Local Berjaya invests in Malaysian affiliates

Published January 3, 2019, 12:00 AM

by manilabulletin_admin

By James A. Loyola

Berjaya Philippines, Inc., a Malaysian-controlled holding firm, has acquired P47.2 million worth of shares in its publicly-listed Malaysian affiliates as part of its investment activities.

In a disclosure to the Philippine Stock Exchange, the firm said it has acquired 2.3 million shares of Berjaya Food Berhad (BFood) from the open market of Bursa Malaysia Securities Berhad from December 14, 2018 to December 31, 2018.

The shares were bought at an average of Malaysian Ringgit (RM) 1.34 or P16.98 per share for a total of RM 3.09 million or P39.04 million.

The 2.3 million shares are equivalent to a 0.63 percent stake in BFood. Following the acquisitions in 2018, Berjaya Philippines now holds a total of 4.30 million BFood shares representing 1.18 percent equity in BFood.

Berjaya Philippines had acquired a total of 2.8 million BFood shares representing 0.77 percent equity interest in BFood from February 23, 2018 to December 31, 2018.

BFood’s principal activity is investment holding. The principal activities of BFood’s subsidiaries are the development and operation of restaurants, café chains, and retail outlets in Malaysia and other Southeast Asian countries.

Berjaya Philippines has also acquired 2.3 million shares of Berjaya Assets Berhad (BAssets) from the open market of Bursa Malaysia Securities Berhad from December 14, 2018 to 31 December 31, 2018.

 
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