KUALA LUMPUR, Dec 31 ― Berjaya Corporation Bhd (BCorp) aims to get into new areas of growth while re-investing in existing product lines as a driver for the organisation to move forward towards a better year in 2022.
According to group chief executive officer Jalil Rasheed, the only caveat is that it needs to add long-term value to the group, so BCorp would not rush into it just for the sake of beefing up.
“It needs to make sense and fit within the wider businesses we have in the group,” he said in a statement today.
While continuing to better streamline the organisation, he said BCorp would prepare for international borders to open and he would focus on internal transformation efforts as well.
“As per the three-year strategic plan, my focus includes paring down debts and continuing divestments to accelerate bottom-line recovery. We have identified what is core and what is not, so going forward we are clear about where to allocate more resources,” he said.
Explaining on the focus on international borders reopening, Jalil said it is critical for border restrictions to ease up so that the industry could start to pull itself out of the hole it has been put in, given that the country has always relied heavily on tourism and the domestic market is too small.
“However, with the vaccine and booster programme at full trot, I am optimistic that the hospitality sector will take a turn for the better in the coming year,” he opined.
He said the last two months had been very encouraging as there had been an uptick in occupancy rates at all its domestic properties and BCorp is ready to welcome tourists both domestic and international in the new year.
Internally, he said the priority was to establish clearer frameworks and implement better people and organisational optimisation.
“Currently, we are re-evaluating many existing internal processes and I am keen on switching up those that no longer serve us well,” he said.
Nevertheless, he added that BCorp is aware of many risks that could potentially put a damper on the plan such as new Covid-19 variants, government and state policy changes, in addition to inflation and evolving consumer behaviour. ― Bernama
