business
Berjaya Corp’s share rise on partnership with CW Retail
Berjaya Corporation Bhd's share price rose in early trade today after announcing a collaboration with Australian company CW Retail Asia Pty Ltd to operate a pharmacy chain within and outside Malaysia.
At 9.38am, the counter went up 1.5 sen to RM41.5 sen with 9.15 shares changing hands.
In a filing with Bursa Malaysia yesterday, Berjaya Corp said the venture, under the name of Chemist Warehouse Berjaya Asia, will involve its wholly-owned unit Berjaya Group Bhd acquiring an 80% stake in a pharmaceutical company, Morning Charm Sdn Bhd, for RM80,000.
It said Morning Charm and Monarch Wonder signed a joint venture (JV) cum shareholders' agreement with CW Retail to operate Chemist Warehouse Berjaya Asia.
"Morning Charm and Monarch Wonder will own 75% of the JV company with CW Retail controlling the remaining 25% stake," it added. – Bernama, March 4, 2016.
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