KUALA LUMPUR (Nov 11): Mohd Solehuddin Yahya has ceased to be a substantial shareholder in Binasat Communications Bhd (KL:BINACOM) following the disposal of his entire deemed interest in the telecommunications support services provider.

The deemed interest, comprising 24.71 million shares or a 5.79% stake, was held through Dynamic Paradigm Sdn Bhd. It was disposed of via a direct business transaction on Nov 5, according to Binasat's filing with Bursa Malaysia on Tuesday.

The transaction price was not disclosed but based on the closing price of 11 sen on Nov 5, the block of shares was estimated to be worth RM2.72 million.

Mohd Solehuddin had been a member of Binasat’s board since 2021.

He also became a substantial shareholder of the group that year, but his interest subsequently fluctuated as Dynamic Paradigm disposed of portions of its holdings between 2022 and 2024, before regaining substantial shareholder status in February 2025.

Binasat's largest shareholder is businessman Datuk Eddie Ong Choo Meng, who controls the Hextar Group of companies, which has interests spanning chemicals, agriculture, industrial products and renewable energy.

Shares of Binasat closed up by one sen or 8.7% to 12.5 sen on Tuesday, giving it a market value of RM75.5 million.

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