<article>Listed holding firm <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Berjaya" target="_blank">Berjaya Philippines Inc</a> has acquired seven million ordinary shares of <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=BAssets" target="_blank">Berjaya Assets Berhad (BAssets)</a>, owner of Berjaya Times Square, the largest shopping centre and commercial development in Malaysia.</article>

Listed holding firm <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Berjaya" target="_blank">Berjaya Philippines Inc</a> has acquired seven million ordinary shares of <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=BAssets" target="_blank">Berjaya Assets Berhad (BAssets)</a>, owner of Berjaya Times Square, the largest shopping centre and commercial development in Malaysia.
Berjaya Philippines realised a 0.62 per cent stake in BAssets after closing the deal on Tuesday, buying the shares priced at P10.82 apiece, for a total of over $1.5 million (P76 million).
&#8220;The transaction is for investment purposes,&#8221; Berjaya Philippines said in its statement.
BAssets is listed on the main market of Bursa Malaysia Securities Berhad. Its Berjaya Times Square remains to be Malaysia’s largest inner-city shopping-cum-leisure mall with a gross built-up area of 7.5 million square feet.
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The complex comprises a 12-level shopping mall, two 46-storey towers of service suites and hotel, two levels of hotel floors, three levels of office floors, five levels of basement and 10 floors of annexed car parks.
Berjaya Philippines is into gaming, mobile phone prepaid loading distributions, hotel, automobiles, restaurant, and also foundations.
As of April 30, 2016, the company is 74.2 per cent owned by Berjaya Lottery Management (HK) Limited of Hong Kong, and 14 per cent by Berjaya Sports Toto (Cayman).
Berjaya Philippines&#8217; ultimate parent is Berjaya Sports Toto Berhad of Malaysia, also a publicly listed company in the Kuala Lumpur stock exchange.
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Focused on investment holding, Berjaya Philippines owns 100 per cent equity ownership of Philippine Gaming Management Corporation (PGMC), which operates the business of leasing online lottery equipment and providing software support in the Luzon Region to the Philippine Charity Sweepstakes Office (PCSO), a Philippine government agency responsible for lotteries and sweepstakes.
It has a 72 per cent equity interest in HR Owen Plc, a luxury motor retailer, and also in the wholly-owned Perdana Hotel Philippines Inc which operates Berjaya Makati Hotel in Makati City, Metro Manila.
Berjaya Philippines&#8217; net income decreased by P244.64 million or 25.7 per cent, to P706.33 million in financial year 2016 from P950.97 million in the same period last year.
Total assets of the group increased by P2.47 billion or 18.8 per cent to P15.60 billion as of April 30, 2016, from P13.13 billion in the previous year.
Berjaya Philippines last traded at P5.29 per share on Thursday.
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Berjaya Philippines buys stake in Malaysia's BAssets for $1.5m

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Berjaya Philippines buys stake in Malaysia's BAssets for $1.5m

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