BCorp divests stake non-core assets to focus on higher growth opportunities

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Berjaya Corporation (BCorp) has divested its 30% equity interest in Razer Fintech to Razer Midas for a cash consideration of approximately RM223.89 million. Berjaya Fintech owned a 49% stake in Razer Fintech with the remaining
51% held by Razer Midas. Following the disposal, BFinTech now holds a 19% stake in the company.

The Group has also divested its 70% stake in Berjaya China Motor for a cash consideration of approximately RM13.279 million and disposed of its printing business, Graphic Press Group for approximately RM 26.1 million. BCorp CEO Jalil Rasheed (pictured) explained that the divestments of BCorp’s interests in Razer Fintech and Berjaya China Motor, as well as the closure of Graphic Press, is part of the Group’s transformation strategy to streamline its operations, divest non-core assets, and focus on higher growth opportunities across its core businesses to enhance shareholder value.

"And in the case of Razer, it was especially appealing as we had a significant return on our investment in a relatively short time," he added. In June this year, BCorp unveiled a three-year strategic plan to move the Group forward into an institutionalised high performing consumer group with focused core business segments. The process is aimed at optimising resources, improving synergies and efficiency within the Group, and enhancing corporate governance and transparency.

The five business segments are retail, F&B, property, hospitality, and services. The Group said previously that the three-year strategic plan will anchor around five key pillars: profitability, governance, process, people, and digital to drive operational efficiency and execution. BCorp hopes to achieve the five key pillars through four key initiatives: streamline, improve, restructure and establish.

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