Reference is made to an enquiry from Bursa Malaysia Securities Berhad via its letter dated 16 July 2021 on the article appearing in the EdgeMarkets.com website entitled “Berjaya Corp Plans To Privatise BLand, Sell BToto and Set Up Hospitality REIT, says Jalil”.

The Board of Directors of Berjaya Corporation Berhad (“BCorporation”) wishes to clarify that the abovementioned plans are personal idea and strategies of our new Chief Executive Officer, En. Abdul Jalil bin Abdul Rasheed (“En. Jalil”). En Jalil’s appointment was made to transform the BCorporation Group into an institutionalised group, managed by professionals. En. Jalil was mandated to relook at the BCorporation structure and amongst others to improve synergies & efficiency, streamline the various group businesses and to transform BCorporation into a high performing organisation. En. Jalil was answering possible permutations as to how he can structure the BCorporation Group to achieve the objectives of the restructuring exercise and the possibility of divesting certain assets during these public investor relations forums.

The Board of Directors of BCorporation is not aware of and has not deliberated any of the abovementioned strategic plans. The Directors of BCorporation will deliberate on the finalised proposals to be tabled to them for Board’s consideration and decision.

This Announcement is dated 16 July 2021.