Berjaya Corporation Berhad(MYX:3395;[2]formerly known asBerjaya Group Berhad,Inter-Pacific Industrial Group BerhadandRaleigh Berhad) is a Malaysian-based corporation which controls a wide array of businesses, including consumermarketing,property developmentandinvestment,as well as hotels, resorts and recreation development. It also specialises in gaming and lottery management,food and beverage,motor trading and distribution, investment onenvironmental servicesand clean technology, andtelecommunicationandinformation technology-related services and products.
Formerly | Berjaya Group Berhad |
---|---|
Company type | Public limited company |
MYX:3395 | |
ISIN | MYL3395OO000 |
Industry | Conglomerate |
Founded | 1984 |
Founder | Vincent Tan |
Headquarters | Level 12(East Wing), Berjaya Times Square,Kuala Lumpur,Malaysia |
Area served | Southeast Asia |
Key people | |
Services | Consumer marketing, property development and investment, hotels and resorts and recreation development, gaming and lottery management, food and beverage, environmental services andclean technology,motor trading and distribution, telecommunications and information technology-related services and products |
Revenue | |
Total assets | |
Total equity | |
Number of employees | 16,000 |
Subsidiaries |
|
Website | berjaya |
The corporation is founded by local businessmanVincent Tan.
History
editBerjaya was previously known as Berjaya Kawat Berhad founded by Broken Hill Proprietary Ltd, Australia and National Iron & Steel Mills, Singapore. In 1984,Vincent Tantook a stake in Berjaya Industrial Berhad. In 1985, Tan bought 51% ofSports Totofrom the Malaysian government. He then injected Sports Toto into Berjaya, swapping his shares in Sports Toto for a controlling stake in Berjaya.[3]The shareholding change also resulted in a major change in the business, direction and the dynamic growth of a diversified conglomerate under the flagship of Berjaya Corporation Berhad.
In 1988, Tan swapped his shares in Berjaya for control of Raleigh Bhd. (originally a bicycle manufacturer incorporated in 1967 and gained official listing onBursa Malaysiain 1969), which was then renamed Inter-Pacific and turned into Berjaya's holding company.[4]It later became known as Reka Pacific Berhad. Under his leadership, Berjaya's pretax profit rose from RM 700,000 in 1984 to RM 70 million in 1989,[3]and RM 342 million in 1998,[5]and exceeding RM 1 billion in some years in the next two decades.[6][7]
Berjaya Corporation Berhad assumed the listing status of Berjaya Group Berhad on the Main Board of Bursa Securities upon the completion of the group restructuring exercise in 2005 and the listing of new shares the year after.[8][9]
Below are the listed subsidiaries under Berjaya Corporation Berhad:
- Berjaya Land Berhad
- Berjaya Sports Toto Berhad
- Berjaya Food Berhad (including Pappa Rich brand)
- REDtone Digital Berhad (formerly known as REDtone International Berhad)
- Berjaya Philippines Inc.
- Bermaz Auto Berhad
Other assets include:
- Ownership ofCardiff City Football Club
- Ownership ofFK Sarajevo
- Co-Ownership and directorship ofLos Angeles FC
- Ownership ofK.V. Kortrijk
Corporate social responsibility
editThe Better Malaysia Foundation (BMF) is a subsidiary of thecorporate social responsibilityprogram developed by Berjaya. The Chairman of Berjaya, Vincent Tan is also the chairman of BMF.[10]
In 2013, in partnership with SOLS 24/7, BMF launched Project 100 aimed at establishing 100 community centres where Malaysians would be able to have access to free education.[11]
In 2016, the foundation donated RM1 million to over 39 charities including a RM 50,000 donation to the Generasiku Sayang Negri Selangor organisation, and the Malaysian Sikh Union, which received RM35,000.[12]Tan also donated RM 25.6 million to the BMF via the Berjaya CSR program, earmarked for education and skills training, as well as community-based projects.[13]
In 2017, the BMF donated RM500,000 to victims of the Penang flood.[14]
Each year, the foundation presents the Better Malaysia Foundation Personality of the Year Award. Past winners include Madenjit Singh, founder ofScience of Life Studies 24/7in 2012,[15]Jane Goodall in 2014,[16]and Dharma Master Cheng Yen for humanitarian work in Malaysia through the Tzu Chi Foundation.[17]
Another corporate social responsibility program initiated by Berjaya isBerjaya Cares Foundation,the official charitable arm of the corporation that focuses in empowering individuals and communities in many differing aspects.[18]
Some of the critics include the Berjaya Hospitality Industry, which owns renowned brands like Berjaya Hotels, Jollibean and Joybean, is under scrutiny for alleged practices compromising animal welfare and food safety. Leading this charge is UK-based Equitas, launching a campaign to inform Berjaya customers of these concerns.[19]Of particular concern is Berjaya's continued use of battery cage eggs, a practice criticized worldwide for its cruelty and food safety risks including in theDirective 1999/74/EC,as hens endure deplorable conditions, feces accumulate near the eggs, and deceased hens often decompose near those still laying eggs for human consumption. Amid a global shift towards more humane practices in the hospitality industry, Berjaya faces increasing pressure to adopt a timeline for exclusively using cage-free eggs in all its operations.
See also
editReferences
edit- ^"BCorp appoints first all-woman executive board; Vincent Tan steps down".Retrieved 22 November 2024.
- ^"Bursa Malaysia: Berjaya Corporation Berhad".Bursa Malaysia.Retrieved3 November2014.
- ^abMarchand, Christopher (31 August 1989). "The burger kingdom".Far Eastern Economic Review.p. 63.
- ^Marchand, Christopher (31 August 1989). "Against the grain".Far Eastern Economic Review.pp. 62–63.
- ^"1998 Annual Report"(PDF).Berjaya.
- ^"2008 Annual Report"(PDF).Berjaya.
- ^"Annual Report 2015"(PDF).Berjaya.
- ^"Bursa Malaysia: Announcement".Bursa Malaysia.Archived fromthe originalon 3 November 2014.Retrieved3 November2014.
- ^"TheStar: Berjaya group close to completing revamp".The Star (Malaysia).27 June 2005.Retrieved3 November2014.
- ^"Berjaya Corporation Berhad - Tan Sri Vincent Tan's Other Businesses".
- ^"NGO calls for passionate individuals who want to help the poor learn English".The Star.Retrieved22 October2018.
- ^"BMF donates RM1m to 39 charitable organisations".The Sun.Retrieved22 October2018.
- ^"Vincent Tan donates RM25.6mil via his charity foundation's CSR programme".The Star.Retrieved22 October2018.
- ^"Vincent Tan donates RM500,000 to help out Penang flood victims".The Star.Retrieved22 October2018.
- ^"Berjaya Corporation Berhad".Archived fromthe originalon 19 September 2017.Retrieved22 October2018.
- ^"The Jane Goodall Institute"(PDF).
-"Goodall: Stand firm in your beliefs".The Sun.Retrieved22 October2018. - ^"Tzu Chi's Founder Awarded".Tzu Chi USA. Archived fromthe originalon 22 October 2018.Retrieved22 October2018.
- ^"Berjaya Cares Foundation".Berjaya Corporation Bhd.Retrieved6 November2024.
- ^"Filth and animal cruelty from Berjaya".Berjaya Cruelty.Retrieved4 September2023.