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Property News

BAssets disposes of 0.48% stake in BCorp for RM8.24m

KUALA LUMPUR (Feb 13): Berjaya Assets Bhd (BAssets) had been disposing of its shares in its major shareholder Berjaya Corp Bhd (BCorp) from last August to this month, to the tune of 0.48% of BCorp’s share base, for RM8.24 million cash.
According to a Bursa filing on Friday, BAssets’s wholly owned unit Berjaya Bright Sdn Bhd (BBright) disposed an aggregate 19.16 million shares or a 0.33% stake in BCorp via direct business transactions over the past six months, for a total of RM5.59 million.
The company said it disposed 12.2 million to unrelated parties for about RM3.5 million cash or 0.29 sen apiece, and another 6.96 million shares to BCorp founder Tan Sri Vincent Tan Chee Yioun-controlled U Telemedia Sdn Bhd for about RM2.09 million or 30 sen apiece.
“For information, BBright had also during the period from Sept 20 to 26, 2023, disposed of in the open market, a total of 9.03 million BCorp shares, representing about 0.15% equity interest in BCorp for a total cash consideration of about RM2.65 million,” it added. 
Post disposals, BAsset’s shareholding in BCorp is trimmed to 174.85 million shares or a 2.99% stake.
BCorp is a major shareholder of BAssets with a 16.62% stake via a slew of investment vehicles, including Portal Access Sdn Bhd, Immediate Capital Sdn Bhd, BTS Hotel Sdn Bhd and Nada Embun Sdn Bhd.
Tan, the billionaire businessman behind the wider Berjaya group of companies, controls a 15.49% stake in BCorp and 48.56% in BAssets.
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Source: EdgeProp.my


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