KUCHING: Ocean Vantage Holdings Bhd ‘s (OVH) Chief Executive Officer (CEO), Willie Ho Huat Voon, has sold his entire shareholdings in the company held indirectly via Majuco Motor Sdn Bhd.
As at March 28, 2025, Majuco Motor is OVH’s single largest shareholder with more than 41.99 million shares (10 per cent). The second largest shareholder is Pertanian Teguh Jaya Sdn Bhd (32.54 million shares of 7.749 per cent).
Ho, 36, was no longer a shareholder in Majuco Motor, effective June 15, 2025, OVH said in a filing last Friday.
With the cessation, Ho now has zero share in OVH, a service provider and investor in the energy and utility sector.
Ho was appointed OVH CEO on September 20, 2024.
OVH’s Managing Director, Kenny Ronald Ngalin, 49, has further reduced his equity interest in the company, with the disposals of 1,671,600 shares between April 15 to May 15, 2025. As of May 28, 2025, he held 12.3 million shares (2.932 per cent).
Ngalin ceased to be a substantial shareholder of the company after he sold 885,600 shares on May 29, 2024.
In first quarter ended March 31, 2025, OVH returned to the black with group net profit of RM3.13 million (1Q2024: -RM888,000) despite lower group revenue of RM29.68 million (RM34.22 million). Earnings per share stood at 0.75 sen.
The group’s business segments include engineering, procurement and construction (EPC) & project management, supply of manpower, supply of materials, tools and equipment as well as drilling rig charter.
A major project OVH had undertaken was the Bintulu Additional Gas Sales Facility 2 (BAGSF2).
OVH has recently issued more than 209.9 million free warrants on the basis of one bonus warrant for every two existing shares. The warrants were listed and quoted on ACE Market on August 13, 2025.
