joetay10, land is not considered a liquid asset. BJToto has approximately 700 million net debt. Taking this debt out of BJLand balance sheet, BJLand still has approximately 1.8 billion net debt. This yet to include the proceeds from disposals of (1) Kyoto Four Season (2) Vietnam property projects and the court ruling on (1) Jeju Property project (2) Sungai Besi land swap and (3) China property project...

bjcorp owns approximately 72% of bjland. To privatize BJLand, BJCorp needs to acquire approximately 1.4 billion shares. A per share offer of 0.60, 0.80 and 1.00 respectively, BJCorp will need to spend 840 million, 1.12 billion, and 1.4 billion respectively. It would be a stretch to BJCorp balance sheet if it were to acquire 7-11 as well.

bjcorp owns approximately 72% of bjland. To privatize BJLand, BJCorp needs to acquire approximately 1.4 billion shares. A per share offer of 0.60, 0.80 and 1.00 respectively, BJCorp will need to spend 840 million, 1.12 billion, and 1.4 billion respectively. It would be a stretch to BJCorp balance sheet if it were to acquire 7-11 as well.

it will cost more to privatize 7-11 than to privatize BJLand... If VT try to privatize 7-11 first, it would pretty obvious an attempt to raise cash for himself at the expense of BJcorp minority shareholders...

i would prefer VT driving BJCorp to sustainably giving out 0.10 per share dividend every year and let share price responds accordingly

Frankly, don't like BJCorp buying 7-11 idea AT ALL! 7-11 was previously owned by BJCorp, listed only to be acquired cheaply by VT. After listing 7-11 and makes plenty, he's asking BJCorp to buy 7-11 again?!?

Will vote against this for sure... Would support a share swap for BJLand like what BJCorp has offered him 2 years ago or purely cash deal with a valuation at least equal to what's offered to him.

Will appreciate special dividend if assets are disposed though, could use some cash after holding BJCorp the past 3 years with no cash dividend...

Significant disposal or dispute (1) Jeju property project dispute (2) Malaysia Sungai Besi land swap dispute (3) China property project disposal dispute (4) Vietnam property project disposal (5) Japan Four Season.

BJLand has a net debt of approximately 1.8 billion if BJToto's debt is excluded. Wonder how much the 5 disposals/disputes will offer BJLand?

long awaited, sigh! hope this time no more fooling us minorities...

my guess, VT is confident about collecting huge compensation over failed Jeju project, thus trying to privatize BJLand before that happens. I have invested in both BJCorp and BJLand, hard to gauge which is better...

doubt VT will privatize bjland. VT needs money, not sharing money with his shareholders, unless he knew ahead the money from Jeju court case is ENORMOUS, too much not to privatize BJLand

doubt VT will privatize bjland. VT needs money, not sharing money with his shareholders, unless he knew ahead the money from Jeju court case is ENORMOUS, too much not to privatize BJLand

Yes

Damage not done Azmin Ali. It's Rozali's 'who knows what' few hundred million impairment + crazily priced plantation deal + others that investors got scared...

wonder if BJLand's management will disclose the Vietnam project disposal this month? It was mentioned it will be completed during the 4th quarter. Hope not another garbage show...

err.... surprise to see the losses (higher than what I thought it should be) but more surprises seeing Hengyuan in cash position, as if the management knows the oil price is to drop?!? Or, is it just coincidence due to plant upgrade?

guess its not a really spectacular news, worth only a day's rise...

VT telling non-buddies to back off from his shit house?

luckily, not so bad...

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5976405


Deemed Interest - acquired through Berjaya Bright Sdn Bhd

Ordinary Shares

Name of Registered Holder Date of Acquisition Price per Ordinary Share (RM) No. of Ordinary Shares % of Ordinary Shares
Berjaya Bright Sdn Bhd 14.11.2018 0.270 500,000 0.0103
Berjaya Bright Sdn Bhd 15.11.2018 0.275 1,300,000 0.0267

The above shares were acquired through Berjaya Bright Sdn Bhd, a company where TSVT is deemed to have an interest.

err... VT said now too cheap to sell, but he himself or his sons and daughters is/are disposing BJCorp

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5974133
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5968617
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5963533

err... thought low crude oil price is good for refinery?!?

yes, but not 100%

Does that mean Selangor state government going to compensate Puncak?!?

http://www.theedgemarkets.com/article/azmin-ali-withdraws-counterclaim-appeal-against-puncak-niaga

KUALA LUMPUR (Nov 7): Former Selangor Menteri Besar Datuk Seri Azmin Ali has withdrawn a counterclaim against Puncak Niaga Holdings Bhd in the Court of Appeal which relates to its RM14 billion lawsuit against him and his predecessor Tan Sri Khalid Ibrahim.

“Puncak wishes to announce to the Exchange that the hearing of Datuk Seri Azmin’s appeal to the Court of Appeal against the High Court's decision in dismissing his counterclaim against Puncak that was scheduled on November 5, 2018 was vacated as Datuk Seri Azmin had withdrawn the said appeal,” the company said in a brief filing with Bursa today.

This comes after almost a year-long lawsuit which started last November when Puncak Niaga filed an RM14 billion lawsuit against Azmin -- who is now the Economic Affairs Minister -- as well as Khalid. The company claimed they had abused their powers in public office during their time as Selangor Menteri Besar by threatening to cause, or attempting to cause, the federal government to invoke the use of the Water Services Industry Act 2006 (WSIA) to force a take-over of the state’s water industry

a bit surprise LCTitan share price not responds favourably towards falling crude oil price trend today...

