Mokhzani Reduces SapuraKencana Stake After Malaysian Merger

March 28, 2014

Hey, hey.

Dateline 2014-02-18, Bloomberg:

Mokhzani Mahathir, a son of former Malaysian Prime Minister Mahathir Mohamad, sold part of his stake in SapuraKencana Petroleum Bhd. (SAKP), the country’s biggest oil and gas services company, keeping his share above 10 percent.

Some 190.3 million shares in SapuraKencana were traded off market yesterday at 4.30 ringgit each, amounting to 818.3 million ringgit ($247.8 million), according to data from the Kuala Lumpur stock exchange. Mokhzani and family of the late Chong Hin Loon were sellers of the block, the Star newspaper reported today, citing people it didn’t identify.

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Mokhzani to take over PetOne?

November 16, 2013

Dateline 2013-09-26:

Tycoon Datuk Mokhzani Mahathir may take over Petrol One Resources Bhd (PetOne), bankers familiar with the matter said on Monday.

PetOne, Malaysia’s first publicly-traded oil and gas storage provider, has seen its shares suspended from trading since May 22. Bursa Malaysia suspended the stock after the company technically defaulted on some loans.

Business Times understands that Mokhzani’s right-hand man, Yeow Kheng Chew, is leading the talks to take over PetOne.

Mokhzani, which according to Forbes magazine is Malaysia’s 15th richest man with a US$980 million (RM3.2 billion) fortune, is said to be interested in PetOne for its listing status.

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Posted by Wata