Roushan no longer Hibiscus substantial shareholder

PETALING JAYA: Tycoon Datuk Roushan Arumugam has ceased to be a substantial shareholder in Hibiscus Petroleum Bhd due to dilution of interests.

According to filings with Bursa Malaysia, Roushan’s interest in the oil and gas exploration and production company, which he held through Singapore-based investment company Littleton Holdings Pte Ltd, was diluted following recent allotments of new shares by Hibiscus. Roushan is an independent non-executive director in Hibiscus. Bloomberg data showed Littleton had previously held a 4.93% stake in Hibiscus.