KUALA LUMPUR (June 16): Berjaya Corp Bhd’s share price opened about 3% higher on Bursa Malaysia today after the diversified entity’s group chief executive officer (CEO) Jalil Rasheed announced yesterday Berjaya Corp’s strategic transformation plan to help the group become a high-performing organisation.
The stock opened one sen or 2.99% higher at 34.5 sen, with a market value of about RM1.84 billion and four million shares changing hands.
Yesterday, Berjaya Corp said in a Bursa filing that the strategic plan will transform the conglomerate into a consumer group with focused core business segments, each led by respective sector heads with oversight from the group CEO.
Berjaya Corp’s diversified business segments comprise operations in the retail, food and beverage (F&B), property, hospitality and services sectors, according to the group.
Jalil said in the statement: “I’ve spent the past three months studying the businesses in detail, and this strategic plan is to address the gaps we have (focus and discipline) and enhance the strengths (established brands in the growth sectors)."
“This process will optimise our resources better, improve synergies and efficiency within the group, and enhance corporate governance and transparency. This in turn will transform Berjaya Corp into a high-performing organisation and realise the unlocked value of the business,” he said.