TAN Sri Vincent Tan Chee Yioun has reduced his stake in Berjaya Corporation Bhd (BCorp) and ceased to be a substantial shareholder in six listed companies, according to filings with Bursa Malaysia.
The share sale was carried out via direct business transactions last Thursday (May 28) and saw Tan dispose of a combined 461.65 million shares in Berjaya Corp across seven tranches, comprising both direct and deemed interests for about RM115 million.
The transactions reportedly reduced his direct stake to 4.1 per cent and his deemed interest to about 11 per cent, bringing his total holding to roughly 15 per cent from about 23 per cent previously, reported The Edge.
The direct share disposals were executed through multiple nominees, including Alliancegroup Nominees (Tempatan) Sdn Bhd, MBSB Investment Nominees (Tempatan) Sdn Bhd, TA Nominees (Tempatan) Sdn Bhd, Kenanga Nominees (Tempatan) Sdn Bhd, and CGS International Nominees Malaysia (Tempatan) Sdn Bhd, among others.
The deemed interest disposals were affected through B&B Enterprise Sdn Bhd and Premier Merchandise Sdn Bhd.
Tan lost his "substantial shareholder" status in six companies because his indirect ownership through Berjaya Corp fell below 5%, even though Berjaya Corp itself still holds significant stakes in those companies.
He ceased to be a substantial shareholder in Salcon Bhd (KL: SALCON), REDtone Digital Bhd (KL: REDTONE), Berjaya Property Bhd (KL: BPROP), Atlan Holdings Bhd (KL: ATLAN), Sports Toto Bhd (KL: SPTOTO), and Theta Edge Bhd (KL: THETA), according to separate filings with Bursa.
However, Berjaya Corp remains a substantial shareholder in the six companies, as the cessations reflect a change in Tan’s personal deemed interest rather than any disposal by Berjaya Corp of its holdings in these entities.
Tan continues to be a substantial shareholder in 7-Eleven Malaysia Holdings Bhd (KL: SEM), Berjaya Food Bhd (KL: BJFOOD), and Berjaya Assets Bhd (KL: BJASSET), though his stakes in those companies were also reduced.
He owns a 15.397% direct and 5.537% indirect interest in 7-Eleven Malaysia, a 5.007% direct stake and 1.26% indirect interest in Berjaya Food, and a 14.552% direct interest and 13.644% indirect interest in Berjaya Assets.
Shares of Berjaya Corp ended flat at 24.5 sen on Wednesday, valuing the conglomerate at RM1.49 billion. Year to date, its share price has declined by 14%. - June 4, 2026
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