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The founder of Berjaya Corporation Bhd (BCorp), Tan Sri Vincent Tan, 71, has resigned as Non-Independent Non-Executive Chairman from 1 March 2023.
He will continue in an advisory role to guide the Board of Directors and support the group’s continued growth.
The new line-up of Berjaya Corp’s all-female Board of Directors sees the daughter of Johor Sultan, Tunku Tun Aminah Sultan Ibrahim Ismail as the Non-Independent Non-Executive Chairman replacing Tan.
Additionally, the Co-Chief Executive Officers/Executive Steering Committees consist of Vivienne Cheng Chi Fan and Nerine Tan Sheik Ping.
The two Executive Directors are Norlela Baharudin and Chryseis Tan Sheik Ling, the daughter of Tan.
The Independent Non-Executive Directors are Dr Jayanti Naidu G Danasamy, Penelope Gan Paik Ling and Datuk Anne Eu, according to BCorp’s statement today (2 March).
— Mimi Anuary (@AnuaryMimi) July 5, 2022
One Of Malaysia’s Largest Conglomerate
BCorp is a diversified conglomerate based in Malaysia with businesses in various industries.
They include property development, gaming and lottery management, hotels and resorts, retail, food and beverage, and telecommunications.
BCorp has been in operation since 1984 and has shown strong growth.
Some of the notable brands under BCorp include:
- Berjaya Hotels & Resorts – A hospitality group with hotels and resorts in Malaysia, the Philippines, Sri Lanka, Seychelles, and the United Kingdom.
- Starbucks Coffee – A well-known coffee chain with outlets in Malaysia, Singapore, and Brunei, under a license agreement with Starbucks Corporation.
- Kenny Rogers Roasters – A chain of chicken restaurants with outlets in Malaysia, Indonesia, and the Philippines.
- 7-Eleven – A convenience store chain with outlets in Malaysia under a license agreement with 7-Eleven Inc.
- Berjaya Sports Toto – A lottery and gaming company in Malaysia.
- Berjaya Property – A property development company with projects in Malaysia, Vietnam, and the United Kingdom.
- Berjaya Food – A food and beverage company with brands such as Chatime, Krispy Kreme, and Jollibean.
- Berjaya Times Square – A shopping mall and hotel in Kuala Lumpur, Malaysia.
Paris Baguette dibawa masuk ke Malaysia oleh Berjaya Food (BFood), franchisee terbesar Malaysia yang ada track record manage big brands:
Starbucks, Krispy Kreme, Kenny Rogers.
BFood di siarharga di Bursa Malaysia dan dimiliki oleh Tan Sri Vincent Tan. pic.twitter.com/ABdyt5IGFS
— Azharuddin (@azha_nordin) January 22, 2023
In terms of revenue, it has consistently been one of the largest companies in Malaysia.
As of the financial year ended 30 April 2021, the group’s revenue was RM5.83 billion, and its profit after tax was RM 295.33 million.
Ups And Downs
However, like any business, BCorp has faced its share of challenges and setbacks, such as the impact of the COVID-19 pandemic on its businesses in the tourism and hospitality industry.
#NSTbusiness Berjaya Corp Bhd (#BCorp) registered its sixth consecutive quarterly net loss due to the impact of the #lockdown on its gaming operation under Sports Toto Malaysia Sdn Bhd.https://t.co/0mWjrdln7z
— New Straits Times (@NST_Online) November 30, 2021
Additionally, the group has had to deal with regulatory changes in some of its industries, such as the introduction of a sugar tax in Malaysia, affecting its beverage businesses.
BCorp has been a successful company with a strong presence in Malaysia and other countries.
Its success can be attributed to its diversified business model, strategic investments, and experienced management team.