99 Speed Mart Retail Holdings Bhd has issued a clarification regarding the Employees Provident Fund’s (EPF) equity position in the company, following an earlier disclosure that overstated the pension fund’s shareholding.
In an amended filing to Bursa Malaysia, 99 Speed Mart confirmed that EPF acquired six million shares on 4 June 2025, equating to a 0.07% stake. This purchase brings EPF’s total interest in the company to 5.02%, surpassing the 5% threshold required to be classified as a substantial shareholder under Malaysian financial regulations.
This clarification corrects an earlier filing that erroneously reported EPF’s acquisition as 421.79 million shares — a figure that would have represented a 5.02% stake in a single transaction.
Financially, 99 Speed Mart reported strong performance for the first quarter ended 31 March 2025. The group’s net profit rose to RM143.18 million, up from RM133.15 million in the same quarter last year. Revenue increased to RM2.6 billion compared to RM2.4 billion a year earlier.
The uptick in revenue contributed to an 11.3% growth in gross profit, reaching RM314.5 million, with a marginal improvement in gross profit margin, underscoring continued operational efficiency in the group’s retail segment.
-The Star
