After sale of STM, Bjland will be cash rich as 40% STM owned by Bjland & halal compliant to focus on Hotel REIT & property development? Wondering who bought VT's 140M shares at 22 cents. Johor Royalty still owns shares in Bjasset thats why still high at 28.5 cents eventhough making loses. Interestingly Johor Sultan just appointed son as Regent to take a rest from Royal duties to focus on biz interests?
https://investingmalaysia.com/shareholder-dymm-sultan-ibrahim-johor/

Try this links too for your research too. See whether you can put 2 & 2 together?...I believe Lena Tan & New World Capital Advisers will play a great role with BJCorp/7Eleven (after successful privatisation of Caring) to initiate the next course of actions for Berjaya's Rejunevation?
https://www.edgeprop.my/content/1455824/vincent-tan-restructure-his-business-empire
https://focusmalaysia.my/maiden-acid-test-awaits-jalil-presumably-as-bcorp-expands-into-financial-management/
https://www.wsj.com/market-data/quotes/MY/XKLS/5250/company-people/executive-profile/73877224

Its good to have a foreign point of view. There should be also some coverage on BJLand which is BJCorp's 80% owned subsidiary. The key to unlocking BJCorp's real worth should be through taking over BJLand's assets such as 40% shares in BJToto, extensive landbank in Selangor, Penang, Pahang etc. and also converting BJLand's money making 5 stars hotel assets such as 100% in Icelandair Hotels, Iceland, Berjaya Eden Park Hotel UK, FS Kyoto & FS Okinawa (construction started end 2020) into a Hospitality REIT as proposed by Jalil in BJcorp's recent Turnaround Plan.
https://www.nst.com.my/property/2021/07/708651/berjaya-corp-set-hospitality-reit-comprising-only-five-star-hotels-it-owns
https://www.nst.com.my/property/2021/11/743437/berjaya-group-set-open-more-hotels-iceland-including-four-seasons-brand

So what? Nothing has changed. Still no dividend? Thought VT is a miser but looks like Robert Tan is worse? Keeps all the profit for kaki lang & nothing for minority? CEO salary already RM1.3m, debt is not well covered by operating cash flow with net liabilities of more than RM151 million. Insiders already controls 75% & shareholders spread only 25%. Just remain in jail & beware of the Shark's squeeze until high & dry!

Doesn't looks good when assets doesn't cover liabilities? Also the Gearing ratio (equity to debt) of 49.8% is quite high?

Johnchew5 Referred to FY22 (Q2) ended July 2021 :
a) Financial assets
total = 144,103,000

b) Financial liabilities
Loans and borrowings 253,000,00
Trade and other payables 40,867,000
Lease liabilities 1,303,000

total = 295,170,00
Net liabilities: a) - b ) = (151,067,000)
>> Gearing ratio : 49.8 %

I rest my case...

Since need to wait 2 to 5 years why not make hay while the Sun shines elsewhere as suggested by sifu Calvin in Palm oil etc?

Can always revisit BCorp in 2 to 5 years time when it really shows a turnaround?

Since need to wait 2 to 5 years why not make hay while the Sun shines elsewhere as suggested by sifu Calvin in Palm oil etc?

Can always revisit BCorp in 2 to 5 years time when it really shows a turnaround?

No point hiring extra staff when the current investor's relations team is not performing to expectations? Don't thing BCorp will go anywhere sooner in a depressed market?

I think Govt. Is moving away from China made vaccines given doubts on it's efficacy with Delta...Looks like the 3rd dose will probably be Pfizer or AZD vaccine?

Well said! The only beneficiaries is VT & gang!

alenac Price goes up a bit Vincent starts selling, now lower price picking up mother and dumps Iculs. When can the mother moves up when the boss got billions of shares ready to dispose of?

According to latest Balance Sheet BCorp has short term debts due of RM5 billion within 1 year and another RM7 billion due after that. If all the cash received from disposal of assets such as hotels in Seychelles, Sri Lanka, Vietnam & BToto Philippines is utilised to pay the immediate debts of RM5 billion, there is not much working capital left for BCorp assuming the cash burn rate is RM2 million daily for operations. Further, if you already sell the prime assets/cash cows to raise money to pay debts, you will have less assets left for generating future profit?

stockraider Read properly lah!

There are plan in place for disposal assets of Rm 2b within 2 years & Rm 5b disposal assets within 5 years mah!

