministry of Finance recently sold 7.05 million shares amounting to 0.48% in MCT, 3.27 million shares or 0.23% in WCT Holdings and 13 million shares or 0.96% in E&O.

UJSB first emerged as substantial shareholder of the companies on Dec 28, 2018, when it took over the stake from Lembaga Tabung Haji.

At its peak holdings, UJSB owned 133.48 million shares or a 9.16% of MCT, an 8.62% equity stake or 121.02 million shares in WCT Holdings, and 94.24 million shares or a 6.58% stake in E&O.

According to filings to the exchange, UJSB has been paring its stakes in the companies since mid-March.

Shares in MCT closed up 1.5 sen or 11.1% at 15 sen, valuing the company at RM219 million, while WCT Holdings’ shares closed up 1 sen or 2.7% at 38.5 sen, for a market capitalisation of RM546 million.

E&O ended 0.5 sen or 1.4% higher at 37.5 sen, giving it a market capitalisation of RM546 million.

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