Singapore-based PK Green Fund has become a substantial shareholder of Jentayu Sustainables Bhd (JSB) after acquiring a 9.018% equity stake in the renewable energy company.
In a filing with Bursa Malaysia, JSB said it received a notice dated July 1 informing the company that PK Green Fund had become a substantial shareholder in accordance with the Companies Act 2016 and Bursa Malaysia’s Main Market Listing Requirements.
The fund acquired 49.1 million ordinary shares in JSB on June 30, representing approximately 9.02% of the company’s issued share capital. Prior to the acquisition, PK Green Fund did not own any shares in the company.
JSB welcomed the investment, describing it as a strong vote of confidence in the group’s strategic direction and its ongoing transformation into a renewable energy-focused business.
The company said the fund’s investment reflects support for the continued development of its renewable energy project pipeline, including its flagship Project Oriole.
According to JSB, PK Green Fund has also expressed its intention to engage constructively with the company’s board and management on strategic, corporate governance and sustainability-related matters.
The fund further indicated that it may, at a later stage, seek representation on the board, subject to the company’s nomination process, corporate governance framework and all applicable regulatory requirements.
PK Green Fund is a Singapore-domiciled investment fund that focuses on environmental and social impact investments across emerging markets, with a particular emphasis on renewable energy.
A separate Bursa Malaysia filing showed that the 49.1 million shares were acquired through an off-market transaction from Datin Nurhaida Abu Sahid, the spouse of group managing director Datuk Beroz Nikmal Mirdin, at a price of 20 sen per share.
Following the transaction, Beroz’s deemed indirect shareholding in JSB fell to 22 million shares, or 4.041%, while his direct interest remained unchanged at 20.89 million shares, representing 3.837% of the company’s issued share capital.
