KUALA LUMPUR, Oversea-Chinese Banking Corp Ltd (OCBC), Singapore’s second-largest bank, together with its affiliate Lion OCBC Capital Asia I Holdings Pte Ltd, has exited its investment in Mega Fortris Bhd, selling its entire indirect stake to a new strategic investor.
According to Mega Fortris, OCBC and Lion OCBC Capital collectively disposed of their 25.99% stake in Mega Fortris Global Pte Ltd — the holding company of the Main Market-listed security seal manufacturer — to ProWealth Management Holding Ltd. The sale and purchase agreement, inked on Oct 2, was completed on Oct 30.
ProWealth Management, an investment holding firm incorporated in the British Virgin Islands, is now a strategic shareholder in Mega Fortris.
“ProWealth Management’s entry underscores confidence in our long-term strategy and marks a new chapter in our growth journey,” said Mega Fortris managing director Datuk Adrian Ng Meng Poh in a statement.
The group did not disclose the transaction value, nor did it comment on OCBC’s divestment.
Ng and his family remain the controlling shareholders with a 65% interest in Mega Fortris through Mega Fortris Global.
ProWealth Management director Gan Kok Xan said the company sees “a strong, trusted organisation with proven execution and expanding potential in global supply chain security solutions.”
Mega Fortris added that its first-phase UK facility — a centralised warehouse and distribution centre with marking capabilities — is on track for completion by year-end to meet regional demand and serve key international customers.
Shares of Mega Fortris fell 1.5 sen or 1.85% to 79.5 sen on Friday, valuing the group at RM671.8 million.
