KUALA LUMPUR, June 15 — Berjaya Corp Bhd (BCorp) has revealed its three-year strategic plan (2021-2024) to reduce its debt to RM2.5 billion from RM5 billion at present.

Its chief executive officer Abdul Jalil Abdul Rasheed said the conglomerate’s strategic plan included streamlining its businesses and selling off non-core assets.

The plan incorporates prospective mergers and acquisitions, joint-ventures, and initial public offerings, as well as divesting assets worth RM2 billion over two years and RM5 billion over five years.

It also plans to close 60 dormant and existing companies.

"We have identified four companies so far and we will reveal and share more details in future announcements,” he said during a virtual press media briefing today.

Abdul Jalil also said that BCorp’s strategic plan would see the holding company focus on its consumer segment, while reorganising certain aspects of its retail, food and beverage, property, hotel, and services business.

"I have spent the past three months studying the businesses in detail and this strategic plan is to address the gaps we have and enhance our strengths.

"This process will optimise our resources, improve synergies and efficiency within the group, and enhance corporate governance and transparency,” he said.

He believed that with these initiatives, the group would transform into a high-performing organisation and realise the unlocked value of the business. — Bernama