Berjaya Corporation (BCorp) has announced that it has sold its entire 51% stake of 6.12 million shares in Berjaya Auto Alliance (BAASB) to Bermaz Auto (BAuto) and other shareholders for RM6.67 million. The sale was announced yesterday via a statement issued by BCorp.
This means that BCorp is no longer involved in the Peugeot distributorship, which it secured with BAuto through the BAASB joint venture in December last year. Besides Peugeot, the deal also included the rights to provide after-sales and spare parts for Citroen and DS in the country.
Originally, BAuto had a 20% interest in BAASB, but the company announced that it had acquired an additional 35% stake in the venture as a result of the sale. BAuto is of course not directly affiliated with Berjaya – the current Mazda distributor was spun off after a management buyout in 2016. The company is also now representing Kia in the country, having inked a partnership agreement with the Korean automaker in April.
BCorp group CEO Jalil Rasheed said the company was in the process of transforming into a diversified consumer group with focused business verticals, and the divestment was part of the restructuring and rationalisation exercise to divest its non-core assets.
He said that BCorp recognised that it would be more synergistic for BAuto to acquire BAASB. “BAuto’s capabilities and expertise in the automotive industry has been proven by its tremendous success and impressive track record in running the Mazda business, and we are confident that it will be able to do well in replicating the same business success for Peugeot,” Jalil said.
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Ehh eh.. Proton logo changed from tiger to lion
Only those never know the history will come out such stupid comment. Peugeot has used this logo during 1960s. What is Proton? Do you think France need to copy Proton logo?
Wow, Berjaya! Mazda, Peugout, Ctiroen and KIA.. what’s left for NAZA?
BAuto or Berjaya its all left pocket to right pocket.
Soon will become one of the largest automotive conglomerate in the country.
DRB has proton and honda. Mahindra. Modenas.
Sime Darby has Hyundai and Porsche. And a JV with Sisma Auto for Jaguar Land Rover franchise. Its Auto Bavaria now ranks as Super Dealer only so doesnt count here.
Tan chong has Nissan and Renault. And one chinese commercial truck.
UMW has toyota, lexus and perodua (lets not forget UMW has 38% shares in P2)
So where doesnt Berjaya stands? You tell me.
Left pocket go to right pocket, no change. Expect subpar aftersales service to continue.
Stope everything, just bring in the e-208. Make it an electric car company in Malaysia.
Congrats to Bermaz and Berjaya.
Now please rectify the service centres and other issues relating to the brand.
Ever since BAuto took over, it has not held it end of the bargain and it hard to say but Peugeot services has gotten worse. I bought a cbu 3008 in 2017 and i only enjoyed the service during my first year. Its all downhill from there. Stellantis please save the brand.
Now, is the time to bring in all nice models.
where is new model.?..other country already getting facelift model..we are here still not getting any new model yet…
What do you mean by malay dont get facelift model indonesia more never get facelift model like for example malay have get the peugeot 2008 we still 3008 and 5008 malay get volkswagen golf we still the previous golf. In indonesia just hyundai and renault who always give the facelift or new model fast and early into the market
Berjaya copr