• The group said its wholly-owned subsidiary, Berjaya Leisure (Cayman) Ltd, is divesting the 80% stake in Berjaya-Handico12 Co Ltd (BHandico12) to two Vietnamese firms, namely Dong Thinh Phat Land JSC and Green Hill Construction Investment JSC.

KUALA LUMPUR (June 12): Berjaya Land Bhd (KL:BJLAND) said the group is divesting its entire 80% stake in a company undertaking a mixed-use development in Hanoi, Vietnam for 1.239 trillion dong (RM201.96 million) in cash.

The proceeds from the disposal will be allocated for loan repayments and general working capital within Berjaya Land, according to a bourse filing on Thursday (June 12).

The group said its wholly-owned subsidiary, Berjaya Leisure (Cayman) Ltd, is divesting the 80% stake in Berjaya-Handico12 Co Ltd (BHandico12) to two Vietnamese firms, namely Dong Thinh Phat Land JSC and Green Hill Construction Investment JSC.

BHandico12’s flagship project, Hanoi Garden City, is an integrated mixed-use development spanning 78 acres in Thach Ban Ward, Long Bien district, Hanoi.

Berjaya Land said the sale consideration represents a 32.5% premium to BHandico12’s net assets as of March 31. The carrying value of BHandico12 within the BLand Group stands at RM196 million, with an expected disposal gain of RM5.96 million upon completion.

The transaction is slated for completion in the second half of 2025.

Berjaya Land closed unchanged at 30 sen on Thursday, valuing the group at RM1.5 billion. Year to date, the stock has fallen 13%.

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