Three major banks in the country have emerged as substantial shareholder in Vantris Energy Bhd, following the issuance of new shares and securities under a debt restructuring scheme involving Sapura TMC Sdn Bhd.
The banks, Maybank, RHB, and CIMB will each receive new ordinary shares in Vantris Energy, with Maybank receiving 462.45 million new ordinary shares and 498.48 million redeemable convertible unsecured Islamic debt securities (RCUIDS) .
The issuance forms part of the settlement terms for certain outstanding liabilities owed by Sapura TMC, a wholly owned subsidiary of Vantris Energy.
As of 26 September 2025, Maybank directly holds 421.67 million shares (18.48%), while MIB indirectly holds 40.78 million shares (1.79%) in Vantris Energy, bringing the combined stake to 20.27%.
This positions Maybank as a substantial shareholder of Vantris Energy under Section 136 of the Companies Act.
RHB Bank Bhd said its wholly owned subsidiary, RHB Islamic Bank Bhd, received 164.56 million new ordinary shares in Vantris Energy at an issue price of RM0.80 each, along with 177.39 million redeemable convertible unsecured Islamic debt securities (RCUIDS). Each RCUIDS is convertible into one ordinary share.
As a result, RHB Bank holds an indirect 7.21% stake in Vantris Energy through RHB Islamic Bank, making it a substantial shareholder under Section 136 of the Companies Act.
CIMB Group Holdings Bhd was allotted a total of 276.66 million new ordinary shares in Vantris Energy at an issue price of RM0.80 each, alongside 298.22 million RCUIDS. The RCUIDS are convertible on a one-for-one basis into ordinary shares.
Of the shares issued, CIMB Bank received 208.93 million shares (9.16%), while CIMB Islamic was allotted 67.73 million shares (2.97%). Collectively, CIMB now holds an effective 12.13% stake in Vantris Energy.
CIMB said the decision to participate in the scheme took into account the importance of preserving Malaysia’s oil and gas ecosystem and supporting the sector’s long-term growth.
