Berjaya Assets Bhd (BAssets) has sold shares in Berjaya Corp Bhd (BCorp) and Berjaya Property Bhd to major shareholder Tan Sri Vincent Tan Chee Yioun for a total cash consideration of approximately RM20 million.
In a filing with Bursa Malaysia, BAssets said its wholly owned subsidiaries, Berjaya Bright Sdn Bhd and Berjaya Times Square Sdn Bhd, carried out the disposals through direct business transactions.
The sale involved 59.79 million BCorp shares, representing a 1.01% stake, valued at RM14.05 million or 23.5 sen per share.
Additionally, BAssets disposed of 23.8 million Berjaya Property shares, equivalent to a 0.49% stake, for RM5.95 million or 25 sen per share.
Following the transactions, BAssets’ stake in BCorp declined to 1.39% from 2.39%, while its holding in Berjaya Property fell to 0.27% from 0.75%.
The company said the disposal prices were based on prevailing market rates at the time of the transactions, with all shares sold free of encumbrances.
According to BAssets, the move allows the group to partially realise its investments in both companies, with proceeds to be used as working capital for ongoing development projects.
The company added that the disposals are not expected to materially impact its net assets, earnings, or gearing for the financial year ending June 30, 2026, and will not affect its issued share capital or substantial shareholders’ holdings.
