Berjaya Corp CEO acquires 1.4% stake in group

PETALING JAYA: Berjaya Corp Bhd’s (BCorp) newly appointed CEO Abdul Jalil Abdul Rasheed has acquired 70 million BCorp shares, priced at 28 sen per share, amounting to 1.4% equity.

In a statement, the group said the acquisition of an equity stake in the group signifies good corporate governance, whereby as group CEO and minority shareholder, he would act in the best interests of the company and its various stakeholders, charting the best path to transform BCorp into a high-performing organisation and to create and enhance value for its shareholders.

Abdul Jalil said he took on the CEO role to undertake a transformation of BCorp.

“In my years of experience, projects of this magnitude are best achieved when the leader is well incentivised and aligned with all minority shareholders. As such, being a shareholder and CEO will allow me to execute changes with the right incentive in place. It is also a vote of confidence in the company, and addresses the seriousness of this institutionalisation phase we are undertaking.”

Abdul Jalil was appointed as group CEO on March 16, and will work with BCorp executive chairman Tan Sri Vincent Tan and executive deputy chairman Datuk Sri Robin Tan, as an executive committee who, together with the contributions of the board members, will be involved in all strategic decision-making and planning of the future business direction of the BCorp group of companies.

His mandate will be to relook BCorp’s corporate structure, optimise financial and human resources, improve synergies and efficiency, enhance corporate governance and transparency, streamline the various group businesses to create and enhance shareholder value, and to transform BCorp into a high-performing organisation.