Goreng or privatizing BJLand?

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5844445

The Board of Directors of Berjaya Land Berhad (“BLand”) wishes to announce that based on Record of Depositors as at 29 June 2018, the public shareholding spread of BLand is 19.95% which is below the 20% minimum public shareholding spread requirement approved by Bursa Malaysia Securities Berhad (“Bursa Securities”) vide its letter dated 18 August 2010.

BLand will seek the approval of Bursa Securities for an extension of time to comply with the public shareholding spread requirement.

Gangnam, if BJCorp were to declare dividend with BJLand's money, BJLand has to declare dividend first... Surely, I won't mind that at all, bought some BJLand lately anticipating a 'significant profit' from Vietnam disposal

the share dividend 2 years ago was announced in the Q4FY16 report, given no mention in Q4FY18, there's no dividend to BJCorp shareholders this year too.

in my opinion, its actually not a good move if the buyback can't give traders a forceful impression that the board is serious over how the share price not reflecting the true value of the company (when the company has the capacity to defend itself)...

BJCorp and BJLand should follow YTL and YTLPower's efforts, buying back in larger scale... 1 million shares is a bit laughable!

can only hope details of the 'significant gain' from Vietnam projects disposal be announced soon...

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5842861

Date of buy back 02 Jul 2018
Description of shares purchased ORDINARY SHARES
Currency Malaysian Ringgit (MYR)
Total number of shares purchased (units) 1,000,000
Minimum price paid for each share purchased ($$) 0.295

Dividend paid in December will usually be mentioned in Q4 report cause it's final dividend

real upset with no dividend...

only the details of the last stage Vietnam project disposal will bring excitement now...

BJCorp generated RM 482 million cash flow from operation (96.9 million) and investment (385.1 million) for FY 2017 and RM 703 million cash flow from operation (444.1 million) and investment (259.4 million) for FY 2018, and won't even pay a cent per share of dividend? that's not even RM 60 million payout...

many buying?!? err... are you dreaming, freetospeak?

well, at least BJLand is expecting a better next year from the Vietnam project disposal and removal of GST...

http://www.theedgemarkets.com/article/berjaya-land-ends-fy18-red-forex...

For the full year, Berjaya Land fell into the red with a net loss of RM189.53 million, versus a net profit of RM294.74 million in FY17, though revenue only fell marginally to RM6.365 billion from RM6.371 billion.

“In spite of the comparable revenue, the group registered a significantly lower pre-tax profit for the current year under review, mainly due to impairment made on certain available-for-sale investments, assets held for sale and property, plant and equipment amounting to approximately RM223.8 million,” said the group.

There was also a lower share of profits from its associated companies. It noted Berjaya Kyoto Development (S) Pte Ltd sold lower number of units at its Four Season Residences during the year.

In addition, Berjaya Land had also recognised a one-off gain in FY17 on settlement for surrendering certain assets and lease interest by a subsidiary to the relevant authorities, which amounted to RM184.6 million.

Going forward, the group expects the interim tax holiday following the zero rating of the goods and services tax (GST) to augur well for the group, especially its hotels and resorts business, though it expects the property market to remain lukewarm.

The group also expects to record a significant gain upon the successful disposal of Berjaya Vietnam International University Town One Member Limited Liability Company (BVIUT), and another Vietnam subsidiary, in due course.

At market close today, shares in Berjaya Land slipped one sen to settle at 29 sen, valuing the group at RM1.5 billion.

well, at least BJLand is expecting a better next year from the Vietnam project disposal and removal of GST...

http://www.theedgemarkets.com/article/berjaya-land-ends-fy18-red-forex-rates-sports-toto-drag

For the full year, Berjaya Land fell into the red with a net loss of RM189.53 million, versus a net profit of RM294.74 million in FY17, though revenue only fell marginally to RM6.365 billion from RM6.371 billion.

“In spite of the comparable revenue, the group registered a significantly lower pre-tax profit for the current year under review, mainly due to impairment made on certain available-for-sale investments, assets held for sale and property, plant and equipment amounting to approximately RM223.8 million,” said the group.

There was also a lower share of profits from its associated companies. It noted Berjaya Kyoto Development (S) Pte Ltd sold lower number of units at its Four Season Residences during the year.

