BAssets disposes 0.44% equity interest in BCorp for RM5.64mil
KUALA LUMPUR: Berjaya Assets Bhd’s (BAssets) wholly-owned subsidiary, Berjaya Bright Sdn Bhd (BBright) has disposed of a total of 24.50 million ordinary shares representing about 0.44% equity interest in Berjaya Corp Bhd (BCorp) for RM5.64mil cash.
Following the disposal, BAssets and its subsidiaries now hold a total of 276.45 million BCorp shares, or 4.99% equity interest in BCorp.,
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In a filing with Bursa Malaysia, BAssets said the cash consideration for the disposal was arrived at after taking into consideration the prevailing market prices of the BCorp shares at the time of disposal.
“The cash proceeds from the disposal will be utilised as working capital and repayment of borrowings of the BAssets group. The disposal enabled the BAssets group to realise part of its investment in BCorp,” it said.
“The carrying amount of the BCorp shares pursuant to the disposal in the books of BBright as at June 30, 2022 is about 23.5 sen per BCorp share, incurred since 2007,” it added.