KUCHING: Borneo Oil Bhd’s major shareholders have heavily dumped the company shares despite the absence of any new corporate development.
Borneo’s managing director Datuk Joseph Lee Yok Min @ Ambrose sold 487,290,200 shares (3.468%) at RM0.005 for RM2,436,400 in the open market on July 3, reducing his direct shareholdings to 829,147,100 units (5.902%). He has indirect holdings of 1,307,015,310 shares (9.303%), according to Borneo’s filing with Bursa Malaysia.
A day earlier, Ambrose acquired 1.5 million shares at RM0.01 each for RM15,000.
His son, Riorne Lee Kah Vui, who was appointed Borneo’s executive director last December, disposed of an additional 62 million shares (0.441%), also at RM0.005 for RM310,000. Riorne sold 169 million shares for RM845,000 via off market deal a day earlier.
Another major shareholder Victoria Capital Sdn Bhd sold 50 million shares, cutting its shareholdings to 1,042,471,400 (7.42%).
On Wednesday, some 1.331 billion Borneo shares changed hands in trading.
Borneo, which owns home-grown fast food restaurant chain, SugarBun, last corporate move was the bonus issue of about 3.52 billion free warrants on the basis of one Warrant E for every four existing ordinary shares earlier this year. The exercise price of Warrant E is RM0.01 each.
Meanwhile, Perdana Petroleum Bhd (PPB) said its wholly-owned subsidiary, Perdana Nautika Sdn Bhd (PNSB) had accepted a work order from PTTEP Sabah Oil Limited for the charter of one unit of anchor handling tug & supply (AHTS) vessel.
The contract is for three years, with option to extend for another three years.
“The estimated contract value cannot be determined at this time as it will vary based on the location to which the vessel is assigned throughout the contract period.
“PNSB shall provide a unit of AHTS vessel with crew and equipment to perform a continuous 24 hours service for the purpose of assisting and/or servicing drilling rigs, offshore installations, derrick barges, towing and anchor job.
“The contract is expected to contribute positively to the earnings and net assets of PPB group for the financial year ending 31 December 2025 to 2028,” PPB told the local bourse.
On July 1, 2025, it was announced that PNSB accepted a work order award, also for the provision of one AHTS vessel, to an unnamed petroleum arrangement contractor (PAC).The contract is for 120 days, with an option to extend for another 100 days.
