SINGAPORE (Dec 24): Vincent Tan, who is back at the helm of the Berjaya group, on Dec 19 unveiled his big plan to restructure his business empire that may involve the sale of assets, privatising two companies — 7-Eleven Malaysia Holdings and Berjaya Land (BLand) — as well as the listing of a hotel business in Singapore.

The plan will start with an asset sale at his flagship Berjaya Corp (BCorp). According to Tan, the group is in the midst of sealing a deal to sell its Four Seasons Hotel and Hotel Residences Kyoto for about US$700 million ($960 million) to US$800 million, which will translate into a divestment gain of US$400 million.

After the sale of the hotel in Kyoto, BCorp will have an expanded war chest to buy out 7-Eleven Malaysia Holdings, whose share price has slipped to a 15-month low of RM1.27.

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