EPF Becomes Substantial Shareholder in 99 Speed Mart

PETALING JAYA, June 10, 2025 – The Employees Provident Fund (EPF) has become a substantial shareholder in 99 Speed Mart Retail Holdings Bhd after acquiring a 0.07% stake, or six million shares, on June 4. An amended Bursa Malaysia filing clarified this purchase, correcting an earlier report of a 421.79 million share (5.02%) acquisition. The EPF’s total stake now exceeds the 5% threshold for substantial shareholding. In Q1 2025, 99 Speed Mart’s net profit grew to RM143.18 million from RM133.15 million, with revenue rising to RM2.6 billion and gross profit up 11.3% to RM314.5 million.

EPF and 99 Speed Mart

The Employees Provident Fund (EPF) has purchased a 5.02% stake in 99 Speed Mart Retail Holdings Bhd, acquiring 421.79 million shares via a direct off-market deal on June 4. The transaction, valued at an estimated RM868.89 million based on the closing price of RM2.06 per share, was disclosed in a Bursa Malaysia filing. Details of the seller and price remain undisclosed. Founder and CEO Lee Thiam Wah holds a 79.68% stake. Shares rose one sen to RM2.10 today, giving 99 Speed Mart a market cap of RM17.64 billion.

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