HIS TIZA To Buy 30 Pct Stake In Mentiga For RM21 Mln
KUALA LUMPUR, Oct 13 (Bernama) -- HIS TIZA Pahang Sdn Bhd (HTP) is acquiring a 30 per cent stake in Pahang-based plantation group Mentiga Corporation Bhd for RM21 million in cash from its largest shareholder, Amanah Saham Pahang Bhd (ASPA).
In a filing with Bursa Malaysia today, Mentiga said the acquisition price represented a 72.41 per cent premium to its market price of 58 sen per share. Its unaudited net assets stood at RM3.17 per share as at June 30, 2026.
Upon completion, HTP will become Mentiga’s second-largest shareholder, while ASPA, which is wholly owned by the Pahang state government, will remain the largest shareholder with a 43.91 per cent stake.
Under the agreement, HTP has committed to retaining its shares in Mentiga for at least five years, reflecting its long-term investment horizon.
The transaction is expected to be completed within 30 market days from the date of the share sale agreement (SSA), or by a later date mutually agreed upon by ASPA and HTP.
HTP is a 50:50 joint venture between TIZA Global Sdn Bhd and HIS Holdings Sdn Bhd. TIZA Global is the investment holding company of Citaglobal Bhd executive chairman and president Tan Sri Dr Mohamad Norza Zakaria.
TIZA Global executive chairman Tan Sri Norza Zakaria said HTP would support Mentiga’s ongoing recovery by bringing entrepreneurial drive, turnaround experience and new growth opportunities to its board and management.
“Mentiga has strong foundations: a substantial Pahang landbank, an established plantation business and a turnaround already under way.
“The Pahang state government has called for a clear recovery plan for Mentiga. We welcome ASPA’s continued role as the company’s largest shareholder and look forward to working closely with it,” he said.
He said HTP’s five-year shareholding commitment reflected its confidence in Mentiga’s potential to become a strong and sustainable platform, pursue new opportunities, expand into high-growth sectors and deliver meaningful returns for ASPA and its stakeholders.
HTP plans to work with Mentiga’s board and management to improve plantation productivity, strengthen the company’s performance and position it as a leading plantation platform in Pahang.
-- BERNAMA