How to wait 2 to 5 years?
Remember if your borrow RM1 million @ 6% pa to buy BCorp, you will incur cost of capital of RM60k yearly. If you wait 2 to 5 years, you will incur interest of RM120k to RM300k over this period of time. That means, you would have lost 30% of 1 million at the end of 5 years as there is no guarantee on capital loss on the principal of RM1 million borrowed if BCorp share price keeps dropping?

What's the use of high RNAV when VT is like a dog in the manger? There is no value in such assets unless already in your pockets. The most important criteria for shareholders in a long term investment is cashflow & profitability. If BCorp has been making lossless since 2016 how to Huat?
Any cash received earlier from sale of FSKyoto & Jeju compensation has been used to pay interest on debts & ICULS owned by VT & Associates. VT has tried earlier to dilute shareholders value by proposing to sell Singer to BCorp at a high price. There is no guarantee VT will not do it again in future.

"A this talk on RNAV & charity but no actions doesn't translate into profitability. Tell Jalil to show us BCorp's 100 days KPI otherwise Berjaya is just another Afghanistan, sitting on USD1 trillion of mineral deposits but remains mediocre & poor."

A this talk on RNAV & charity but no actions doesn't translate into profitability. Tell Jalil to show us BCorp's 100 days KPI otherwise Berjaya is just another Afghanistan, sitting on USD1 trillion of mineral deposits but remains mediocre & poor.

https://edition.cnn.com/2021/08/18/business/afghanistan-lithium-rare-earths-mining/index.html

Stocks to buy &-hold for long term must show potential growth, profitable & pays dividends to sustain investors interest. ROI is more important criteria for long term investment rather than perceived RNAV which can been seen but cannot touch depending on the whims & fancies of the owner & market demand. After all it has no "value" unless already in your pockets.

Atm can't see this in BCorp, since Jalil busy firefighting to pay massive debts, cut costs to reduce losses, sell shares & assets to provide cashflow for operating costs, pay interest on debts & ICULs? Where is the focus on making profit??

Fully agrees with you.

@Shines Dont say worth 5.00 to 10.00, as I can see it, it is below 30 sen, share prices tell all. BJC is just worth the share price trading at 26-27 sen now. Plans are just plans, anytime can change, even agreements can be terminated anytime after signing. If so confident push the share price up to 50 sen, I will sell to let whoever bought my shares to keep and wait to gain 4.50 to 9.50.

Since VT & BCorp don't care about minority interests including the remaining 7% institutional holders why ask for their support? You reap what you sows. Won't be surprised that more institutional holders will dump BCorp shares once the bad quarter results are out?

You already given the answer to the root cause of BCorp current woes...Just ask any oldtimer did VT shared anything? when BCorp was making money? That's why nobody wants to support BCorp now?

Guess who is smarter? Master VT or bilis? If the Revalued Net Asset Value (RNAV) is really RM5~RM10 after less BCorp net debts of RM7.73b, VT & Associates should pump BCorp's back to 50 sens & keep it there since according to your postulated gains is 10~20x?

simon2020 Actually BCorp's debts due within a year is 5.29b and debts falling due after that is another 6.20b. Even if you less 1.54b cash in hand & RM2.22b in receivables due within 12 months, it still has net debts of RM7.73b to pay off. If BCorp's creditors is to demand repayment, BCorp may need a major recapitalization from shareholders? So don't count the chickens before they hatches.

Why buy now when can get cheaper still??? Remember the lowest this year for BCorp when still generating income as economy then not under lockdown is 16.5 sens. Even VT bought most of his shares at 18 sens. A good entrepreneur like VT buys low & sells high. We should follow the Master.

All potential rewards postulated are ifs???, that is if VT really wants to share. Unless people are blind to reality. Most have taken profit or cut loss first. Better wait for latest Qtr. results if really want to invest in BCorp's future when the smoke clears in one to two years time since economy is so bad nowadays. Anyway don't think BCorp share price has reached bottom yet?

Actually BCorp's debts due within a year is 5.29b and debts falling due after that is another 6.20b. Even if you less 1.54b cash in hand & RM2.22b in receivables due within 12 months, it still has net debts of RM7.73b to pay off. If BCorp's creditors is to demand repayment, BCorp may need a major recapitalization from shareholders? So don't count the chickens before they hatches.

"The latest balance sheet data shows that Berjaya Corporation Berhad had liabilities of RM5.29b due within a year, and liabilities of RM6.20b falling due after that. Offsetting this, it had RM1.54b in cash and RM2.22b in receivables that were due within 12 months. So it has liabilities totalling RM7.73b more than its cash and near-term receivables, combined.

