Berjaya Corporation Berhad has disposed of its entire stake in Citaglobal Berhad, realising approximately RM42.56 million in cash proceeds.
In an announcement, BCorp said its wholly owned subsidiary, had on 19 June 2026 disposed of 46.768 million ordinary shares in Citaglobal, representing an 8.64% equity interest in the company.
The disposal was completed through a direct business transaction with Detik Ria Sdn Bhd (Detik Ria) at RM0.91 per Citaglobal share.
Following the transaction, BSecurities ceased to be a shareholder of Citaglobal.
BCorporation said the cash consideration was determined after taking into account the prevailing market price of Citaglobal shares at the time of the disposal.
The shares were disposed of free from all liens, charges, claims or restrictions, allowing the BCorporation Group to realise its investment in Citaglobal.
The proceeds from the disposal will be used as working capital for the group, including payment of administrative, marketing and operating expenses.
BCorporation noted that the carrying value of the Citaglobal shares in its books stood at RM0.90 per share since June 2026.
BCorporation disclosed that Detik Ria is a major shareholder of the company. Tunku Tun Aminah Sultan Ibrahim Ismail, who serves as Non-Executive Chairman of BCorporation, a director of BSecurities and chairman of Detik Ria, was deemed interested in the transaction.
She is also a deemed major shareholder of Detik Ria and abstained from all Board deliberations and voting relating to the disposal.
The Board, excluding Tunku Tun Aminah, believes the disposal is in the best interest of the BCorporation Group.
