KUALA LUMPUR (Feb 6): Berjaya Corporation Bhd has announced a leadership restructuring, confirming that Nerine Tan Sheik Ping will now serve as the group’s sole chief executive officer with immediate effect. She previously held the position jointly.
In the same announcement, the conglomerate confirmed that joint CEO Vivienne Cheng Chi Fan has stepped down from her role, marking a transition in the company’s senior management structure. Sheik Ping is the daughter of Berjaya Corp founder and major shareholder Tan Sri Vincent Tan Chee Yioun.
Separately, the group disclosed that Berjaya True Ascend Sdn Bhd has emerged as a substantial shareholder after acquiring 364 million shares, representing a 6.241% stake in the company through a direct business transaction completed at the end of January.
Berjaya True Ascend is a private investment vehicle linked to Vincent Tan. Although the transaction price was not officially disclosed, estimates based on market pricing suggest the acquisition could be valued at roughly RM98 million, assuming an approximate share price of 27 sen.
Following the purchase, Vincent Tan’s overall interest in Berjaya Corp has increased to about 27.1%, comprising both direct and indirect holdings.
At the latest market close, Berjaya Corp’s shares ended slightly lower at 26.5 sen, giving the group a market capitalisation of approximately RM1.58 billion.
Market context
Corporate developments involving major Malaysian conglomerates are closely watched by investors, as they often influence sentiment across related sectors, including commercial property in KL and mixed-use developments in the Klang Valley. Leadership changes and capital restructuring within diversified groups can also have downstream effects on segments such as office space in Bukit Jalil, industrial land in Selangor, factories in Puchong, and industrial property in the Subang area, where corporate expansion, logistics growth, and business relocation continue to shape demand for real estate.
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