Datuk Vijayasundaram takes 9.09% of Turiya in $2.24M placement
What's the deal? Datuk Vijayasundaram Jeyabalan has become Turiya BhdDealroom has a profile for this one. Try Dealroom →'s second-largest shareholder after acquiring 22.872 million shares, a 9.091% stake, through a private placement. He subscribed to the entire placement at 40 sen per share on October 14, 2026, for US$2.19M.
Who is the buyer? Vijayasundaram is chief executive officer of LSP Sdn BhdDealroom has a profile for this one. Try Dealroom →, which specialises in lighting projects and interior contracting for the hospitality sector, royal institutions, and government buildings. He also sits on the board of trustees of Tabung Amanah Sultan Kedah.
Why now? Turiya proposed the placement to fund the upgrade and refurbishment of Wisma Chase Perdana and scheduled financing instalments.
Who's in charge? Corporate veteran Nor Shamir Nor Shahid, 55, was appointed managing director on October 15, 2026, in a non-director capacity. Turiya said he may be considered for a future board role if its strategic, governance, or shareholder needs warrant it.
The reshuffle also saw substantial shareholder Shweta Nandy, 32, redesignated as a non-executive director after more than two years as executive director. She will step back from daily executive coordination while continuing to advise the board.
By the numbers: Turiya posted a net profit of US$944.6K on revenue of US$6.99M for the financial year ended June 30, 2026. Its shares were unchanged at 22.5 sen, valuing the company at US$13.5M, down 4.26% year to date.
The signal: Turiya's largest shareholder remains Datuk Seri Shamir Kumar Nandy, who holds an indirect 28.89% stake via Manor CapitalDealroom has a profile for this one. Try Dealroom →. Vijayasundaram's entry brings fresh capital — and a new name near the top of the register — as the company funds property upgrades and reshapes its leadership.
Read more: newswav.com
Image credit: Generated with Gemini
