New Appointments At Berjaya Corporation Berhad

On 16 March 2021, Berjaya Corporation Berhad (“BCorp”) announced that Dato’ Sri Robin Tan Yeong Ching has been promoted and re-designated as Executive Deputy Chairman of BCorp. Dato’ Sri Robin Tan will relinquish his position as Group CEO.

BCorp also announced the appointment of Abdul Jalil bin Abdul Rasheed as the new Group CEO of BCorp, effective 16 March 2021. Jalil Rasheed was formerly the President & Group CEO of Permodalan Nasional Berhad (PNB), Malaysia’s national unit trust manager. Jalil brings with him 18 years of investment and business leadership experience, having worked in the UK, USA, Malaysia & Singapore with the global investment firms, Aberdeen Standard Investments and Invesco Limited. Besides investment experience, Jalil also brings with him many years of experience in working with large corporations and Boards on corporate governance and instilling operational effectiveness and excellence.

Going forward, the new Group CEO will be working together with BCorp Executive Chairman Tan Sri Dato’ Seri Vincent Tan and Dato’ Sri Robin Tan as an Executive Committee, who together with the contributions of the Board members will be involved in all strategic decision making and planning the future business direction of the BCorp Group. The new appointments were made to transform BCorp into an institutionalized corporation, managed by professionals. Jalil’s mandate will be to re-look at BCorp’s corporate structure, optimize financial and human resources, improve synergies and efficiency, enhance corporate governance and transparency, streamline the various Group businesses to create and enhance shareholder value and to transform BCorp into a high performing organisation.

Jalil Rasheed said, “I’m delighted to be joining BCorp as Group CEO, after several months of discussion with Tan Sri Vincent Tan. We both agree that the Group is very undervalued, and has many good assets that can be optimized and realized to enhance value for shareholders. I’m personally looking forward to working with the various businesses and my new colleagues to bring Tan Sri’s future vision for his Berjaya group to fruition. It’s a privilege and honour to have been given such a huge responsibility as the first non-family member to run the Group, a statement of intent of the changes we will see within the Group in the near future. I would like to thank Dato’ Sri Robin Tan for making my task that much easier with the great management team he has put in place and the organization he has led. I’m excited by this opportunity and look forward to meeting everybody and working closely with Dato’ Sri Robin Tan to realise this transformative process for the Berjaya Group.”

Dato’ Sri Robin Tan commented, “I wish to welcome Jalil as the new Group CEO and look forward to working with him. Together with Tan Sri Vincent, our Executive Chairman, we will work as a close-knit team to transform and bring the Berjaya Corporation Group to the next level. With Jalil’s extensive experience and network in the investment field, we will also be able to improve on our investor relations and corporate communications role with the business and investing community, and this will enhance shareholder value for all our stakeholders.”

Tan Sri Vincent Tan also said, “I’m happy that Jalil has decided to join us despite receiving many job offers, both locally and abroad. He is a world class Malaysian talent that we are delighted to have secured. He is a high calibre individual of integrity and principles, values he will undoubtedly impart to the Group. After many decades of running this Group, having endured and survived several global financial crises over the years and with the latest Covid-19 pandemic and economic downturn which has not spared the Berjaya Group as well, both Robin and I realized and decided it’s time that we streamline the way the organization is managed, relook at our various businesses, our strengths and shortcomings and how to make sure going forward that we are future proofed to meet the challenges of any external shocks. I am looking forward to working closely with Robin and Jalil to achieve this objective and to put the Group on a stronger footing for the future.”