,The conglomerate, founded by billionaire Tan Sri Vincent Tan, (pic) hit limit up when it touched 30 sen during afternoon trade yesterday.
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PETALING JAYA: Berjaya Corp Bhd’s (BCorp’s) share price soared to its highest in 20 months as its recent change in leadership continued to generate interest among investors.
The conglomerate, founded by Tan Sri Vincent Tan, hit limit up when it touched 30 sen during afternoon trade yesterday.
Investors quickly took profit and the counter ended the day at 26.5 sen, which was still an increase of four sen or 17.78% from its previous close.
It was the most actively traded stock on Bursa Malaysia yesterday with 417.69 million shares exchanging hands, an all time high for BCorp.
Disregarding warrants, the counter was also the third top gainer in terms of percentage yesterday.
On March 16, the group appointed former Permodalan Nasional Bhd chief executive officer Jalil Rasheed (pic brloe) as its CEO.
The 38-year-old is the first non-family member of BCorp, where Tan, who is the executive chairman, holds a 53.03% stake through direct and indirect interests.
Jalil took over the CEO role from Tan’s eldest son Datuk Seri Robin Tan, who has been redesignated as the group’s deputy chairman.
The group had said that Jalil’s 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.
Since the announcement, BCorp’s share price has risen 47.22% until yesterday.
On March 18, the group also announced that it has entered into a partnership with New World Capital Advisors Ltd (NWCA), a leading London-headquartered merchant banking and investment company to establish New World Capital Advisors Sdn Bhd (NWCA Malaysia).
NWCA Malaysia will focus on providing advisory services including mergers and acquisitions, strategy and operations advice to diversified businesses, corporations, and institutional investors in Malaysia as well as neighboring countries where they have a presence.NWCA is the advisory and merchant banking division of New World Group, which has over US$2.5bil of group assets under management and acts as a fiduciary to institutional and sovereign capital across the asset management, technology and
venture capital verticals.