Abdul Jalil trims stake in BCorp

Abdul Jalil trims stake in BCorp
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KUALA LUMPUR (March 18): Berjaya Corp Bhd’s (BCorp) CEO Abdul Jalil Rasheed has disposed of some 15 million shares in the conglomerate, trimming his direct stake to 3.318% or 171.57 million shares.

The disposal took place via direct business transaction on Wednesday (March 16), according to the group's bourse filing Friday (March 18). According to Bloomberg data, Jalil previously held (as at Oct 1, 2021) 186.57 million shares, representing a 3.61% stake in BCorp.

Earlier, The Edge, quoting several sources, reported that Abdul Jalil will be stepping down from his post to pursue personal interests. Jalil, who was appointed to helm the group on March 16 last year, is the first non-family member to run Tan Sri Vincent Tan’s business empire.

Tan, meanwhile, bought 15 million shares in the group via direct business transaction, also on Wednesday. The BCorp founder now directly holds 1.17 billion shares or 22.603% in the group. He also holds 994.8 million shares or 19.238% indirect shares.

For the six months ended Dec 31, 2021 (6MFY22), BCorp reported a net profit of RM41.7 million versus a net loss of RM108.66 million a year earlier, despite revenue declining to RM3.44 billion from RM3.88 billion.

BCorp shares closed unchanged at 24 sen on Friday, with a market capitalisation of RM1.3 billion. The counter has risen 20% from when it was trading at 20 sen apiece on March 19, 2021.

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Abdul Jalil to step down as Berjaya Corp CEO to pursue personal interests

Tan Choe Choe