Vincent Tan plans to list U Mobile by 2020, to delist Berjaya Land

KUALA LUMPUR: Berjaya Corp Bhd’s (BCorp) founder and executive chairman Tan Sri Vincent Tan Chee Yioun (pix) today announced a slew of corporate exercises, including the potential listing of U Mobile Sdn Bhd and the delisting of Berjaya Land Bhd (BLand) from Bursa Malaysia.

Speaking at a press conference, Tan said the listing of U Mobile will take place either in 2019 or latest by 2020.

The group is also weighing the possibility of delisting BLand on Bursa Malaysia, which will then be listed on the Singapore Stock Exchange.

As for Berjaya Media Bhd, Tan said a profitable private company will be injected as part of its regularisation plan to be uplifted from the Practice Note 17 (PN17) status before considering privatisation exercise.

Tan expressed his optimism on BCorp’s business outlook in the coming year.

“We have some good positive things going on. For example, we have the environmental business, our sanitary landfill (for which) we are making headway overseas.”

“We are constructing one in the Philippines now and are going to be building several there. We are also looking at Vietnam and a few other countries,” he said, adding that the environmental business holds bright prospects for the group.

Tan also said that he is planning to sell a prime asset – the Four Seasons Hotel in Kyoto, Japan, which could bring in a gain of disposal of US$350-400 million if the deal materialises.

“I think in the next 60 days, we are going to conclude that. I think we will do very well in the investment, we will make a big profit. This is the plan (but it is) subject to confirmation.”

Meanwhile, BCorp, which is working with the Pahang state government via a joint venture to develop an airport on Tioman Island, is hoping to secure approvals from the government in the next few months.

Terming this as a viable business, Tan said this will also transform the island’s tourism scene while also bringing in more investments.

On 7-Eleven Malaysia Holdings Bhd, the group is looking to expand its chain of 7-Eleven stores by at least 200 new stores next year as well as increasing the number of franchisees.

7-Eleven Malaysia Sdn Bhd today entered into a memorandum of agreement with Pertubuhan Tindakan Pejuang Wanita Dalam Sosial, Ekonomi, Rumahtangga Dan Ilmu (Tiangseri Malaysia) to provide an opportunity to those interested to be franchisees to enter the ecosystem.

Tiangseri is commissioned to recruit and recommend up to 50 potential franchisees to 7-Eleven Malaysia in the next 12 months.

Commenting on the gaming industry, Tan noted that sales of Berjaya Sports Toto Bhd has increased and will double if the illegal bookies are weeded out.

He added that being the sole operator in Vietnam, the long term prospect for its gaming and lottery unit in the country is good.

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