<div class=newsTextDataWrapInner><p>This article first appeared in <em>The Edge Financial Daily, </em>on June 8, 2016.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>KUALA LUMPUR: Berjaya Land Bhd (BLand) and its wholly-owned subsidiary Gateway Benefit Sdn Bhd have sold nine million shares, representing a 0.67% stake, in Berjaya Sports Toto Bhd (BToto) for RM25.75 million.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The shares were disposed of on May 24 and June 6, at an average price of RM2.86 per share, BLand said in a filing with Bursa Malaysia yesterday.</p></div>

<div class=newsTextDataWrapInner><p>It said the disposals resulted in a net loss of RM5.57 million as the shares, which had been purchased since 1992, had a total carrying value of RM31.32 million, or an average of RM3.48 per share.</p></div>

<div class=newsTextDataWrapInner><p>“The net cash proceeds from the disposals will be utilised as working capital and repayment of borrowings of the BLand group,” it added.</p></div>

<div class=newsTextDataWrapInner><p>Following the disposals, BLand and its unlisted subsidiaries hold a total of 539.88 million shares, representing a 40.05% equity interest, in BToto.</p></div>

<div class=newsTextDataWrapInner><p>Meanwhile, BLand, together with its holding company Berjaya Corp Bhd and its unlisted subsidiaries, collectively hold a total of 655.4 million shares, or a 48.62% stake, in BToto.</p></div>

<div class=newsTextDataWrapInner><p>BToto remains a subsidiary of BLand, which in turn is a subsidiary of Berjaya Corp, said BLand.</p></div>


This article first appeared in The Edge Financial Daily, on June 8, 2016.

 

KUALA LUMPUR: Berjaya Land Bhd (BLand) and its wholly-owned subsidiary Gateway Benefit Sdn Bhd have sold nine million shares, representing a 0.67% stake, in Berjaya Sports Toto Bhd (BToto...

Berjaya Land disposes of Berjaya Toto shares at a loss

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<p>Advanced Micro Devices Inc (AMD) is shedding about a thousand jobs as part of an effort to refocus on newer markets like artificial intelligence (AI) chips.</p>

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