The Employees' Provident Fund (EPF) has been shedding its stake in Media Prima Bhd over the past three weeks.
According to Bursa Malaysia's website, Media Prima has posted ten notices on changes in substantial shareholdings, all attributed to EPF.
At the time of writing, EPF's stake has been reduced to 5.21 percent down from almost 12 percent earlier this month.
Media Prima's share price opened at RM0.16 today.
According to its latest quarterly financial results, the company made a loss of RM106,327,000 during Q4 2019.
In 2006, EPF emerged as the largest shareholder in Media Prima, holding nearly a quarter of the company's equity.
According to the company's 2018 annual report, EPF's stake was 11.94 percent.
Last year, Media Prima came under the control of businesses with links to the very reclusive billionaire Syed Mokhtar Al-Bukhary.
Media Prima has a huge stable of newspapers, broadcasters, websites and outdoor advertising services.
However, the company has been making losses in recent years and have been downsizing extensively. - Mkini
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