In addition, Berjaya Land had also recognised a one-off gain in FY17 on settlement for surrendering certain assets and lease interest by a subsidiary to the relevant authorities, which amounted to RM184.6 million.

Going forward, the group expects the interim tax holiday following the zero rating of the goods and services tax (GST) to augur well for the group, especially its hotels and resorts business, though it expects the property market to remain lukewarm.

The group also expects to record a significant gain upon the successful disposal of Berjaya Vietnam International University Town One Member Limited Liability Company (BVIUT), and another Vietnam subsidiary, in due course.

At market close today, shares in Berjaya Land slipped one sen to settle at 29 sen, valuing the group at RM1.5 billion.

Err... a quarterly loss of 76.4 million and yearly loss of 189.5 million for BJLand FY 2018

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

1 Revenue
1,585,027 1,676,859 6,365,275 6,371,366

2 Profit/(loss) before tax
-19,394 111,121 71,112 576,321

3 Profit/(loss) for the period
-76,486 72,201 -123,626 411,221

4 Profit/(loss) attributable to ordinary equity holders of the parent
-92,148 88,573 -189,525 294,738

5 Basic earnings/(loss) per share (Subunit)
-1.85 1.78 -3.80 5.91

Err... a quarterly loss of 76.4 million and yearly loss of 189.5 million for FY 2018

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5836977

1 Revenue
1,585,027 1,676,859 6,365,275 6,371,366

2 Profit/(loss) before tax
-19,394 111,121 71,112 576,321

3 Profit/(loss) for the period
-76,486 72,201 -123,626 411,221

4 Profit/(loss) attributable to ordinary equity holders of the parent
-92,148 88,573 -189,525 294,738

5 Basic earnings/(loss) per share (Subunit)
-1.85 1.78 -3.80 5.91

Alas, quarter reports will be out within these coming four days... can only hope Vietnam project disposal can bring in hundreds of millions of profit if coming quarter reports not satisfactory

Gangnam, while bjcorp owns close to 50% of bjtoto, roughly 40% ownership is through its subsidiary, bjland.

Coming quarter report, most likely next Friday, will usually let us know how much dividend to be expected, if any. The actual dividend, though, is usually distributed during the month of December.

Err... EDCorp awaiting Miagra handouts so Crony Tan can goreng? Just a joke

BJToto made a 35 million profit this quarter compared to 72 million profit 4th quarter 2017 and 59 million last quarter...

Counter Q42017 Q32018 Q42018
BJToto 72.0 mil 59.0 mil 35.0 mil
BJLand 88.5 mil -9.0 mil ?!?
BJCorp 3.2 mil -92.5 mil ?!?

I don't think BJCorp's profit is correlated to BJToto's, too many unknown in BJCorp's...

Err... So, big sharks selling instead of buying?

hmm.... superbull11, hope you are right and bjcorp rises to above 0.60

BJToto quarterly profit dropped more than 50% this quarter

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5828757

Revenue
1,400,743 1,477,077 5,660,587 5,731,396

2 Profit/(loss) before tax
65,532 102,165 377,904 376,141

3 Profit/(loss) for the period
36,698 75,850 238,740 246,707

4 Profit/(loss) attributable to ordinary equity holders of the parent
35,177 72,488 230,454 237,131

5 Basic earnings/(loss) per share (Subunit)
2.61 5.38 17.11 17.59

6 Proposed/Declared dividend per share (Subunit)
4.00 3.00 16.00 14.00

err... so many dreams?!?

so, investing in another car brand to capture Perodua and/or Proton businesses? Or, to challenge the luxury brands like BMW, Mercedes and Porsche?

proton 2.0? if no government fund, die kuat kuat...

Err... leek, where do you get that insider info?

Umobile has nothing to do with BJCorp!

though, I believe, with more minorities willing to voice out, situation will begin to change...

leek, I don't understand the Vietnamese article. Based on the announcement, BJLand has seen its BVIUT shareholding diluted when Vinhomes injected equity into the company. BJLand intends to dispose what's left in BVIUT, 0.8%.

http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=87501&name=EA_GA_ATTACHMENTS

If you believe what's announced in Bursa is not genuine, you would have to contact BURSA or SC. I have an earlier experience with SC on Puncak Niaga and its with a few other shareholders. Frankly, don't see SC acted to protect minorities.

err... planning or blowing? based on current share price, market doesn't seem to appreciate it at all...

if share price is any indicator of coming quarterly earning, think BJCorp earning should not be good...

superbull11, thanks for your technical analysis. May I know what resistance BJCorp has to break before it can reach 0.60 or 1.00? Thanks!

