PETALING JAYA: What initially appeared to be a massive buy-in turned out to be a small but significant step—yet it’s a milestone all the same.
99 Speed Mart, a household name in convenience shopping across Malaysia, clarified today that the Employees Provident Fund (EPF) recently purchased a modest 0.07% stake in the company. While the number may sound small—just six million shares—it was enough to tip EPF’s total holdings past the 5% mark, officially making them a substantial shareholder.
This clarification comes after an earlier filing with Bursa Malaysia mistakenly suggested EPF had scooped up a whopping 421.79 million shares, equivalent to a 5.02% stake in a single go. The amended filing sets the record straight: EPF already held a majority of the stake and the recent purchase merely pushed it across the substantial shareholder threshold.
Behind the headlines, it’s easy to miss what this means for everyday Malaysians. EPF’s decision to increase its stake shows growing confidence in 99 Speed Mart’s long-term potential—good news for contributors, whose retirement funds are now more closely tied to a company many Malaysians shop at daily.
And the company is holding up its end of the bargain. In the first quarter ending March 31, 2025, 99 Speed Mart reported a solid performance: net profit grew to RM143.18 million, up from RM133.15 million a year earlier. Revenue also climbed from RM2.4 billion to RM2.6 billion, driven by effective promotions and smart incentives that not only benefited customers but boosted the bottom line.
For many Malaysians, this is more than just a market update—it’s a sign that familiar local brands continue to thrive, and that trusted institutions like EPF are investing wisely in them.
