Yong Kwee Lian loses substantial shareholder status in Tiong Nam
Two entities linked to founder Ong Yoong Nyock became substantial shareholders, while his total holding fell to 52.06%.
Tiong Nam Logistics Holdings Bhd executive director Yong Kwee Lian has ceased to be a substantial shareholder following changes to her deemed interests, according to bourse filings on Oct 9. She retains a direct holding of 1.29%.
The filings showed that OFG Capital (L) Foundation and OFG Sdn Bhd became substantial shareholders with an indirect stake of 27.04%. The entities, linked to founder and managing director Ong Yoong Nyock, took full ownership of TNTT Realty Sdn Bhd and Renitrans Sdn Bhd on Aug 14.
Ong's direct stake was unchanged at 25.02%, but his indirect holding declined to 27.04% from 28.38%. His deemed interests through shares belonging to his wife Yong and their son, deputy managing director Ong Wei Kuan, ended on Oct 7. His overall holding consequently fell to 52.06% from 53.4%.
Yong's deemed interests through TNTT Realty, Renitrans, her husband and her son were removed. The filings provided no further explanation for the changes.
Separately, Teo Kwee Hock's holding reached 5.58% by Oct 9 after further share purchases. He had become a substantial shareholder on July 17 with 5.01%.
For the quarter to June 30, 2026, Tiong Nam reported net profit of RM13.41 million, against RM3.98 million a year earlier. Revenue increased 13.8% to RM268.73 million.
The shares ended Oct 9 at 78 sen, unchanged, giving the group a market value of RM411.7 million. The stock was down 8.24% from a year earlier.
