Certain royal family members play significant roles in Malaysian economic development

Beyond ceremonial pomp and protocol, Malaysia’s royalty is making its presence felt in Bursa Malaysia’s boardrooms, observed The Business Times in its article published on Monday, 15 September 2025.

The business news portal said Royal households have steadily expanded their footprint on shareholder registers and boardrooms, with reports from 2018 to 2025 showing a generational shift in their corporate influence.

For instance, the business news portal added, the present Malaysian king, Johor’s Sultan Ibrahim Sultan Iskandar holds sizeable stakes in Redtone Digital and companies tied to the conglomerate Berjaya.

Similarly, Sultan Muhammad V of Kelantan became the largest shareholder in HeiTech Padu through his private company, Rosetta Partners, in 2024.

Strengthening the shift, younger royals such as Johor’s Tunku Tun Aminah Maimunah Iskandariah and Pahang’s Tengku Amir Nasser have taken the helm as chairpersons of listed firms.

Four Malaysian states – Penang, Melaka, Sabah and Sarawak – do not have hereditary monarchies.

Not all royal involvement translates into ownership or dynastic control; in some cases, members of the royalty serve as independent or non-executive directors on company boards.

These cases signal how Malaysia’s royalty has become a force in the corporate arena, shaping company leadership, strategy and, arguably, market sentiment.

One prominent example came in March 2017, when Johor princess Tunku Tun Aminah’s appointment as chairman of Redtone Digital sparked a surge of investor interest, lifting the stock by 13 per cent in days.

Permadu Malaysia readers can go through a list of royal household involvements in Bursa Malaysia-listed companies, as compiled by The Business Times, based on publicly available information.

JOHOR

Sultan Ibrahim Sultan Iskandar. REUTERS PICTURE

Sultan Ibrahim Sultan Iskandar
Sultan of Johor and the current king of Malaysia

Redtone Digital

Key business: Telecommunications and media

Market capitalisation (as at Sep 12): RM374.9 million (S$114.3 million)

Involvement: Major shareholder with direct interest of around 17.3 per cent

Berjaya Assets

Key business: Property development and investment, and gaming

Market capitalisation (as at Sep 12): RM780.3 million

Involvement: Substantial shareholder with around 12.4 per cent shareholding.

Tunku Tun Aminah Sultan Ibrahim. BERJAYA ASSETS ANNUAL REPORT PICTURE

Tunku Tun Aminah Maimunah Iskandariah
Second child of Sultan Ibrahim

Berjaya Assets

Involvement: Non-independent non-executive chairman

Berjaya Corporation

Key business: Investment holding conglomerate with a diverse portfolio including retail, services, property and hospitality

Market capitalisation (as at Sep 12): RM1.6 billion

Involvement: Non-independent non-executive chairman

Redtone Digital

Involvement: Chairman and non-independent non-executive director

Johor crown prince Tunku Ismail Ibni Sultan Ibrahim. BT FILE PICTURE

Tunku Ismail Ibni Sultan Ibrahim
Regent of Johor

Knusford 

Key Business: Trading of building materials, construction, machinery and equipment rental, property development and investment

Market capitalisation (as at Sep 12): RM45.8 million

Involvement: Chairman and non-independent, non-executive director. He holds a 30.1 per cent stake in Knusford through the private vehicle Aman Setegap, which he and businessman Lim Kang Hoo jointly own.

TMC Life Sciences

Key business: Healthcare

Market capitalisation (as at Sep 12): RM749 million

Involvement: Substantial shareholder with around 7.6 per cent stake

NEGERI SEMBILAN

Tunku Ali Redhauddin Tuanku Muhriz. ASTRO ANNUAL REPORT PICTURE

Tunku Ali Redhauddin Tuanku Muhriz
Eldest son of the current Chief Ruler of Negeri Sembilan Tuanku Muhriz

Taliworks Corp

Key business: Utilities and industrials

Market capitalisation (as at Sep 12): RM1.1 billion

Involvement: Independent and non-executive chairman

Astro Malaysia Holdings

Key business: Media and telecommunications

Market capitalisation (as at Sep 12): RM757.6 million

Involvement: Independent and non-executive chairman

Mr DIY Group

Key business: Consumer products and services (also a FTSE Bursa Malaysia KLCI Index constituent)

Market capitalisation (as at Sep 12): RM14.7 billion

Involvement: Independent non-executive director

Tunku Naquiyuddin Tuanku Ja’afar. OLYMPIA INDUSTRIES ANNUAL REPORT PICTURE

Tunku Naquiyuddin Tuanku Ja’afar
Eldest son of former Negeri Sembilan chief ruler Tuanku Ja’afar

Olympia Industries

Key business: Consumer products and services

Market capitalisation (as at Sep 12): RM66.5 million

Involvement: Non-independent and non-executive director

Techna-X

Key business: Energy

Market capitalisation (as at Sep 12): RM17.7 million

Involvement: Substantial shareholder and executive chairman. He holds 5.9 per cent stake through Rock Point Alliance.

