KUALA LUMPUR (March 24): Alam Maritim Resources Bhd’s (KL:ALAM) head of global subsea business Alvin Ch’ng Yi Ming has emerged as a substantial shareholder in the company, after acquiring a 8.91% stake. According to a bourse filing, the stake equivalent of 39.7 million shares in Alam Maritim was purchased in March 19. A back-of-the-envelope calculation showed the 39.7 million shares would have been worth RM10.72 million, based on the closing price of 27 sen on March 19. Maybank acquired a 19.16% stake in Alam Maritim under a scheme of arrangement in September last year. Saujana raised its shareholdings to 66.92 million shares or a 15.019% stake, from a 10.65% stake previously.

Source: The Edge Markets March 24, 2026 16:13 UTC