SCIB said Mohd Abdul Karim also does not appear on the list of the company’s top 30 shareholders.
KUCHING (June 30): Civil engineering specialist Sarawak Consolidated Industries Berhad (SCIB) has informed that Datuk Dr Mohd Abdul Karim Abdullah, which has been referred to by various media as the company’s single largest shareholder with a 21.81 per cent stake, does not appear as a shareholder based on the record of depositors as of June 21, 2023.
It said Mohd Abdul Karim also does not appear on the list of the company’s top 30 shareholders.
“The company has noted a discrepancy between its record of depositors and the register of substantial shareholders that it keeps in relation to Karim’s shareholding,” SCIB said in a statement yesterday.
The last notice received by the company from Mohd Abdul Karim on the change of his shareholdings was dated Nov 1, 2021, said SCIB.
SCIB’s company secretary has written to Mohd Abdul Karim to inform him of the discrepancy and requested confirmation as well as information on the status of his shares but has not received any updates from him.
Under the Companies Act 2016, the shareholder has the duty to inform the company and/or the registrar in the event of any change or cessation of shareholding as a substantial shareholder and/or any dealing in shares.
“SCIB’s obligations are limited to making entries in the register of substantial shareholders upon receiving the required notices from the substantial shareholder and then making the requisite announcement to Bursa Malaysia Securities Berhad pursuant to the Main Market listing requirements.
“Therefore, unless SCIB receives a notice from Karim, there is no requirement for the company to make any entry in its register of substantial shareholders.
“Under the Companies Act, SCIB shall not be deemed to have notice of, or be required to inquire as to the right of Karim in relation to his shares in the Company.
“There is no requirement for SCIB to make any disclosures on behalf of the person arising from the information in the record of depositors and/ or rectify the discrepancy,” added SCIB.