Incoming CEO Jalil Rasheed lists down priorities at Berjaya

He will work with Vincent and Robin in all strategic decision-making and planning for the future business direction of the group


BERJAYA Corp Bhd’s shares attracted investor interest after announcing the appointment of Abdul Jalil Abdul Rasheed (picture) as its new CEO with the stock closing at 21 sen yesterday, up three sen or 16.67%, the highest in seven months.

In a stream of tweets via his Twitter handle “@jalilword”, the former CEO of Permodalan Nasional Bhd (PNB) stated it is a “tremendous privilege…to be given the responsibility to run” the conglomerate that will be undergoing an institutionalisation process.

“It is a sprawling business which I will try to enhance value. Importantly, the group has business in all major aspects of the economy, food, retail, real estate, leisure, hospitality, distribution, etc,” he tweeted yesterday.

He added that his role is to relook Berjaya Corp’s corporate structure and human resources, streamline businesses and manage cost efficiencies.

Jalil, 38, also emerged as the first non-family related member to helm the Tan Sri Vincent Tan-controlled conglomerate.

According to a statement issued by Berjaya Corp on Tuesday, the new CEO will work with Berjaya Corp’s executive chairman Vincent and son Datuk Seri Robin Tan in all strategic decision-making and planning for the future business direction of the group.

The board changes at Berjaya Corp were made to transform it into an institutionalised corporation managed by professionals.

Abdul Jalil’s mandate will be to relook Berjaya Corp’s corporate structure, optimise financial and human resources, improve synergies and efficiency, enhance corporate governance and transparency, streamline the various group businesses to create and enhance shareholder value and to transform Berjaya Corp into a high-performing organisation.

“After many decades of running this group, having endured and survived several global financial crises over the years and with the latest Covid-19 pandemic and economic downturn which have not spared the Berjaya Group as well, both Robin and I realised and decided it’s time that we streamline the way the organisation is managed, and relook at our various businesses, our strengths and shortcomings, and how to make sure that going forward we are future-proofed to meet the challenges of any external shocks.

“I am looking forward to working closely with Robin and Abdul Jalil to achieve this objective and to put the group on a stronger footing for the future,” Vincent noted in the statement on Tuesday.

Abdul Jalil resigned from PNB after nine months on the job due to issues raised about his paper qualifications.

In a series of tweets, Abdul Jalil stated he decided to resign after a bout of harassment which made him worry for the safety of his family.

Abdul Jalil spent eight years with Aberdeen Standard Investments and six years with the American fund manager Invesco Ltd, based in Singapore prior to his appointment at PNB.

Read our previous report here

BCorp surges 17% on appointment of Abdul Jalil Rasheed as Group CEO