Sentoria Group Bhd (KL:SNTORIA), currently classified as a Practice Note 17 (PN17) company, announced that its co-founder, Datuk Gan Kim Leong, has ceased to be a substantial shareholder following the disposal of his indirect stake in the group’s holding entity, Sentoria Capital Sdn Bhd.
Sentoria Capital, which previously held approximately 35.8% of Sentoria Group, has undergone a restructuring of its shareholding. Gan’s indirect stake, held through Base Rock Sdn Bhd, was transferred to Rock Base Development Sdn Bhd, leaving Sentoria Capital jointly owned by Rock Base Development and Chan Ah Sin.
Rock Base Development is controlled by Gan Yun Han (28) and Goh Chun Seng (42), holding 60% and 40% stakes, respectively.
Gan Kim Leong has been a director of Sentoria since 1999 and was appointed joint managing director in May 2011. He co-founded the group alongside Datuk Chan Kong San, who remains in his role as joint managing director.
Other notable shareholders include the Pahang state secretary, holding 14.29%, and Tan Wei Lian, executive chairman of TWL Holdings Bhd, with a 5.49% stake.
For the financial year ended September 30, 2024 (FY2024), Sentoria reported a net loss of RM89.04 million on revenue of just RM7.55 million. The company has been operating in the red since FY2019, with shareholder equity dropping to 33% of issued and paid-up capital, leading to its PN17 classification in December 2024.
Bursa Malaysia has granted Sentoria a six-month extension until June 3, 2026, to submit a regularisation plan aimed at resolving its PN17 status.
Shares in Sentoria closed unchanged at 1.5 sen on Friday, giving the company a market valuation of approximately RM9.34 million.
While Sentoria’s challenges remain largely corporate and financial, the broader industrial and office property market continues to attract strong demand, particularly in industrial land in Selangor, factories in Puchong, and industrial properties in the Subang area. In parallel, office space in Bukit Jalil and commercial property in KL maintain high occupancy rates due to ongoing economic activity and regional infrastructure development.
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