The deficiency here weighs heavily on the RM1.98b company itself, as if a child were struggling under the weight of an enormous back-pack full of books, his sports gear, and a trumpet. So we definitely think shareholders need to watch this one closely. At the end of the day, Berjaya Corporation Berhad would probably need a major re-capitalization if its creditors were to demand repayment."

Unless people are blind to reality. Most have taken profit or cut loss first. Better wait for latest Qtr. results if really want to invest in future when the smoke clears since economy so bad nowadays.

Have to agree with you unless people are blind to reality. Better wait for latest Qtr. results first if really want to invest since economy so bad nowadays.

scanluver More c0ckraider/bulldog fake accounts? C'mon la, people are not so dumb. 0.25 by next week. Save yourselves.

BToto, Hotels & Resorts, most Shopping Complex shops already closed for 2 months due to EMCO, the is no signs that Govt.will lift the restrictions any sooner due to high Covid 19 infections & deaths. With no cash from Cashcow, just wondering where BCorp will find the money to service the RM5 billion debts?Coming quarter results should be very bad! Don't be surprised if VT springs a default on the massive debts. Self survival more important for kaki lang, who cares about minority? You might not live tomorrow much less next 3 years?

Fact.
Pariah or not those who bought BLand early this year made 100% profit in March when share price hit 52 sens! Chances are that there will be another round coming before September? If doubtful just buy a little to book your tickets. Can always exit if things goes wrong.

Conclusion. En. Jalil & Team will be sharing more details of rationalisation plan & restructuring exercise for BLand once it is finalised (getting BOD approval) with public in more details.
1. Buy BLand first since all the value & hidden gems are here crucial to BCorp's unlocking of value before takeover announcement.
2. Buy BCorp later after BLand's takeover since all the value & hidden gems will be transferred to BCorp after the takeover.

En. Jalil's reply to SSlee's email from Lydia.

SsLee Dear all,
Just received below email:

Dear Mr Lee,

Good morning. Hope you are keeping safe and well.

Please find below the replies from Mr. Abdul Jalil Abdul Rasheed to your questions.

1. How can BCorp sell BToto when BLand owns 40.05% direct controlling shares in BToto when BCorp only has 8.57% direct shares in BToto?

This is currently in the planning stage and goes in line with the legal entity rationalisation exercise under our 3-year strategic plan. The key is to execute proper restructuring within the organisation, addressing the shareholding structures as mentioned. Rest assured, BCorp will be sharing to the public in more detail on this rationalisation plan once it is finalised.

2. What is BCorp's plan to resolve the public share spread issue of only 13.2% at BLand?

The regulator has given us an extension until the end of September 2021. Currently, we are exploring various avenues, including potentially restructuring the company. However, we will only be sharing more details about this exercise once it is finalised.

Thsnk you and kind regards,
Lydia

Key points of BCorp BOD clarification:
# En Jalil’s appointment was made to transform the BCorporation Group into an institutionalised group, managed by professionals.
# En. Jalil was mandated to relook at the BCorporation structure and amongst others to improve synergies & efficiency, streamline the various group businesses and to transform BCorporation into a high performing organisation.
#En. Jalil was answering possible permutations as to how he can structure the BCorporation Group to achieve the objectives of the restructuring exercise and the possibility of divesting certain assets during these public investor relations forums.
# The Directors of BCorporation will deliberate on the finalised proposals to be tabled to them for Board’s consideration and decision.

This Announcement is dated 16 July 2021.

Actually before presenting Jalil's Strategic Plan & ideas, he already presented internally during a Townhouse meeting with BCorp senior staff. Jalil only elaborated in more details during the Q&A session in the public online Investors Forum.

kahhoeng So transparent that Jalil has to present it to the public before the BODs???
Thanks Sslee for your reminder.

We are sure Jalil with his Mandate at BCorp already worked with VT as non-executive Chairman & Robin with contributions of the Board to come out with Jalil's Strategic Plans & Ideas unveiled earlier & elaborated on in more details by Jalil at various Investors Forum.

Sslee https://www.theedgemarkets.com/article/berjaya-corp-trading-volume-swe...

BCorp announced that Jalil will be working with its executive chairman Tan Sri Vincent Tan and Robin Tan as an executive committee, which together with contributions of the board members, will be involved in all strategic decision-making and planning of the future business direction of the group.

Jalil’s mandate, the group said, would be to re-look at its corporate structure, optimise financial and human resources, improve synergies and efficiency, and enhance corporate governance and transparency.

He is also entrusted to streamline the various group businesses to create and enhance shareholder value, as well as to transform BCorp into a high-performing organisation.

