BCorp says it’s not aware of Vincent Tan’s restructuring plans

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KUALA LUMPUR (Dec 20): The board of directors of Berjaya Corp Bhd (BCorp) said it is not aware of the restructuring plans announced by its executive chairman Tan Sri Vincent Tan.

The board has not deliberated any of the plans disclosed to the media by Tan yesterday, BCorp said in a filing with the stock exchange today.

The plans, which included the delisting of 7-Eleven Holdings Bhd and Berjaya Land Bhd, are Tan’s personal idea and strategies, the group added.

Tan had also announced that the group is in the midst of sealing a deal to sell off its Four Seasons Hotel and Hotel Residences Kyoto in Japan.

BCorp, in its filing today, said it is still in negotiations with potential buyers on the possible sale of the Kyoto asset and has not entered into any definitive agreement.

Shares of BCorp closed half a sen or 1.82% higher at 28 sen, with 35.19 million shares exchanging hands. The group’s market capitalisation stood at RM1.37 billion.