Lin Yun Ling acquires 1.2 mil shares in Gamuda via ESOS

• Lin — who is also the managing director of the company — currently holds a 2.9% direct stake or 80.42 million shares in Gamuda.

KUALA LUMPUR (June 26): Founder of Gamuda Bhd (KL:GAMUDA) Datuk Lin Yun Ling has exercised his share options under the Employees' Share Options Scheme (ESOS) to acquire 1.2 million shares at RM2.55 apiece.

According to a bourse filing on Wednesday, Lin would have acquired the block of shares for RM3.06 million.

Based on Gamuda's last closing price of RM6.59, the block of shares is now worth RM7.91 million, representing an instant gain of RM4.85 million in market value for Lin.

Lin — who is also the managing director of the company — currently holds a 2.9% direct stake or 80.42 million shares in Gamuda.

Gamuda’s substantial shareholders are institutional investors, including Amanah Saham Nasional Bhd with a 13.7% stake and the Employees Provident Fund Board (EPF) with an 8.7% stake.

Shares of Gamuda have rallied 43.6% since the beginning of the year particularly due to the hype surrounding data centre projects. In comparison, Bursa Malaysia’s construction index has climbed 39.7% year to date.

At its current price, Gamuda is valued at RM18.26 billion.

For the third quarter ended on April 30, 2024 (3QFY2024), the construction outfit's net profit rose 5.6% year-on-year to RM235.8 million from RM223.37 million, thanks to higher contributions from overseas projects.

Quarterly revenue grew 20.5% to RM2.49 billion from RM2.07 billion. As at April 30, 2024, Gamuda reported an outstanding order book of RM24 billion.

Looking to buy a home? Sign up for EdgeProp START and get exclusive rewards and vouchers for ANY home purchase in Malaysia (primary or subsale)!