Berjaya Corporation Bhd and its listed subsidiary Berjaya Property Bhd have disposed of stakes in five listed companies, including Berjaya Food Bhd, REDtone Digital Bhd, 7-Eleven Malaysia Holdings Bhd and Salcon Bhd, to related party Detik Ria Sdn Bhd for a total of RM76.79 million in cash.
Berjaya Corp said the transactions were carried out via direct business deals on Thursday (May 28).
The disposals involved reductions in shareholdings across several companies, including Berjaya Property, Berjaya Food, REDtone, 7-Eleven Malaysia and Salcon.
Following the transactions, Berjaya Corp’s stakes were reduced to 74.22% in Berjaya Property, 63.3% in Berjaya Food, 34.06% in REDtone, 12.09% in 7-Eleven Malaysia, and 11.78% in Salcon.
The group said the proceeds will be used to repay borrowings and for working capital, including administrative, marketing and operating expenses.
Separately, Berjaya Property confirmed that its subsidiary Nural Enterprise Sdn Bhd sold a 1.98% stake (21.93 million shares) in 7-Eleven Malaysia to Detik Ria for RM43.85 million, with proceeds earmarked for ongoing development projects.
The transactions were conducted at prevailing market prices, according to the filings.
Detik Ria is linked to several key figures within the Berjaya group, including Tan Sri Vincent Tan and Johor princess Tunku Tun Aminah Sultan Ibrahim Ismail, among others.
Berjaya Corp shares closed 0.5 sen lower at 24.5 sen, while Berjaya Property rose 0.5 sen to 26.5 sen.
