KUALA LUMPUR (Dec 12): Urusharta Jamaah Sdn Bhd, a special purpose vehicle under the Ministry of Finance, has emerged as a substantial shareholder of Ramssol Group Bhd (KL:RAMSSOL) with a 5.09% stake.

According to the company’s notice, Urusharta Jamaah, via its external fund manager Amundi, acquired one million Ramssol shares on Dec 9, lifting its indirect stake to 7.19 million shares or 1.84%.

Combined with its direct holding of 12.66 million shares or 3.24%, this brings Urusharta’s total stake in Ramssol to 19.86 million shares, equivalent to 5.09%.

Other substantial shareholders of Ramssol include group managing director and CEO Datuk Seri Cllement Tan Chee Seng with 20.92%, group chief operating officer Liew Yu Hoe with 5.32%, and Top Glove Corp Bhd’s (KL:TOPGLOV) executive chairman Tan Sri Lim Wee Chai with 4.95%.

On Dec 8, Ramssol announced that its wholly owned subsidiary Rider Gate Sdn Bhd was appointed by the Ministry of Transport (MOT) as the Road Transport Department’s (JPJ) authorised collection agent for motor vehicle ownership transfers, licence renewals, and traffic summons payments.

The appointment runs for two years from the commencement of JPJ services on the Rider Gate application platform.

Ramssol had also announced in October that it was appointed by Tencent Cloud as distributor of its cloud services in Southeast Asia. Its wholly owned unit RAMS PeopleTech Sdn Bhd will oversee distribution across Malaysia, Singapore, Thailand, Indonesia, Vietnam and the Philippines.

For the third quarter ended Sept 30, 2025 (3QFY2025), Ramssol posted a record net profit of RM7.45 million, up 71% year-on-year, on record revenue of RM29.35 million, which grew 50.78%.

The stronger performance was driven by rising demand for AI software development and IoT digitalisation projects in Malaysia and Thailand, as well as higher sales from human capital management and AI cloud solutions in Indonesia and Thailand.

For the nine-month period, net profit rose 47.6% to RM19.01 million from RM12.89 million a year earlier, while revenue increased 41.4% to RM72.39 million from RM51.19 million.

Shares in Ramssol closed half a sen or 0.5% higher at RM1 on Friday, valuing the company at RM390.24 million.