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Tag: Berjaya Corp

  • 7-Eleven Malaysia mulls float

    7-Eleven Malaysia mulls float

    The 7-Eleven Malaysia business may be floated. Malaysian businessman Tan Sri Vincent Tan is considering turning over his shareholding in convenience store operator 7-Eleven to his Berjaya Corp Bhd group. Maintaining that the share price of 7-Eleven is undervalued on Bursa Malaysia, Tan claims that the business, currently valued at RM1.43 billion (US$342 million) should be worth more than US$1 billion.

    The chain has 2250 locations within the territory, and according to Tan aims to open at least another 200 stores next year.

    “We are considering maybe sell all my 46 per cent shareholdings in 7-Eleven to BCorp, then let BCorp launch a General Offer (GO), but nothing is firmed yet,” he said.

    The businessman owns 48.33 per cent of Berjaya Corp, which is valued at around RM1.35 billion (US$323 million).

  • Chemist Warehouse to launch in Malaysia

    Chemist Warehouse to launch in Malaysia

    Australian based CW Retail Asia has entered into a joint venture in Malaysia to roll out a chain of pharmacies under the Chemist Warehouse brand.

    Chemist Warehouse Berjaya Asia will be run by Morning Charm, a company just acquired by Berjaya Corp (BCorp), in partnership with Melbourne-based CW Retail Asia.

    BCorp has taken an 80 per cent equity interest in the venture for RM80,000 (US$19,520).
    “The project will enable the BCorp Group to expand and strengthen its pharmacy distribution and retail businesses under the co-brand names, as well as making its foray into the pharmacy warehousing business sector,” says BCorp.

    In Australia, CW Retail supplies goods and services to pharmacies and operates pharmacy retail chains.

    The two partners in the venture say while the initial focus will be on the Malaysian market they may open stores in other Asian countries in due course, under the Chemist Warehouse brand or another.

    The new company will also supply goods and services to Cosway Pharmacies, which will be re-branded as Berjaya My Chemist pharmacies, and to Tigas Alliance pharmacies. Chemist Warehouse Berjaya Asia and Berjaya My Chemist pharmacies are members of Tigas Alliance, a pharmacy banner group in Malaysia.

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