KUALA LUMPUR – Johor ruler Sultan Ibrahim ibni Almarhum Sultan Iskandar has emerged as a substantial shareholder in 7-Eleven Malaysia Holdings Bhd.

According to a filing with Bursa Malaysia on Tuesday, he now owns a direct stake of 8.438% or 93.7 million shares in the operator of the country’s largest convenience store chain.

As at Dec 31, 2016, the company has a total of 2,122 stores.

In a press statement, 7-Eleven Malaysia said Sultan Ibrahim had become its second largest individual shareholder.

Tan Sri Vincent Tan, the largest shareholder, was quoted as saying: “I am very pleased that Sultan Ibrahim has increased his stake in 7-Eleven Malaysia.

“This augurs well for the company, given that Tuanku is known to be an astute investor with a keen eye for companies and businesses with strong fundamentals and good growth potential.”

Besides 7-Eleven, Sultan Ibrahim also owns shares in several companies in which Tan also has stakes.

They include REDtone International Bhd, in which Tan owns about a 51.71% stake through Berjaya Corp Bhd, while Sultan Ibrahim directly owns a 17.9% stake.

The other is U Mobile Sdn Bhd, in which Tan is the second-largest shareholder with a 21.46% stake, followed by Sultan Ibrahim with 15%.