This article first appeared in The Edge Financial Daily, on June 15, 2016.

KUALA LUMPUR: Kumpulan Europlus Bhd, a highway concessionaire, saw two of its substantial shareholders MWE Holdings Bhd and IJM Corp Bhd increase their shareholdings recently.

In a filing with Bursa Malaysia yesterday, Kumpulan Europlus said MWE purchased six million shares or a 0.6% stake on Monday, raising the latter’s shareholding to 256.57 million shares or 25.59%.

According to Kumpulan Europlus’ latest annual report, MWE’s shareholding was at 20.91% as at Aug 10 last year

Tycoon Tan Sri Surin Upatkoon, who is also known as KK Lau, holds 32.96% in MWE through his private vehicle Pinjaya Sdn Bhd.

Meanwhile, construction giant IJM Corp has also increased its stake in Kumpulan Europlus.

Year to date, IJM Corp has bought some 1.33 million shares or 0.13% stake in Kumpulan Europlus, raising the former’s shareholding to over 262.26 million shares or a 26.15% stake as at May 31, compared with a 25.8% stake last August.

Through its 80%-owned subsidiary West Coast Expressway Sdn Bhd, Kumpulan Europlus holds the concession to construct the 233km West Coast Expressway (WCE) project from Banting, Selangor to Taiping, Perak.

The remaining 20% is owned by Road Builder (M) Sdn Bhd, a wholly-owned subsidiary of IJM Corp.

Kumpulan Europlus share price closed unchanged at 95.5 sen yesterday, bringing a market capitalisation of RM957.61 million.