BERJAYA GROUP BERHAD - Berjaya Corporation Berhad

20
Chairman’s Statement
STRATEGY FOR THE FUTURE AND PROSPECTS
The Group remains one of the largest
consumer groupings in the country with
successful businesses in gaming, direct selling,
financial services, property development,
vacation time-share and hotels and resorts
development.
International, will ensure that we continue to
progress with our quest to be a premier hotel
operator in the region.
The prevailing difficult business environment
is expected to continue into the current
financial year. Recognising this, austerity
measures have been instituted across the
Group to reduce cost and improve operational
efficiency. Synergistic opportunities, vast within
our diversified businesses would be fully
exploited to maximise returns for the Group.
BERJAYA LE
MORNE BEACH
RESORT &
CASINO,
MAURITIUS.
Given the resilience and operational strengths
of our diverse businesses, we believe we will
weather through this difficult period and
emerge stronger. We anticipate that the coming
financial year 1999’s results would be at least
satisfactory.
Our strength lies in the huge distribution
network and brand name that we have built in
the various core businesses. The Group’s main
earnings contributor, Sports Toto Malaysia, is
the second largest Number Forecast Operator
which runs the largest network of 681 outlets
throughout the country. Cosway (M) Sdn Bhd,
a leading direct selling company in Malaysia
with 270 stockist centres well distributed
throughout the country has registered more
than 250,000 members locally and another
150,000 members abroad. The formidable
strength of our network together with a focused
approach taken by the Group will ensure that
these businesses continue to grow in the future.
Despite the economic downturn, the Group has
continued to rationalize its operations where
needed. Our hotels and resorts operations,
already restructured to synergize with our timeshare
business, and having gone through a long
gestation period is beginning to turn around in
their performance. The strategic location of our
well managed hotels and resorts and affiliation
to a world renowned chain, Best Western
CONDOLENCES
The Board members and I would like to extend
our deepest condolences to the families of our
late colleagues, Mr. Tan Kim Poh and
Allahyarham Dato’ Wan Adli bin Dato’ Wan
Ibrahim who passed away on 28 January 1998
and 26 April 1998 respectively. I wish to extend
our thanks and appreciation for their invaluable
services rendered during their tenure in office.
APPRECIATION
On behalf of my fellow Board members, I wish
to especially thank the management and
employees for their hardwork and belief in us
throughout this difficult year. We also thank all
our shareholders, business partners, financiers,
regulatory authorities, customers and suppliers
for their continued support.
TAN SRI DATO’ SERI
VINCENT TAN CHEE YIOUN
Chairman / Chief Executive Officer
23 October 1998