PETALING JAYA — A small step turned into a big milestone for 99 Speed Mart as the Employees Provident Fund (EPF) recently increased its stake in the popular minimart chain, making it an official substantial shareholder.
The EPF confirmed that it had purchased six million shares — just a 0.07% stake — on June 4. While the number may sound small, it pushed EPF’s total holding in 99 Speed Mart to 5.02%, crossing the key 5% threshold that classifies an investor as a substantial shareholder under regulatory guidelines.
The clarification came after an earlier report mistakenly stated that EPF had acquired a much larger stake of 421.79 million shares. That error has since been corrected in an updated filing with Bursa Malaysia.
This development comes as 99 Speed Mart continues to show strong financial health. For the quarter ending March 31, 2025, the company recorded a net profit of RM143.18 million, up from RM133.15 million in the same period last year. Revenue also saw an uptick, reaching RM2.6 billion compared to RM2.4 billion previously.
A combination of better promotional strategies and incentives helped boost gross profit by 11.3%, amounting to RM314.5 million. The company also saw a slight improvement in profit margins — a sign that its growth strategy is paying off.
For everyday Malaysians, this move signals confidence from one of the country’s most trusted funds in a homegrown retail success story — and potentially, a sign of even greater things to come.
