KUALA LUMPUR (Feb 9): BERJAYA LAND BHD [] (B-Land) recorded a net loss of about RM8.05 million at group level after it disposed of 18.301 million BERJAYA SPORTS TOTO BHD [] shares for RM79.61 million.
B-Land said the shares were disposed of on Thursday at an average selling price of RM4.35 and the shares represented about 1.37% of BToto.
“The disposed shares which were purchased since 1992, have a total carrying value of about RM87.66 million in the books of B-Land group. The net proceeds from the disposals will be utilised as working capital and repayment of bank borrowings of the B-Land group,” it said.
B-Land said after the disposals of the 18.301 million shares, the company and its unlisted subsidiaries owned 533.607 million BToto shares or 40.00%.
BERJAYA CORPORATION BHD [] and its unlisted subsidiaries also hold 132.439 million BToto shares representing 9.93%.
“With the disposals, the entire BCorp Group (including the B-Land group) has a total of 666.046 million shares representing approximately 49.93% equity interest in BToto. BToto is deemed a subsidiary of B-Land, which in turn is a listed subsidiary of BCorp. BCorp remains the ultimate holding company of BToto,” it said.
B-Land said the shares were disposed of on Thursday at an average selling price of RM4.35 and the shares represented about 1.37% of BToto.
“The disposed shares which were purchased since 1992, have a total carrying value of about RM87.66 million in the books of B-Land group. The net proceeds from the disposals will be utilised as working capital and repayment of bank borrowings of the B-Land group,” it said.
B-Land said after the disposals of the 18.301 million shares, the company and its unlisted subsidiaries owned 533.607 million BToto shares or 40.00%.
BERJAYA CORPORATION BHD [] and its unlisted subsidiaries also hold 132.439 million BToto shares representing 9.93%.
“With the disposals, the entire BCorp Group (including the B-Land group) has a total of 666.046 million shares representing approximately 49.93% equity interest in BToto. BToto is deemed a subsidiary of B-Land, which in turn is a listed subsidiary of BCorp. BCorp remains the ultimate holding company of BToto,” it said.
