PBA Holdings Berhad (PBAHB) has stressed that the recent drug case involving one of its shareholders does not affect its operations and the company’s standing.
PBA Holdings chief executive officer Datuk Jaseni Maidinsa said the shareowner was not a substantial shareholder.
“As of Dec 31 last year, the individual held 1.85% of the total shareholdings of PBAHB, with a total of 6,127,600 ordinary shares.
“The largest shareholder of PBAHB is the State Secretary of Penang which holds 55% of the total shareholdings and a golden share.
“The second largest shareholder is the Penang Development Corporation (10% of the total shareholdings), while the third largest shareholder is the Yayasan Bumiputra Pulau Pinang Berhad (4.1%). Credit Suisse is the fourth largest shareholder, holding 1.96% of the total shareholdings.
The said shareowner was listed as the fifth shareholder in the list.
Jaseni said that the shareholder was not a director of PBAHB or any of its subsidiaries, which include the Penang Water Supply Corporation (PBAPP).
“He is not represented in the Boards of PBAHB and PBAPP. He is also not associated with the management of PBAHB or PBAPP,” Jaseni added.
Chief Minister Chow Kon Yeow, who is also the PBAHB and PBAPP chairman, said the company would leave the matter to the court.
“There is no need for the company to hold a meeting on the matter as it has nothing to do with PBAHB,” he answered a reporter after attending the Chinese New Year open house by Persatuan Teong Guan Pulau Pinang in Jalan Bagan Serai today.
Chow said that anyone could be a shareholder of the company.
“Transactions (buying and selling of ordinary shares) happen every minute. The ‘person’ who sought an explanation on the matter should know about this.
“What if the individual had invested in many other companies? Should the companies (which the individual had invested in) also explain then?” Chow questioned.
However, he did not mention who the ‘person’ is.
Story by Christopher Tan
Pix by Foong Chee Yin