Maju Offshore emerges as a substantial shareholder of Bina Puri

• Following the stake acquisition, Maju Offshore is Bina Puri’s fourth-largest shareholder after Bina Puri executive director Chai Chan Tong with a 23.78% stake, its group executive director Datuk Matthew Tee Kai Woon (10.11% direct stake, 8.15% indirect stake) and group managing director Tan Sri Tee Hock Seng (8.11% direct stake, 10.15% indirect stake), Bursa Malaysia filings showed.

KUALA LUMPUR (May 5): Maju Offshore Sdn Bhd has emerged as a substantial shareholder of Bina Puri Holdings Bhd with a deemed interest of 5.03% in the construction company.

This came after Maju Offshore acquired 169.64 million shares in Bina Puri on April 18, according to a filing on Friday (May 5).

Following the stake acquisition, Maju Offshore is Bina Puri’s fourth-largest shareholder after Bina Puri executive director Chai Chan Tong with a 23.78% stake, its group executive director Datuk Matthew Tee Kai Woon (10.11% direct stake, 8.15% indirect stake) and group managing director Tan Sri Tee Hock Seng (8.11% direct stake, 10.15% indirect stake), Bursa Malaysia filings showed.

For the second quarter ended Dec 31, 2022, Bina Puri’s net loss widened to RM22.11 million from a net loss of RM14.19 million in the previous corresponding period, as revenue declined to RM28.43 million from RM43.08 million.

At the closing bell, Bina Puri’s share price was half a sen or 14.29% higher at four sen, giving the group a market capitalisation of RM117.94 million.