KUALA LUMPUR (March 18): Berjaya Corporation Bhd (BCorp) has joined forces with London-based merchant bank and investment firm New World Capital Advisors Ltd (NCWA) to provide advisory services in Malaysia. The two groups have agreed to establish a new company called New World Capital Advisors Sdn Bhd (NWCA Malaysia), with BCorp subscribing for 40% or US$240,000 (RM989,160) of the company’s founding share capital of US$500,000. “NWCA Malaysia will be focusing on providing advisory services including mergers and acquisitions, strategy and operations advice to diversified businesses, corporations, and institutional investors in Malaysia as well as neighboring countries where they have a presence,” BCorp said in a statement. NWCA is the advisory and merchant banking division of New World Group (NWG), which has over US$2.5 billion of group asset under management (AUM), and acts as a fiduciary to institutional and sovereign capital across the asset management, technology and venture capital verticals. BCorp said Lena Tan has been appointed as the chairman and managing director of NWCA Malaysia. She is currently a director at 7-Eleven Malaysia Holdings, Razer Fintech Holdings, Berjaya Fintech, Berjaya Retail and Berjaya Credit. “I am excited to lead and build the NWCA business in Malaysia and I am thrilled to advise NWG’s portfolio companies across conventional markets as well as the Islamic economy in Malaysia,” Tan said. She believes tremendous opportunities could be unlocked through the partnership forged. BCorp founder and executive chairman Tan Sri Vincent Tan said NWCA’s financial expertise will further complement the group’s existing operations in a broad range of industries. “I have gotten to know NWCA over the past four years and have enjoyed watching the firm grow from strength to strength. All of us here at BCorp are delighted to be partnering with a globally orientated and principal led business as the group expands into Asia,” he said. The CEO and co-founder of NWG, Adam Sadiq, said the group is thrilled to partner with Berjaya Corp as it begins to cement its Asia strategy. “I hold Tan Sri Vincent Tan and Lena Tan in the highest regard as principals and industry pioneers. As we expand our business, Lena brings extensive experience at the intersection of the corporate and investment worlds across both developed and emerging markets which is of critical value to the firm. “Moreover, Tan Sri’s counsel as a business builder and owner, with BCorp’s reputation as a tier one enterprise, augments NWG’s global network whilst retaining local expertise,” he said. Shares of BCorp closed one sen or 4.76% lower at 20 sen, giving the group a market capitalisation of RM1.05 billion.