Malaysia-listed conglomerate Berjaya Corporation Berhad (BCorp) and Indonesian conglomerate MNC Group arm PT MNC Kapital Indonesia TBK (BCAP) have signed a preliminary nonbinding term sheet to enable both parƟes to explore e-money business in Malaysia.

Both parties said in a statement on Wednesday that the strategic partnership aims to leverage both BCorp’s and BCAP’s strengths to develop and expand the e-money-related services specifically between Indonesia and Malaysia.

“I am excited with the strategic partnership with the MNC Group. We see the tremendous value that MNC Group will bring as our strategic partner in enhancing the group’s ability to meet the needs of our customers,

“I look forward to the possibility of expanding the scope of our collaboration with the MNC Group moving forward as we work to further strengthen our position as the leading global consumer group,” said Vincent Tan Chee Yioun, Founder and Chairman of BCorp.

Meanwhile, MNC Group Executive Chairman Hary Tanoesoedibjo said the partnership between MNC Group and BCorp is expected to create synergy in providing convenience to the Indonesian people in Malaysia.

“I hope this partnership will also lead to more collaboration between Indonesian and Malaysian companies to benefit both countries and their people parƟcularly in trade, investments and businesses,

“I am confident that our expertise in digital financial services will be a gamechanger and bring significant value to this partnership,” he added.

BCAP is established by MNC Group, one of the largest national business groups in Indonesia.

Under the leadership of Hary Tanoesoedibjo, MNC Group has become the leader in four strategic investments: media and entertainment, financial services, entertainment hospitality, and energy.

BCorp is a company listed on the main market of Bursa Malaysia Securities Berhad and is a global consumer group with interests in four core business segments – retail (food and non-food), hospitality, property and services.

BCorp’s interests under these business segments include amongst others, food and beverages, consumer marketing, property development and investment, financial services, hotels and resorts, recreation clubs, air charter services, gaming, environmental services, motor trading and distribution, telecommunications, digital solutions and others.

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