Thursday, March 15, 2012

Bjcorp ... Mar12

A new chapter has opened in Berjaya Corp Bhd (BCorp) under the leadership of its chief executive officer and interim chairman Datuk Robin Tan Yeong Ching, with injection of fresh ideas and expansion drive to propel growth.

Tan, whose father is BCorp founder Tan Sri Vincent Tan, plans to take the group's consumer marketing business and infrastructure division to greater heights.

BCorp has presence in over 15 countries with businesses in consumer marketing; property investment and development; hotel and resort operation; gaming; stockbroking and asset management; as well as food and beverage.

BCorp has interest in automobile; operation of sanitary landfill; media and publishing; trading of lumber-panel and building products; as well as garment and apparel manufacturing.

There is potential to expand significantly the group's consumer marketing business, especially its multi-level direct selling group Cosway Corp Ltd, and its infrastructure division.

Cosway, which is listed on the Hong Kong Exchange with annual revenue in excess of HK$6.23 billion (RM2.4 billion), operates in 15 countries.

The company carries a range of products like health and nutrition, slimming, personal care, skin care, cosmetics, perfumes, household, food and beverage, water filtration systems and kitchenware.

For infrastructure, BCorp is identifying potential jobs like water-related projects as well as the construction and operation of sanitary landfill in Asia, targeting China and the Philippines.

BCorp currently has 85 per cent stake in DSG Holdings Ltd, which holds two potable water supply companies and one wastewater company in China.

The group has sanitary landfill projects in Bukit Tagar, Selangor, and Foshan, China.

The group's net profit fell 73.47 per cent to RM22.95 million for the second quarter ended October 31 2011, compared with a year ago after revenue dropped due to lower property sales and the deconsolidation of the financial results of Berjaya Sompo Insurance Bhd.

The group's revenue was lower at RM1.69 billion compared with RM1.71 billion previously because of the deconsolidation of Berjaya Sompo's financial results from the group revenue, following the disposal of a 40 per cent stake in the latter during the first quarter. The property development business also registered lower sales.

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