PETALING JAYA: Mohamad Shu’if Haji Mohamad Hussain, a Bruneian entrepreneur, will emerge as the new substantial shareholder of Scomi Group Bhd via his undertaking of the excess shares of the company’s proposed rights issue.

Shu’if will be participating in the exercise via his Hong Kong based vehicle, Sharp Ascend Ltd (SAL), which he is the sole shareholder.

The completion of the rights issue will see Shu’if having between 14% and 15% of Scomi Group.

Shuif is known in corporate circles as an investor for the royal family of Brunei.

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