KUALA LUMPUR (Oct 10): The family of Public Bank Bhd founder, the late Tan Sri Teh Hong Piow, has reduced its stake in Malaysia’s third-largest bank by assets. Through Consolidated Teh Holdings Sdn Bhd, the estate disposed of 50 million shares, or a 0.26% stake, filings showed. The family now holds 22.02% of the lender, down from 22.28%.
Teh Family cut stakes
Under the Financial Services Act, it must cut its ownership to 10% within five years via a restricted offer for sale. The Employees Provident Fund remains another key shareholder with 17.86%. Public Bank’s 2QFY2025 net profit slipped slightly to RM1.76 billion. Its shares closed five sen lower at RM4.29, valuing the bank at RM83.3 billion.
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