Puncak Niaga Holdings Bhd founder and executive chairman Tan Sri Rozali Ismail’s 41.3% stake in the company is valued at about RM484.2mil, based on the net proceeds of RM1.56bil it is set to receive from the Selangor water restructuring exercise.
Estimated Puncak Niaga was set to receive net proceeds of RM1.56bil, which translates to RM3.78 per share.
It is unclear what is Rozali’s plan to move the company forward with the pile of cash it would receive.
Other substantial shareholders of Puncak Niaga are Lembaga Tabung Haji with 5.49%, Oversea and Chinese Banking Corp Ltd (5.05%) and Amanah Saham 2020 (5.04%).
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