PERAK


Raja Eleena Azlan Shah. GAMUDA ANNUAL REPORT PICTURE

Raja Eleena Azlan Shah
Fourth child of the late Sultan

Gamuda

Key business: Construction (also a FTSE Bursa Malaysia KLCI Index constituent)

Market capitalisation (as at Sep 12): RM33 billion

Involvement: Non-independent non-executive director. She holds a stake of around 3.9 per cent in Gamuda.

PAHANG

Al-Sultan Abdullah Ri’ayatuddin Al Mustafa Billah Shah. BT FILE PICTURE

Al-Sultan Abdullah Ri’ayatuddin Al Mustafa Billah Shah Sultan of Pahang (*see amendment note) and former king of Malaysia (2019 to 2024)

Citaglobal

Key business: Manufacturing, financial services and renewable energy

Market capitalisation (as at Sep 12): RM353.2 million

Involvement: Substantial shareholder with a stake of around 13.3 per cent

Tengku Hassanal Ibrahim Alam Shah. HOUSE OF PAHANG/ FACEBOOK PICTURE

Tengku Hassanal Ibrahim Alam Shah
Regent of Pahang (second child of Al-Sultan Abdullah Ri’ayatuddin)

HB Global

Key business: Food processing, packaging and production; Agriculture and aquaculture

Market capitalisation (as at Sep 12): RM35.2 million

Involvement: Owns HIS Holdings, which formed a joint venture with HB Global (HB Global Capital) to develop artificial intelligence-powered agricultural projects on about 202 hectares of his land.

Tengku Muhammad Iskandar Ri’ayatuddin Shah and Tengku Ahmad Ismail Mu’adzam Shah

Third and fourth children of Al-Sultan Abdullah Ri’ayatuddin

HB Global

Involvement: Directors of HIS Holdings, the joint venture partner of HB Global

Tengku Amir Nasser. SENI JAYA CORP ANNUAL PICTURE

Tengku Amir Nasser
Tenth child of Sultan Abdullah Ri’ayatuddin

Seni Jaya Corp

Key business: Out-of-Home advertising and media services

Market capitalisation (as at Sep 12): RM83.3 million

Involvement: Independent non-executive chairman

SELANGOR

Sultan Sharafuddin Idris Shah. SELANGOR ROYAL OFFICE / FACEBOOK PICTURE

Sultan Sharafuddin Idris Shah
Sultan of Selangor

Arka (formerly known as Transocean Holdings)

Key business: Integrated freight and logistics, and digital solutions

Market capitalisation (as at Sep 12): RM47.5 million

Involvement: Substantial shareholder, with over 32 per cent of stake

Tengku Zatashah Idris. KLOTH CIRCULARITY / FACEBOOK PICTURE

Tengku Zatashah Idris
Second child of Sultan Sharafuddin

InNature

Key business: Retail and distribution of The Body Shop products in Malaysia, Vietnam and Cambodia; owns and operates Burger & Lobster restaurants in Malaysia, Indonesia and Vietnam

Market capitalisation (as at Sep 12): RM127.1 million

Involvement: Independent non-executive director

KELANTAN

Sultan Muhammad V.  SULTAN MUHAMMAD SULTAN MUHAMMAD FACEBOOK PICTURE

Sultan Muhammad V 
Sultan of Kelantan

HeiTech Padu

Key business: Technology, data centre management and consulting services

Market capitalisation (as at Sep 12): RM256.6 million

Involvement: Major shareholder with a stake of around 22.5 per cent, held via Sultan Muhammad V’s private company Rosetta Partners

Tengku Mohamad Rizam. REXIT ANNUAL REPORT PICTURE

Tengku Mohamad Rizam
Cousin of Sultan Muhammad V

Rexit

Key business: Software-as-a-service solutions and information technology services

Market capitalisation (as at Sep 12): RM90.1 million

Involvement: Independent non-executive chairman

Amendment note: Article has been edited to reflect his current position


Adapted by Permadu Malaysia, based on publicly available information.

End©Permadu

Visit Permadu Malaysia blog at permadumalaysia.blogspot.com


Adapted by Fauzi Kadir
Chief Editor

Assistant Editor
Kwai Fong Chin


Final editing and brought to you by
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