Berjaya founder to list 7-Eleven and MOL Global

  • Business
  • Saturday, 25 Feb 2012

KUALA LUMPUR: Billionaire Tan Sri Vincent Tan plans to list the chain of 7-Eleven convenience stores, under a company called 7-Eleven Malaysia Bhd, and also MOL Global Bhd which has shares in Internet giant Facebook, within the next two years.

"I think 7-Eleven and MOL will be worth more than RM1bil (combined) when they are listed," he told reporters during the second Berjaya Founder's Day celebration held at Berjaya Times Square today.

The founder and controlling shareholder of the Berjaya Corp Bhd (BCorp) group of companies had stepped down as chairman of BCorp on Thursday, and said he wanted to devote more time and energy to promote more charitable initiatives and social programmes.

Tan said he would like to donate at least 10% (of 7-Eleven and MOL), after the companies are listed, to his Better Malaysia Foundation (BMF).

"So, the foundation will be better funded to carry out charitable efforts," he said.

BMF was founded a few years ago by the tycoon, and was formerly known as the Vincent Tan Chee Yioun Foundation.

Tan also pledged to donate RM600mil in the form of securities and shares to BMF this year.

At the celebration, BMF contributed RM11.6mil to 61 charity organisations.

The organisations that benefitted the most included Science of Life Studies 24/7 (RM1mil), Utar Education Fund (RM1mil), Mercy Malaysia (RM500,000) and the Tan Sri Vincent Tan Merit Scholarship Fund (RM500,000).

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