<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Dec 13): Berjaya Sports Toto Bhd’s (BJToto) subsidiary, Berjaya Philippines Inc, plans to increase its stake in luxury vehicle manufacturer Bentley Motors Ltd’s HR Owen Plc to 98.38% from 72.07%.</p></div>

<div class=newsTextDataWrapInner><p>The Philippines Stock Exchange-listed company will pay £14.8 million for the 26.31% stake, said BJToto in a filing to Bursa Malaysia.<br />
&nbsp;<br />
Berjaya Philippines, which is owned 88.26% by BJToto, will pay 10% of the price&nbsp; upon execution of the share sale agreement, and the remaining 90% in six months.</p></div>

<div class=newsTextDataWrapInner><p>Registered in England and Wales, HR Owen operates a number of franchises in the specialist car segment such as Aston Martin, Audi, Bentley, BMW, Bugatti, Ferrari, Lamborghini, Lotus, Maserati, Mini, Pagani and Rolls-Royce.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Berjaya Philippines has gradually been raising its stake in the company over the years since its first share acquisition in October 2013 when it bought a 29.81% stake for £23.4 million.</p></div>

<div class=newsTextDataWrapInner><p>The latest purchase is expected to be completed by July 8, 2017</p></div>

<div class=newsTextDataWrapInner><p>BJToto’s share price closed unchanged at RM3.10 for a market capitalisation of RM4.2 billion.</p></div>


KUALA LUMPUR (Dec 13): Berjaya Sports Toto Bhd’s (BJToto) subsidiary, Berjaya Philippines Inc, plans to increase its stake in luxury vehicle manufacturer Bentley Motors Ltd’s HR Owen Plc to 98.38% from 72.07%.

The Philippines Stock Exchange-listed company will pay £14.8 million for the ...

Berjaya Philippines ups stake in luxury car dealer HR Owen

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<p>China's Ping An Insurance Group Co, the biggest Asian investor in HSBC did not support reappointing chief executive Noel Quinn as a director to the banks board at the its shareholder meeting, a source familiar with the matter told <i>Reuters</i> on Saturday, as the investor voted against such a move.</p>


<p>In the May 6 issues of <i>City &amp; Country</i>, the cover story features Eastern &amp; Oriental Bhd’s (E&amp;O) Andaman Island in Penang. The reclaimed island project is taking shape and will come in two phases. Phase one covers 253 acres, while phase two will cover 507 acres. Reclamation work for phase one started in 2015 and was completed in December 2019. Work on phase two is ongoing, with the entire reclamation exercise set to be completed by December 2028.</p>


<p>Labour wins in the UK’s two biggest cities completed a string of local election successes by opposition leader Keir Starmer that showed his party firmly on course for victory at a general election later this year.</p>


<p>Mathew Ngau Jau is not a fan of hectic city life, though there is certainly something to smile about as he visits Kuala Lumpur this week for a very special recognition at the 19th Boh Cameronian Arts Awards (BCAA).</p>


<p>Warren Buffett said he expects the US government to increase taxes to tackle widening fiscal deficits rather than reduce spending.</p>


<p>US Treasury Secretary Janet Yellen acknowledged sharp moves in the value of the yen this week, even as she declined to say whether Japan had intervened to support the currency.</p>


<p>Paytm appointed new business executives as the troubled fintech firm’s chief operating officer resigned.</p>
