He has an 8.44% stake after acquiring 93.70 million shares in the chain of convenience stores since July 2017.

7-Eleven Malaysia’s largest shareholder Vincent Tan said Sultan Ibrahim’s move to increase his stake in 7-Eleven Malaysia augured well for the company, given that he was known to be an astute investor with a keen eye for companies and businesses with strong fundamentals and good growth potential.

7-Eleven Malaysia chairman Abdull Hamid Embong said the move by the Johor monarch reflected his confidence in the performance and future potential of 7-Eleven Malaysia.

“We believe that with a shareholder of Tuanku’s stature, 7-Eleven’s position in the retail industry will be further strengthened,” he added.

Incorporated in 1984, 7-Eleven is the pioneer and largest 24-hour standalone convenience store operator in Malaysia with over 2,100 outlets nationwide.