MyEG exec chairman Norraesah gains 29.7% indirect stake

Datuk Azman Mahmud, deputy chief executive officer 1, Malaysian Investment Development Authority (MIDA). FOR BYTZ USE ONLY.

KUALA LUMPUR: My EG Services Bhd (MyEG) executive chairman Datuk Dr Norraesah Mohamad (pic) has emerged as a substantial shareholder in the electronic government services provider with a 30.41% stake.

Based on filings with Bursa Malaysia, Norraesah, who already had a 0.73% direct stake in MyEG, increased her total stake (direct and indirect) to 30.41% after acquiring executive director Datuk Raja Munir Shah Raja Mustapha’s stake in Asia Internet Holdings Sdn Bhd.

Asia Internet is the single biggest shareholder in MyEG. Its 1.07 billion shares, representing 29.67% of MyEG’s issued share capital, are worth RM2.17bil based on the shares’ last traded price.

While Raja Munir Shah has ceased to be a substantial shareholder, he continues to hold a 0.71% stake in MyEG.

Norraesah, 68, is a former senator and was also chairman of Bank Kerjasama Rakyat Malaysia.

MyEG closed at RM2.03, down 1 sen, on Friday with 10.1 million shares changing hands.