Sigh! When's my 0.60 - 1.00...

Ting Pek Khiing announced 30 billion project and arrest warrant awaits him, VT announced 1.2 billion project and...

in exchange for what? Land + casino? hmm... bjland better be able to sell its Vietnam projects for more than RM 1 billion

err... only320,000 BJLand shares are traded today and 220,000 shares are due to VT buying

err... only320,000 BJLand shares are traded today and 220,000 shares are due to VT buying

With the recent announcement on breaking Bernas monopoly, is it possible Genting's Lim called to meet Dr, M to discuss the schedule to break Genting's monopoly on casino and online gaming?

during the last AGM, if i were not wrong, VT's son had already mentioned that it would take roughly 3 years for Vietlott's gaming project to breakeven...

i would rather hope for a special 5 cents dividend...

hmm... wonder if MACC would investigate Puncak's plantation deal given investigation into FGV's?

sports betting is a very sensitive issue among muslim Malaysians, I would assume it would take a while before its approved and legalized. Furthermore, there is a huge difference between Dr. M and LKS views on sports betting. while agreeing to legalizing betting, LKS believes the system should be designed so that majority of the profits of betting falls in the hand of government while Dr. M believes it should be in the hand of private sector

gangnam Lol...Berjaya: from zero to hero

http://www.vir.com.vn/berjaya-from-zero-to-hero-47424.html

well, based on the above link, BJLand seems to enter into way too much property projects than it can handle in Vietnam...

leek, based on the announcement, there are 3 BJLand's Vietnam subsidiaries that are involved:

(1) Berjaya Vietnam Financial Center, BVFC, sold 32.5% (the other 67.5%, if not wrong, is dilution from cash injection by Vinhomes) for RM 154.86 million with an estimated loss of RM 25.1 million.

(2) BVIUT, a cash injection of close to USD 600 million by Vinhomes, resulting a shareholding dilution to 0.8%. The 0.8% is yet to be disposed and that's probably why BJLand doesn't announce the profit/loss of the said investment.

(3) Another BJLand's subsidiary in Vietnam yet to be disposed but no name is disclosed. Together with BVFC and BVIUT disposal, BJLand is expecting a significant gain from these 3 projects disposal.

Hopefully, I have gotten the right picture from the announcement.

alas, I have more BJCorp shares than BJLand shares... Anyway, hopefully the market will respond favourably towards this news tomorrow.

http://www.theedgemarkets.com/article/berjaya-land-exits-longdelayed-v...

KUALA LUMPUR (June 5): After nearly a decade of delays in project execution, Berjaya Land Bhd (BLand) decided to call it a day. The property group is divesting its investment in a Vietnamese financial centre project at a loss.

In a filing today, BLand said it is selling off the entire 32.5% of total capital contribution in Berjaya Vietnam Financial Center Ltd (BVFC Ltd) to local firms Vinhomes Joint Stock Co and Can Gio Tourist City Corp for 884.93 billion Vietnamese Dong (RM154.86 million) cash.

BLand said a capital transfer agreement was signed between its subsidiary Berjaya Leisure (Cayman) Ltd (BLeisure Cayman) with the purchasers. BLand’s capital contribution in BVFC Ltd originally amounted to 967.31 billion Vietnamese Dong. “The proposed disposal will result in an estimated loss of about RM25.1 million,” it said.

The multi-billion ringgit Berjaya Vietnam Financial Center (BVFC) project was licensed in 2008, but faced multiple hiccups which hindered the project from being executed. The development, said BLand, would have comprised an office building, five-star hotel, service residences and shopping mall on a 6.64-hectare land located at 3/2 Street, District 10, Ho Chi Minh City, Vietnam.

However, BLand clarified that BVFC Ltd has not commenced operations.

“The consideration for the proposed disposal was arrived at on a willing buyer willing seller basis taking into consideration, amongst others, the business valuation, earnings potential and future prospects of BVFC,” it added. The proposed disposal, said BLand, is subject to the approvals from the Department of Planning and Investment in Ho Chi Minh and any other relevant authority.

