BERJAYA Philippines, Inc. has further increased its stake in the Malaysian operator of 7-Eleven convenience stores, acquiring P58.86 million worth of shares in the company.
In a disclosure to the stock exchange on Thursday, the listed firm said it has acquired 3.41 million shares in 7-Eleven Malaysia Holdings Berhad (SEM) for about P17.27 each, or 1.36 Malaysian ringgit. The shares are equivalent to 0.3% of the total outstanding shares of SEM.
The acquisition brought Berjaya Philippines’ equity interest in SEM to 1.9%, or 21.41 million shares.
Berjaya Philippines said the shares were acquired in the Malaysian open market from Sept. 7 to Dec. 19 for investment purposes.
SEM fully owns 7-Eleven Malaysia Sdn. Bhd., which owns and operates the chain of 7-Eleven convenience stores in Malaysia. It currently operates the largest chain of convenience stores in the country with more than 2,200.
Berjaya Philippines’ core business is to engage in the leasing of online lottery equipment and software support through its unit, Philippine Gaming Management Corp. (PGMC).
Last October, PGMC signed a deal with the Philippine Charity Sweepstakes Office extending its equipment lease agreement for another year, until Aug. 22, 2019.
Aside from its core business, the company also has investments in diversified sectors.
Berjaya Philippines owns Berjaya Auto Philippines, Inc., the distributor of Mazda Vehicles. It also secured ownership of England-based luxury vehicle distributor H.R. Owen Plc — the world’s largest retailer of Rolls-Royce, Bentley, Lamborghini, and Bugatti brands back in 2014.
The company is also invested in Ssangyong Berjaya Motor Philippines, Inc., which sells and distributes all types of motor vehicles.
Berjaya Philippines further has interests in the restaurant segment through its investment in Berjaya Pizza Philippines, Inc., the exclusive franchisee of the Papa John’s pizza brand in the Philippines.
The company also owns Perdana Hotel Philippines, Inc., which operates Berjaya Makati Hotel in Makati.
Berjaya Philippines generated a 37% increase in attributable profit to P587.48 million for the first nine months of the year, following a 10% uptick in gross revenues to P16.86 billion.
Shares in Berjaya Philippines jumped 2.34% or nine centavos to close at P3.94 each at the stock exchange on Thursday. — Arra B. Francia