Nadzmi Salleh Steps Down as Chairman of Konsortium Transnasional After 16 Years

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Tan Sri Dr Mohd Nadzmi Mohd Salleh stepped down as chairman of Konsortium Transnasional Bhd (KTB) on Monday (Sept 27), 16 years after being named chairman and managing director of the public bus operator.

According to a Bursa Malaysia filing by KTB on Monday, Mohd Nadzmi owns 73.22 million shares in KTB, representing an 18.18 percent ownership.

“[Mohd Nadzmi is] assessed to have an indirect interest in the firm of 65.91 million shares through his ownership of Lengkap Suci Sdn Bhd. Additionally, he has a direct interest in 7.31 million [shares] through his direct ownership of KTB,” according to KTB, which has 402.8 million issued shares.

Mohd Nadzmi was appointed chairman and managing director of KTB on September 27, 2005, according to the company’s most recent annual report.

Mohd Nadzmi, according to KTB, has extensive expertise, particularly in the automobile and public transit industries.

“Mohd Nadzmi found himself thrown into the corporate sector early in his career. He was appointed CEO of Edaran Otomobil Nasional Bhd, the business responsible for the distribution of Malaysia’s national car (Proton),” KTB reported.

According to the KTB website, the company, which began trading on Bursa Malaysia on June 15, 2007, operates stage and express bus services throughout Peninsular Malaysia.

“Stage and express bus operations cover the majority of Peninsular Malaysia, including practically all major cities and towns as well as Singapore. The countrywide network is serviced by a fleet of over 1,500 buses that operate on over 250 routes, generating over 1,000 trips daily and carrying about 60 million people annually,” KTB claimed.

“KTB now holds the biggest market share, with ‘Transnasional’ being the market leader in Peninsular Malaysia’s express bus industry. Apart from ‘Transnasional,’ KTB also offers stage buses under the ‘Cityliner’ brand, economical express buses under the ‘Plusliner’ brand, and luxury bus services under the ‘Nice’ brand,” KTB added, without detailing its market share in Peninsular Malaysia’s express bus industry.

KTB’s share price ended Monday (Sept 27) at 18.5 sen, down 0.5 sen or 2.63 percent, valuing the firm at around RM74.52 million.

KTB’s share price has risen to current levels in the recent month from its closing price of 13.5 sen on Aug 27, 2021.

Published by Zack Baharum

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