Sultan of Johor raises 7-Eleven stake

PETALING JAYA: The Sultan of Johor, Sultan Ibrahim Ibni Almarhum Sultan Iskandar, has raised his stake in 7-Eleven Malaysia Holdings Bhd, acquiring an additional 63.08 million shares in the convenience store operator.

The shares were valued at almost RM100mil based on the stock’s closing price yesterday.

Sultan Ibrahim first emerged as a substantial shareholder in 7-Eleven in August.

The latest purchase of shares raised his stake in the company to 15.5%, a filing with Bursa Malaysia showed.

With a stake of 172.37 million shares, Sultan Ibrahim is the second largest shareholder in the convenience store operator.

The company is controlled by tycoon Tan Sri Vincent Tan Chee Yioun, who has about 42% equity interest. 7-Eleven’s shares rose by one sen to close at RM1.56 yesterday.

Two months ago in October, the Sultan of Johor had also increased his stake in Berjaya Assets Bhd after acquiring an additional 80 million Berjaya Assets shares to increase his stake to 120 million shares.

He is also now the second biggest individual shareholder in Berjaya Assets with a 10.09% stake. Berjaya Assets is the major owner of Berjaya Times Square, one of Malaysia’s largest retail and commercial malls which houses Berjaya Times Square Theme Park, the largest indoor theme park in Malaysia.