Insas now largest shareholder in Microlink after RM76 mil rights subscription
By John Lai
Insas Bhd (KL:INSAS) has emerged as the largest shareholder in Microlink Solutions Bhd (KL:MICROLN) following its subscription of a 29.81% stake in the digital banking solutions provider.
Insas subscribed to 479.46 million rights shares at 16 sen per share, which values the block at RM76.72 million.
Notably, Insas took up 89% of the total 536.19 million rights shares offered by Microlink.
Following the subscription, Insas now holds a 32.89% equity interest in Microlink. Its cash balance is projected to decline to RM110.19 million, down from RM186.9 million.
Post-rights exercise, Omesti Bhd (KL:OMESTI), in which Insas holds a 9.96% stake, is the second-largest shareholder of Microlink with an estimated 19.5% interest. Other notable shareholders include Kenanga Islamic Absolute Return Fund (14.73%) and Sultan of Pahang, Al-Sultan Abdullah Sultan Ahmad Shah (6.6%).
For the twelve months ended March 31, 2025, Microlink recorded a net loss of RM92.17 million, compared to a loss of RM26.84 million in the previous year. Despite the wider loss, revenue rose 28.4% to RM361.15 million from RM281.29 million.
Source: theedgemalaysia.com
https://theedgemalaysia.com/node/764295
