By Sharen Kaur
sharen@nstp.com.my
Published in NST on February 25, 2013
BERJAYA Group founder and one of Malaysia's top 10 richest men, Tan Sri Vincent Tan, is considering disposing of some of his private investments to raise funds and support charity organisations.
"I am 61 this year. When I am nearing retirement, I will sell off more than half of my business to fund charity organisations.
"That will be ideal to give away what I have. I don't need too many businesses, but a few," Tan said at the Berjaya's Founder's Day 2013 celebration on Saturday.
Tan, who relinquished his position as chairman of Berjaya Corp Bhd (BCorp) early last year, has pledged to donate more than half his wealth to charity organisations.
Tan said every year, he plans to give away between RM20 million and RM30 million to support those in need.
Forbes Magazine last estimated Tan's net worth at around US$1.2 billion (RM3.6 billion).
"I would like to work until I am 80 years' old to earn more money; I could give it all away. Everything I have currently is for sale provided there is a good price," Tan said.
However, he declined to elaborate on which assets he would be selling immediately.
According to BCorp's website, Tan's private businesses are 7-Eleven Malaysia Bhd, MOL Global Bhd, 3G service provider U-Mobile Sdn Bhd and Berjaya Assets Bhd, which is involved in property management, investment and development.
Berjaya Assets' wholly-owned subsidiary, Berjaya Times Square Sdn Bhd, operates Berjaya Times Square, which includes a 12-level shopping mall and two 46-storey towers of service suites.
Tan also controls Natural Avenue Sdn Bhd, the sole and exclusive agent for Sarawak Turf & Equestrian Club that operates number forecast lotteries in Sarawak, and Berjaya Media Bhd, whose flagship publication is The Sun newspaper.
Other businesses include Singer (Malaysia) Bhd and Intan Utilities Bhd, in which Tan has a controlling stake.
Intan Utilities is involved in the privatisation of water treatment. It holds a 40.08 per cent stake in Berjaya Infrastructure Sdn Bhd, the holding company for Metropolitan Utilities Corp Sdn Bhd and Air Utara Indah Sdn Bhd.
Metropolitan Utilities and Air Utara Indah are involved in the operations, maintenance and management of water treatment plants and the supply of potable water to the concession areas in Perak and Kedah, respectively.
For overseas water projects, Intan Utilities, through Berjaya Infrastructure, owns 80 per cent interest in a build, operate and transfer concession in the Regency of Gianyar, Bali, Indonesia, and a 100 per cent interest in two water concessions in Qing Yuan County, Guangdong, China.
sharen@nstp.com.my
Published in NST on February 25, 2013
"I am 61 this year. When I am nearing retirement, I will sell off more than half of my business to fund charity organisations.
"That will be ideal to give away what I have. I don't need too many businesses, but a few," Tan said at the Berjaya's Founder's Day 2013 celebration on Saturday.
Tan, who relinquished his position as chairman of Berjaya Corp Bhd (BCorp) early last year, has pledged to donate more than half his wealth to charity organisations.
Forbes Magazine last estimated Tan's net worth at around US$1.2 billion (RM3.6 billion).
"I would like to work until I am 80 years' old to earn more money; I could give it all away. Everything I have currently is for sale provided there is a good price," Tan said.
However, he declined to elaborate on which assets he would be selling immediately.
According to BCorp's website, Tan's private businesses are 7-Eleven Malaysia Bhd, MOL Global Bhd, 3G service provider U-Mobile Sdn Bhd and Berjaya Assets Bhd, which is involved in property management, investment and development.
Berjaya Assets' wholly-owned subsidiary, Berjaya Times Square Sdn Bhd, operates Berjaya Times Square, which includes a 12-level shopping mall and two 46-storey towers of service suites.
Tan also controls Natural Avenue Sdn Bhd, the sole and exclusive agent for Sarawak Turf & Equestrian Club that operates number forecast lotteries in Sarawak, and Berjaya Media Bhd, whose flagship publication is The Sun newspaper.
Other businesses include Singer (Malaysia) Bhd and Intan Utilities Bhd, in which Tan has a controlling stake.
Intan Utilities is involved in the privatisation of water treatment. It holds a 40.08 per cent stake in Berjaya Infrastructure Sdn Bhd, the holding company for Metropolitan Utilities Corp Sdn Bhd and Air Utara Indah Sdn Bhd.
Metropolitan Utilities and Air Utara Indah are involved in the operations, maintenance and management of water treatment plants and the supply of potable water to the concession areas in Perak and Kedah, respectively.
For overseas water projects, Intan Utilities, through Berjaya Infrastructure, owns 80 per cent interest in a build, operate and transfer concession in the Regency of Gianyar, Bali, Indonesia, and a 100 per cent interest in two water concessions in Qing Yuan County, Guangdong, China.
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