Sentoria Group co-founder Gan Kim Leong sells out of PN17 firm

KUALA LUMPUR (Feb 2): Sentoria Group Bhd (KL:SNTORIA), a Practice Note 17 (PN17) company, said its co-founder Datuk Gan Kim Leong has ceased to be a substantial shareholder after disposing of his indirect stake in the group’s holding company, Sentoria Capital Sdn Bhd.

Sentoria Capital controlled a nearly 35.8% stake in Sentoria Group.

According to a bourse filing on Friday, Gan disposed of his entire indirect shareholding in Sentoria Capital via a share transfer from his vehicle, Base Rock Sdn Bhd, to Rock Base Development Sdn Bhd.

Company filings show that Sentoria Capital is now jointly owned by Rock Base Development and Chan Ah Sin.

Rock Base Development is controlled by Gan Yun Han, 28, and Goh Chun Seng, 42, with stakes of 60% and 40% respectively.

Kim Leong has been a director of Sentoria since 1999 and was appointed joint managing director in May 2011. He co-founded the group with Datuk Chan Kong San, who remains joint managing director.

The Pahang state secretary is the second-largest shareholder in Sentoria with a 14.29% stake, while Tan Wei Lian, executive chairman of TWL Holdings Bhd (formerly Tiger Synergy Bhd) (KL:TWL), holds 5.49%.

Sentoria reported a net loss of RM89.04 million on revenue of just RM7.55 million for the financial year ended Sept 30, 2024 (FY2024).

The group has been in the red since FY2019 and fell into PN17 status in December 2024 after its shareholder equity dropped to 33% of issued and paid-up capital.

Earlier this month, Bursa Malaysia granted Sentoria a six-month extension—until June 3, 2026—to submit its regularisation plan to resolve its PN17 status.

Shares in Sentoria closed unchanged at 1.5 sen on Friday, valuing the group at RM9.34 million.

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