maybank, rhb and cimb become vantris shareholders under restructuring plan

PETALING JAYA, 20 SEPTEMBER 2026 —

Maybank, RHB Bank and CIMB Group each received new ordinary shares and redeemable convertible unsecured Islamic debt securities (RCUIDS) in Vantris Energy Bhd as part of the oil‑and‑gas firm’s restructuring settlement, filings to Bursa Malaysia show.

Maybank and its Islamic arm were issued a combined 462.45 million ordinary shares and 498.48 million RCUIDS, giving the bank a deemed 20.27 % stake in Vantris, according to the bank’s filing. The allocation settles liabilities owed by Sapura TMC Sdn Bhd, a wholly‑owned Vantris subsidiary.

RHB Bank’s unit, RHB Islamic Bank, received 164.56 million new shares at 80 sen each and 177.39 million RCUIDS, which convert on a one‑for‑one basis with settlement shares. The issue translates to an indirect 7.21 % holding in Vantris, the bank disclosed in a separate filing.

CIMB Group’s subsidiaries, CIMB Bank and CIMB Islamic Bank, were allotted 208.93 million and 67.7 million ordinary shares respectively, together with 225.21 million and 73 million RCUIDS. The combined allocation results in a 12.13 % deemed interest in the energy company, CIMB Group confirmed.

The three banks’ participation follows Vantris’ effort to restructure debt owed to its lenders. By converting part of the outstanding obligations into equity and RCUIDS, Vantris reduces cash outflows while giving creditors a foothold in its upstream assets. The RCUIDS are unsecured and Islamic‑compliant, allowing conversion into ordinary shares at a later date, which could further dilute existing shareholders but improve the company’s balance sheet.

For investors, the transactions signal a shift in Vantris’ capital structure. The banks now collectively hold nearly 40 % of the company, potentially influencing future strategic decisions and financing arrangements. Market participants will watch how quickly the RCUIDS are converted and whether the equity stakes translate into operational support or board representation.

Analysts note that the 20.27 % stake for Maybank makes it the largest single shareholder, positioning the bank to benefit from any upside in Vantris’ oil and gas production. RHB’s 7.21 % and CIMB’s 12.13 % holdings diversify exposure across the three major financial groups, each of which may leverage the position for cross‑selling opportunities.

The restructuring does not alter Vantris’ existing production outlook, but the infusion of equity and the conversion mechanism could enhance liquidity and fund capital‑intensive projects. Observers will monitor quarterly reports for any change in Vantris’ net debt ratio and the pace of RCUIDS conversion, which will determine the long‑term impact on shareholder value.

Related: Vantris Energy Bhd · Bursa Malaysia · Petaling Jaya