EPF offloads SunCon shares
SunCon said this follows the disposal of 20 million shares on July 14 that were managed by Citigroup Nominees (Tempatan) Sdn Bhd – Employees Provident Fund Board-IC.
Following the disposal, the EPF's stake in SunCon has dipped to 4.27%, which is below the 5% threshold required to be deemed a substantial shareholder.
For its first quarter ended March 31, 2025, SunCon's net profit more than doubled to RM75.72mil from RM32.40mil in the previous corresponding period, while revenue also more than doubled from RM604.8mil to RM1.4bil.
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