Friday 02 Jun 2023
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KUALA LUMPUR (July 16): Berjaya Corp Bhd (BCorp) said the strategic plans mentioned by its chief executive officer Abdul Jalil Rasheed at a virtual event yesterday were merely personal ideas and strategies, and that its board is not aware of them and has not deliberated on any of them.

In a filing with the bourse, BCorp said Jalil has been mandated to relook at the BCorp structure, as well as improve synergies and efficiency, streamline the various group businesses and transform the group into a high performing organisation.

“Jalil was answering possible permutations as to how he can structure the BCorp group to achieve the objectives of the restructuring exercise and the possibility of divesting certain assets during these public investor relation forums,” it said.

It added that the board of directors will deliberate on the finalised proposals which will be tabled for consideration and decision.

During a virtual event organised by MIDF Amanah Investment Bank yesterday, Jalil mentioned plans for the privatisation of Berjaya Land Bhd (BLand), sale of Berjaya Sports Toto Bhd (BToto) as well as the setting up of a hospitality real estate investment trust (REIT).

He was quoted as saying that BCorp has not set a timeline to privatise BLand or to sell BToto, although he hoped that the group would privatise BLand “sooner rather than later”.

BCorp shares rose 0.5 sen or 1.8% today to close at 28 sen, giving it a market capitalisation of RM1.5 billion.

Edited ByTan Choe Choe
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