Tan purchased 59.97 million Berjaya Corp shares, equivalent to a 1.02% stake, from Berjaya Assets for RM14.05 million through a direct business transaction, according to a stock exchange filing on Monday cited by The Star.
The shares had been held by Berjaya Assets’ wholly owned subsidiaries, Berjaya Bright and Berjaya Times Square.
The businessman had earlier acquired 60 million Berjaya Corp shares, or a 1.01% stake, for RM14.1 million through another direct business transaction on June 8, as reported by The Edge Malaysia.
Following the transactions, Tan’s direct holding in Berjaya Corp has been lifted to 6.13%. His indirect interest in the group remains at 10.96%.
 |
|
Vincent Tan pictured during a press conference, May 21, 2015. Photo by Belga via AFP |
Berjaya Assets’ Monday filing also disclosed the sale of a 0.48% stake in Berjaya Property, a listed subsidiary of Berjaya Corp, to Tan for RM5.95 million.
It noted that the disposals were aimed at enabling it “to realize part of its investment in Berjaya Corp and Berjaya Property,” and that the proceeds would mainly be used as working capital and to finance its ongoing property development projects.
Tan’s direct stake in Berjaya Corp dropped to 4.1% late last month after he sold 461.65 million shares in the group for around RM115 million through seven transactions, as reported by Bloomberg.
He had also disposed of a 5.25% stake in Berjaya Corp for RM79.6 million in March.
Tan founded Berjaya Corp and grew it into a sprawling conglomerate with businesses ranging from property and retail to financial services and gaming. He stepped down as the group’s non-independent, non-executive chairman in 2023 and currently serves as an advisor to the board.
Forbes ranked him as Malaysia’s 29th-richest person in April with an estimated net worth of US$940 million. Berjaya Corp had a market capitalization of RM1.49 billion as of Monday’s close.
His business interests also include major Malaysian mobile operator U Mobile and convenience store chain 7-Eleven Malaysia.
Source:e.vnexpress.net
