BCorp Boss Vincent Tan Trims Indirect Stake in BLand

KUALA LUMPUR (April 13): Berjaya Corp Bhd’s boss Tan Sri Vincent Tan has had his indirect interest in Berjaya Land Bhd trimmed, after companies under him sold some 12.8 million shares in BLand in the last few days.

In a bourse filing today, BLand said Tan’s deemed interest were trimmed to 4.15 billion shares or 84.35%, after Berjaya Sompo Insurance Bhd sold 2.08 million shares in BLand through the open market, while another 10.8 million shares were disposed of by Berjaya Hills Resort Bhd via a direct deal.

The prices at which the shares crossed were not revealed.

Meanwhile, the executive chairman also has direct control over 95.53 million shares in BLand, representing a 1.94% stake.

BLand shares settled at 34.5 sen today, down 3.5 sen or 9.21%, giving it a market capitalisation of RM1.7 billion. BCorp shares, on the other hand, closed 6.98% lower at 40 sen, giving the group a market capitalisation of RM2.1 billion.

Source: The Edge