Sultan of Johor becomes REDtone's biggest individual shareholder

REDtone International Bhd welcomes the Sultan of Johor, Sultan Ibrahim Sultan Iskandar as its single largest individual shareholder with a 20 per cent stake.

In a statement Monday, REDtone said Sultan Ibrahim had been steadily accumulating shares in REDtone over the past one year and prior to the warrants and Irredeemable Convertible Unsecured Loan Stocks (ICULS) conversion, he held a 4.8 per cent stake in REDtone.

REDtone chairman Datuk Seri Syed Ali Syed Abbas Al-Habshee said this was a vote of confidence for the management, the company and its future prospects.

"We are excited to have Tuanku as one of our major shareholders, especially at a time when we are aiming to further solidify our growth and widen our profits.

"Backed by strong core competencies, we hope to capitalise on Johor's robust growth by expanding our business there, and creating more employment opportunities," he added.