Corporate plans are Vincent Tan’s personal ideas and strategies

PETALING JAYA: Berjaya Corp Bhd (BCorp) has clarified that the corporate plans announced by its founder and executive chairman Tan Sri Vincent Tan Chee Yioun are his personal ideas and strategies.

In a filing with Bursa Malaysia, the group said that its board of directors is not aware of and has not deliberated on any of the plans or proposals mentioned, including the delisting of 7-Eleven Malaysia Holdings Bhd and Berjaya Land Bhd (BLand).

On Wednesday, Tan, who is the deemed controlling major shareholder of BCorp, also announced the potential sale of Four Seasons Hotel and Hotel Residences in Kyoto, Japan.

However BCorp clarified that it is still in negotiations with potential buyers on the possible sale of the hotel in Japan and have not entered into any definitive agreement.

Meanwhile, BLand reported a pre-tax profit of RM76.44 million for the second quarter ended Oct 31 compared with a pre-tax loss of RM95.91 million a year ago mainly due to the impairment of balance sales proceeds from the sale of Great Mall of China (GMOC) project and loss arising from partial disposal of interest in an associated company reported a year ago.

Revenue for the quarter fell 6.52% to RM1.51 billion from RM1.61 billion.

For the six months ended Oct 31, pre-tax profit soared more than 54 times to RM198.1 million from RM3.67 million a year ago mainly thanks to the three-month tax holiday prior to the implementation of the sales and services tax, which mitigated the impact of higher prize payout of Sports Toto Malaysia, and favourable effect of foreign exchange translation.

Revenue for the period fell 2.66% to RM3.13 billion from RM3.22 billion.

BLand expects the number forecast operation business to be satisfactory and that it will continue to maintain its market share for the remaining quarters of the financial year ending April 30, 2019.

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