BLand said the proceeds will be used by the group for working capital, adding that the proposal is expected to conclude during the second half of this year. Vinhomes, a subsidiary of the Vigroup Joint Stock Co, is involved in real estate trading, consulting, brokerage, auction of real estate and auction of land use rights.

Similarly, Can Gio — a 99.05%-unit of Vinhomes — is also involved in real estate trading, real estate brokerage and real estate services. In relation to the disposal, Vinhomes will also potentially purchase Berjaya Vietnam International University Town One Member Ltd Liability Co (BVIUT) from BLeisure Cayman, having injected capital into the unit and effectively raising its stake in the firm to 99.2%

BLeisure Cayman, which is left with 0.8% stake in BVIUT, plans to dispose of the stake in the near future.

“Together with the proposed BVIUT Disposal, the BLand group is also in negotiations on the potential sale of another of its Vietnamese subsidiaries,” said BLand, but did not elaborate on the details.

“Barring any unforeseen circumstances, the proposed disposals of all these three Vietnamese subsidiaries upon completion are expected to record significant gain and improve the consolidated net assets of BLand,” it added.

Shares of BLand closed unchanged at 31 sen apiece, giving it a market capitalisation of RM1.55 billion.

http://www.theedgemarkets.com/article/berjaya-land-exits-longdelayed-vietnam-financial-centre-project

KUALA LUMPUR (June 5): After nearly a decade of delays in project execution, Berjaya Land Bhd (BLand) decided to call it a day. The property group is divesting its investment in a Vietnamese financial centre project at a loss.

In a filing today, BLand said it is selling off the entire 32.5% of total capital contribution in Berjaya Vietnam Financial Center Ltd (BVFC Ltd) to local firms Vinhomes Joint Stock Co and Can Gio Tourist City Corp for 884.93 billion Vietnamese Dong (RM154.86 million) cash.

BLand said a capital transfer agreement was signed between its subsidiary Berjaya Leisure (Cayman) Ltd (BLeisure Cayman) with the purchasers. BLand’s capital contribution in BVFC Ltd originally amounted to 967.31 billion Vietnamese Dong. “The proposed disposal will result in an estimated loss of about RM25.1 million,” it said.

The multi-billion ringgit Berjaya Vietnam Financial Center (BVFC) project was licensed in 2008, but faced multiple hiccups which hindered the project from being executed. The development, said BLand, would have comprised an office building, five-star hotel, service residences and shopping mall on a 6.64-hectare land located at 3/2 Street, District 10, Ho Chi Minh City, Vietnam.

However, BLand clarified that BVFC Ltd has not commenced operations.

“The consideration for the proposed disposal was arrived at on a willing buyer willing seller basis taking into consideration, amongst others, the business valuation, earnings potential and future prospects of BVFC,” it added. The proposed disposal, said BLand, is subject to the approvals from the Department of Planning and Investment in Ho Chi Minh and any other relevant authority.

BLand said the proceeds will be used by the group for working capital, adding that the proposal is expected to conclude during the second half of this year. Vinhomes, a subsidiary of the Vigroup Joint Stock Co, is involved in real estate trading, consulting, brokerage, auction of real estate and auction of land use rights.

Similarly, Can Gio — a 99.05%-unit of Vinhomes — is also involved in real estate trading, real estate brokerage and real estate services. In relation to the disposal, Vinhomes will also potentially purchase Berjaya Vietnam International University Town One Member Ltd Liability Co (BVIUT) from BLeisure Cayman, having injected capital into the unit and effectively raising its stake in the firm to 99.2%

BLeisure Cayman, which is left with 0.8% stake in BVIUT, plans to dispose of the stake in the near future.

“Together with the proposed BVIUT Disposal, the BLand group is also in negotiations on the potential sale of another of its Vietnamese subsidiaries,” said BLand, but did not elaborate on the details.

“Barring any unforeseen circumstances, the proposed disposals of all these three Vietnamese subsidiaries upon completion are expected to record significant gain and improve the consolidated net assets of BLand,” it added.

Shares of BLand closed unchanged at 31 sen apiece, giving it a market capitalisation of RM1.55 billion.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5815957

1 31/05/2018 200,000 Acquired

Name of registered holder Hotel Resort Enteprise Sdn Bhd