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Berjaya founder Vincent Tan steps down as chairman, all-female board takes charge

Malay Mail
Malay Mail

KUALA LUMPUR, March 1 — Berjaya Corporation Berhad (BCorp) founder Tan Sri Vincent Tan, who turned 71 in February, has relinquished his position as its non-independent non-executive chairman of BCorp, the company announced today.

He will be replaced by Tunku Aminah Maimunah Iskandariah, the daughter of Johor Ruler Sultan Ibrahim Ismail.

Tan will assume the role of advisor “to provide guidance to the board and support the continued growth of the group”. Tan said the shake-up is part of the company’s efforts to “promote women empowerment”. The new board will be entirely women.

“The latest changes in the BCorp boardroom reflect the group’s commitment to promote women and empowerment in the workplace. I have every confidence in the leadership abilities of all the women on the Board to effectively lead the Group to greater heights,” he said in a statement issued by the company.

Other board members are Vivienne Cheng Chi Fan, joint group chief executive officer and executive director; Nerine Tan Sheik Ping, joint group chief executive officer and executive director; Norlela Baharudin, executive director; Chryseis Tan, executive director; Dr. Jayanti Naidu G. Danasamy, independent non-executive director; Penelope Gan, independent non-executive director and; Datuk Leong Kwei Chun (Datuk Anne Eu), independent non-executive director.

Tan will still be “very much involved with the group and its business activities” but will focus more on promoting his charitable foundation, Yayasan MyFirst Home, now a year old.

The foundation began operations in 2022 with a RM5 million capital injection from Tan, the foundation’s chairman. The tycoon said MFH was formed to promote and facilitate the development of affordable housing and home ownership by the B40 group, moving them up from being tenants to first-time homeowners.

YMFH has helped 5,000 people to date, according to news reports, with down payments, deposits, legal and evaluation fees, among others, provided for the pioneer batch.

“I am particularly passionate about finding solutions to assist the B40 group to be able to buy and own an affordable home which is the reason I founded Yayasan MyFirst Home with a personal donation of RM5 million to fund its initial start-up and operating costs,” he said.

“I truly believe Yayasan MyFirst Home will be able to make a difference in its endeavours to help the B40 group to own their own homes.”