Berjaya Land Berhad ("BLand") was incorporated in 1990 to implement the Restructuring Scheme
undertaken by Sports Toto Berhad ("SPToto") whereby the entire paid-up capital of SPToto was
acquired by BLand. Simultaneously, BLand made major acquisitions of various property and leisure
activities which were funded via a Rights and Special Issue.
SPToto was incorporated in 1969 by the Malaysian Government for the purpose of running Toto betting under Section 5 of the Pool Betting Act, 1967. It was privatised in 1985 when its Chief Executive Officer, Tan Sri Dato’ Seri Vincent Tan Chee Yioun, through his private company acquired 70% of the paid-up capital of SPToto. SPToto was listed on Kuala Lumpur Stock Exchange in July 1987.
Subsequently, in November 1987, RekaPacific (formerly known as Berjaya Industrial Berhad) ("RekaPacific") completed a general offer to SPToto which resulted in SPToto becoming a subsidiary of RekaPacific.
On 11 October 1996, Berjaya Group Berhad ("BGroup") completed the purchase of Teras Mewah Sdn Bhd ("TMSB"), a wholly-owned subsidiary company of RekaPacific.
On 28 August 1996, TMSB completed the purchase of the entire shareholding in BLand from RekaPacific comprising approximately 247.5 million ordinary shared, 49.8 million warrants and RM82.8 million Irredeemable Convertible Unsecured Loan Stocks for a total consideration of approximately RM931.1 million. As a result, BLand became a direct subsidiary of BGroup, which in turn is a wholly-owned subsidiary of Berjaya Corporation Berhad ("BCorp").
The Group's core activities: