Seni Jaya Corporation Bhd has seen the emergence of two new substantial shareholders following the completion of its acquisition of outdoor advertising company Vision OOH Sdn Bhd.
Lawrence John Cannard was issued 43.55 million new shares in Seni Jaya, representing a 16.03% stake, while Chong Yan Moy received 14.52 million shares, or a 5.35% stake.
The Vision OOH acquisition, first announced in February last year, was fully settled through the issuance of new shares at 31.6 sen each, valuing the deal at RM18.35 million.
In a separate development, Seni Jaya said it has mutually agreed with vendors to extend the deadline for fulfilling conditions precedent for its proposed acquisition of Unilink Outdoor Sdn Bhd to June 19.
The Unilink deal is valued at RM39.5 million, to be satisfied through RM11.85 million in cash and the remainder via share issuance at 31.6 sen per share.
Unilink is owned by Seni Jaya’s major shareholder and executive director Ong Kah Hoe. Based on the company’s circular, Ong’s stake is expected to increase to 23.61% from 6.23% upon completion of the acquisitions and a private placement exercise.
Following the corporate exercises, Cannard’s stake is expected to be diluted to 10.29%, while Chong’s holding is projected to fall to 3.43%.
Meanwhile, Seni Jaya’s largest shareholder, Datin Lee Nai Yee, is expected to see her stake reduced to 6.05% from 11.98% after completion of the exercises.
The company’s financial performance has continued to improve.
For the six months ended Dec 31, 2025, Seni Jaya posted revenue of RM44.9 million, up 22% year-on-year from RM36.8 million, while profit before tax rose 18% to RM10.6 million.
The stronger performance was driven by higher billboard occupancy rates, disciplined cost control and improved execution across its asset base.
The group said it remains focused on strengthening its market position through portfolio expansion and integration. The planned acquisitions of Unilink Group, Vision OOH and Ganad Media are expected to expand its nationwide footprint, enhance its premium inventory and create operational synergies for long-term growth.
Seni Jaya shares closed down 0.5 sen, or 0.9%, at 54.5 sen on Thursday, valuing the group at RM116.38 million. The stock has gained 75.8% over the past year.
