Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Mokhzani Reduces SapuraKencana Stake After Malaysian Merger

Mokhzani Mahathir, a son of former Malaysian Prime Minister Mahathir Mohamad, sold part of his stake in SapuraKencana Petroleum Bhd., the country’s biggest oil and gas services company, keeping his share above 10 percent.

Some 190.3 million shares in SapuraKencana were traded off market yesterday at 4.30 ringgit each, amounting to 818.3 million ringgit ($247.8 million), according to data from the Kuala Lumpur stock exchange. Mokhzani and family of the late Chong Hin Loon were sellers of the block, the Star newspaper reported today, citing people it didn’t identify.

“Placed out some shares,” Mokhzani said by phone today, confirming the per-share transaction price of 4.30 ringgit. “Still maintain above 10 percent. Will keep the rest of the shares and monitor and help SapuraKencana to grow.”

Kuala Lumpur-based SapuraKencana was formed through the 11.9 billion ringgit merger of SapuraCrest Petroleum Bhd. and Mokhzani’s Kencana Petroleum Bhd. It was added to Malaysia’s benchmark stock index in June and has climbed 52 percent in the past year. Mokhzani gave up management role in the group this year, becoming a non-executive director.

SapuraKencana fell 1.1 percent to 4.35 ringgit in Kuala Lumpur as of 11:25 a.m., compared with a 0.1 percent decline in the benchmark FTSE Bursa Malaysia KLCI Index.

Mokhzani, who had about a 15 percent stake in the company, sold 90 million shares yesterday and has another 714 million shares, according to the Star report.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.