VINCENT TAN PLEDGES RM600 MIL TO BETTER MALAYSIA FOUNDATION

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KUALA LUMPUR, Feb 25 (Bernama) -- Berjaya Group founder Tan Sri Vincent Tan

today pledged to transfer RM600 million worth of shares in two of his companies

to the Better Malaysia Foundation which he set up for charitable causes.

This would be done this year via RM400 million worth of shares in U-Mobile

Telecommunication Berhad that would be listed and RM200 million in the form of

Irredeemable Convertible Unsecured Loans (Iculs)of Berjaya Corporation Berhad,

he announced at the Berjaya Founder''s Day celebration at Berjaya Times Square

here.

During the inaugural Berjaya Founder''s Day celebration last year, the

billionaire had pledged to donate half of his wealth to charity during his

lifeltime.

When he turned 60 two days ago, Tan announced he had relinqushed his

position as chairman of the group after earlier giving up the CEO post to his

eldest son, Datuk Robin Tan.

"It is by no means an easy decision to make as Berjaya has been a part of my

life. As I turned 60, I had to reset my priorities to seek rewards other than

financial so I could devote more time for other causes," he said.

--MORE

BERJAYA-VINCENT 2 KUALA LUMPUR

The Better Malaysia Foundation, formerly known as VTCY Foundation, carries

out activities in various fields to make Malaysia a better place for all to

live. VTCY stands for Tan''s full name, Vincent Tan Chee Yioun.

Turning to his son, he said: " He is capable and I am confident he can take

Berjaya to a higher level while I remain as adviser to the group. He is my

eldest son and has measured up although not every eldest son measures up".

On his role as adviser, he quoted former prime minister Tun Dr. Mahathir

Mohamad that he wants to be like a British adviser, " which means you must take

the advice".

Tracing his childhood, Tan said he managed to study up to Form 5 only

because his family could not afford to see him through to university.

But he attributed his first big break in life to his proficiency in the

English language.

-- MORE

BERJAYA-VINCENT 3 (LAST) KUALA LUMPUR

" If I had not been able to speak English, do you think MacDonald (the

American fast food chain) would have given me the franchise," he said.

Tan said he would give full support to any efforts to provide English

proficiency to young Malaysians as he believed this would greatly enhance their

employment opportunities.

The Better Malaysia Foundation would allocate RM10 million over the next

five years to build English language learning centres, he said.

Tan, who recently bought the English football club Cardiff City, said he had

always been very proud to be Malaysian and it was for this reason that the

country''s name appears on the team''s jerseys.

" Whatever people say, Malaysia is a great country and I am very proud to be

Malaysian. That''s why I tell my Malay friends: " Ini tanah tumpah darah ku" (

this is my country).

Tan will leave for London tomorrow in time for Sunday''s League Cup final at

the Wembley Stadium where Cardiff City play English Premier League Liverpool.

"God willing, we will win," he said with a broad smile.

At today''s celebration, Tan also handed over donations worth RM11.6 million

to 61 charitable bodies.

Also present was Sultan Hajah Kalsom of Pahang.

-- BERNAMA

AU AU HA

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