Berjaya Group has convened with its board on the proposal to change the name of Berjaya Sports Toto the gaming company under the group to Sports Toto Berhad.
The group said that it had considered all aspects of the proposed change of name and is of the opinion that the change of name will enable the company to better reflect its corporate identity and core business at the same time enhance its brand image.
Although this has yet to be approved by Bursa, the group says it will amend the constitution and that all references wherever the name of “Berjaya Sports Toto Berhad” appears, shall be deleted and substituted with “Sports Toto Berhad”.
While the name change seems not so significant, there are speculations that the group could be looking to sell the business as part of the new CEO’s business transformation plan. BCorp CEO Rashid Jalil was quoted saying that he will be parting with the gamin business to unlock value for the rest of the business.
The disassociation from the Berjaya brand name could be just the beginning of the long separation.