Err... If VT has kept any promises, it would be broken promises. While seeing value in BJCorp and BJLand, its full value can't be reflected unless VT 'appears' to be fair to investing community.

err... I suppose if BJLand can either close the case on Vietnam project disposal, SG Besi court case, Jeju court case, or China project disposal payment issue, there might be some excitement for the short-term traders. Otherwise, there isn't much left to be excited about.

Cosway is on a restructuring mode, in my opinion. Meanwhile, Vietlott needs another year, pretty much in line with what VT's son had mentioned during last AGM. The property market is slow and we have yet to see the impact from the new government addressing the black market issue.

Err... there could be some surprises, who knows. A revival sports gambling license should work, but would PH dare to kick start this? Plus, BJLand's net debt is 1.8 billion if BJToto's 700+ million net debt is excluded while BJCorp's net debt is another 1.8 billion if BJLand's 2.5 billion (+ BJToto's 700+ million) is excluded. BJCorp's hand is pretty tight already, guess that's another reason why BJCorp or BJLand are not distributing any dividend (personally, I believe at least RM 0.01 per share should be declared by both BJCorp and BJLand if they are confident about the asset disposals plan. total cost is less than 70 million but long term investors are more willing to hold on.)

At least there shouldn't be much downside to BJCorp and BJLand's businesses (can't say much about the share price though,) and I don't mind holding a few years so long VT begins to pay dividends next year on.

attended the AGM, I have to admit VT is good at telling stories and pacifying his shareholders, genuine or not. A few issues were discussed, including Sg Besi court case, Vietnam asset disposal, Vietlott gaming potential, Cosway revival (?), and China asset disposal. He's not looking at privatizing BJLand and encouraged shareholders to hang on for a few years while he work on various matters, belieiving that both BJLand and BJCorp are heavily undervalued.

Can't really say much myself given I have never seen how well VT is in delivering promises over the years...

Thanks, or I would have missed it, thought 22nd falls on Tuesday ...

Err... bjcorp AGM falls on Tuesday if I were not wrong

VT not there. Question raised but basically nothing answered.... guess has to wait til bjcorp AGM

Well, no dividend until recover the claim from jeju, china and/or Vietnam project disposal... nothing bad but nothing great either, I guess

don't think Singh is trying to 'kill' TM lah, just trying to promote a more competitive environment in the telco industry. The telcos are too profitable currently, that's all. Just not sure how much profit the PH is willing to let the telco industry keep...

sheldon, thanks...

any of you attending the AGM? What's the major issues raised and outcome? thanks!

you don't have to bad mouth here, go to AGM, question and pressure him to perform!

Chai,

http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=...

its on page 4 of BCorp-AR 2018-Part1.pdf

only address and phone number though

no hope lah, unless BJLand announces the 'significant' profit on Vietnam asset disposal... Of course, won't mind seeing a recovery in share price to 30s range.

http://www.bursamalaysia.com/market/listed-companies/company-announcem...

Profit/(loss) for the period 71.991 million

Profit/(loss) attributable to ordinary equity holders of the parent 16.581 million

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5922657

Profit/(loss) for the period 71.991 million

Profit/(loss) attributable to ordinary equity holders of the parent 16.581 million

Puncak is already at rock bottom price with a market cap of less than 250 million, despite owning 40+ thousand hectares of plantation land and a few hundred acres of land in Kuala Selangor. Market, if not manipulated, is pricing it at this price for a simple reason, i.e., the board and management are nothing but shit! I can only come up with this reason, it could be much more complex, but given my simplistic mind, this is the only one I can think of.

So, just don't see why I should sell Puncak at shit price, err..., cheaper than shit?!?

There should not be any impairment reversal this quarterly earning report, there's no announcement on success to claw back jeju or China money or completion of Vietnam disposal resulting in 'significant' gain...

newbie5354, err... don't think that would any impact myself, but guess market already priced in that given the failure to pay end of last year. The BOD is 'confident' of getting paid while the market doesn't seem to believe that, I guess.

we should all fight for dividend!

Fight for dividend in AGM, it's absurd to not declare even a cent of dividend....

based on the most recent quarterly report, BJLand has a net asset of 6.5 billion, gross borrowing of 3.4 billion, net borrowing of 2.5 billion. After excluding the net borrowing of BJToto, BJLand's net borrowing is merely 1.8 billion.

Based on the FY18 annual report, BJLand is looking at receiving the final settlement from selling China property project amounting to CNY 974 million, approximately RM 590 million, a Jeju court settlement of at least RM 593 million, and Vietnam property project disposal with significant gain (err.. without specifying how much) that's at least RM 222 million. The total amount from the disposal is approximately RM 1.4 billion if not including the significant gain from Vietnam's disposal.

With a net borrowing of less than RM 400 million post disposal and excluding BJToto's net debt, I suppose the current market cap of RM 1.1 billion has more to do with liquidity concern and zero trust-worthiness of BJLand BODs and management.

Yes, I'm still holding... unless Dr. M gives profitable projects to Puncak, guess it would at least another 4-5 years before seeing recovery through its plantation business, assuming no mistake by the management and palm oil prices between 2200-2400 range by then

I'm going...

need VT to start distributing dividend, addressing the BJLand public spread concern with an announcement and clarity on the proceeds from disposing China, Vietnam, and Jeju property project!

need VT to start distributing dividend, addressing the public spread concern with an announcement and clarity on the proceeds from disposing China, Vietnam, and Jeju property project!

bjcorp offers to privatize bjland soon?

hmm... Daiman offer RM 3.00 per share selective capital reduction, will this offer some help to BJCorp and BJLand share price tomorrow?

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5894757