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Berjaya Corp Bhd founder Tan Sri Vincent Tan -- BERNAMA

KUALA LUMPUR: Berjaya Corp Bhd (BCorp) is contemplating and evaluating a major potential acquisition involving a licensed entity that is governed by Bank Negara under the Financial Services Act 2013 (FSA).

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In a statement yesterday, BCorp said section 92 of the FSA provides that “no individual shall hold more than 10% of interest in shares of a licensed person.

“To facilitate the potential acquisition of a 51% equity stake in the licensed entity by BCorp, Tan Sri Vincent Tan, the major shareholder and non-executive chairman of BCorp has undertaken to pare down his shareholding in the company in order to comply with Section 92 of the FSA.” — Bernama


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