We will cross the bridge once the extension given by Bursa to end September expires. In order to protect BCorp & En. Jalil's interest very sure BCorp will share to the public in more details on this rationalisation plan on 13.2% public share spread issue with regards to BLand minority shareholders & how to takeover BLand's 40.5% controlling shares in BToto once it is finalised before September?

@Sslee you are welcome.

Since Bursa has queried BCorp on En. Jalil's restructuring plans with regards to matters raised below. It.is urgent on BCorp to share to the public in more details on this rationalisation plan on 13.2% public share spread issue with regards to BLand minority shareholders & how to takeover BLand's 40.5% controlling shares in BToto once it is finalised by September?

"The regulator has given us an extension until the end of September 2021. Currently, we are exploring various avenues, including potentially restructuring the company. However, we will only be sharing more details about this exercise once it is finalised."

Please find below the replies from Mr. Abdul Jalil Abdul Rasheed to your questions.

1. How can BCorp sell BToto when BLand owns 40.05% direct controlling shares in BToto when BCorp only has 8.57% direct shares in BToto?

This is currently in the planning stage and goes in line with the legal entity rationalisation exercise under our 3-year strategic plan. The key is to execute proper restructuring within the organisation, addressing the shareholding structures as mentioned. Rest assured, BCorp will be sharing to the public in more detail on this rationalisation plan once it is finalised.

2. What is BCorp's plan to resolve the public share spread issue of only 13.2% at BLand?

The regulator has given us an extension until the end of September 2021. Currently, we are exploring various avenues, including potentially restructuring the company. However, we will only be sharing more details about this exercise once it is finalised.

SsLee thxs for bringing up our questions to the attention of En. Jalil for his answers. Very much appreciated.

The fact that En. Jalil took the trouble to give an answer, points to the fact that BLand has value & hidden gems key to En. Jalil's Strategic Plan to unlock value at BCorp. Looks like BCorp Management is actively looking into the legal requirements for BLand's takeover to enable proper restructuring at BCorp.

Points of interest:
1. BToto is a subsidiary of BLand with 40.5% controlling shares. Under BToto there is BToto Philippines and under BToto Philippines is HR Owens(UK) & International Lottery Totalizator Systems (US). Under the Strategic Plan, BCorp plans to delist BToto Philippines first & moves HR Owens to BCorp. After which BCorp plans to sell BToto later. BCorp needs to take over BLand first before can initiate a legal & proper restructure as outlined in the Stategic Plan.

2. Most of the overseas 5 star hotels are under BLand. i.e. Icelandair Hotels has 21 hotels including 5 Stars Hilton Reykjavik & Four Seasons Okinawa under construction. For En. Jalil plan to establish a Hotel REIT under BCorp, these 5 Stars hotels need to be taken over from BLand legally.

3. BLand holds most of the landbank under Berjaya Group.

4. The RM650 million from HKIAC award to BLand for money owed by Beijing SkyOcean for purchase of GMOC should be due sooner or later will be useful for BCorp restructuring exercise if BLand is taken over.

SsLee Dear all,
Just received below email:

Dear Mr Lee,

Good morning. Hope you are keeping safe and well.

Please find below the replies from Mr. Abdul Jalil Abdul Rasheed to your questions.

1. How can BCorp sell BToto when BLand owns 40.05% direct controlling shares in BToto when BCorp only has 8.57% direct shares in BToto?

This is currently in the planning stage and goes in line with the legal entity rationalisation exercise under our 3-year strategic plan. The key is to execute proper restructuring within the organisation, addressing the shareholding structures as mentioned. Rest assured, BCorp will be sharing to the public in more detail on this rationalisation plan once it is finalised.


2. What is BCorp's plan to resolve the public share spread issue of only 13.2% at BLand?

The regulator has given us an extension until the end of September 2021. Currently, we are exploring various avenues, including potentially restructuring the company. However, we will only be sharing more details about this exercise once it is finalised.


Thsnk you and kind regards,
Lydia

Thanks Sslee for your reminder.
We are sure Jalil with his Mandate at BCorp already worked with VT as non-executive Chairman & Robin with contributions of the Board to come out with Jalil's Strategic Plans & Ideas unveiled earlier & elaborated on in more details by Jalil at various Investors Forum.

Sslee https://www.theedgemarkets.com/article/berjaya-corp-trading-volume-swells-following-appointment-jalil-rasheed-ceo

BCorp announced that Jalil will be working with its executive chairman Tan Sri Vincent Tan and Robin Tan as an executive committee, which together with contributions of the board members, will be involved in all strategic decision-making and planning of the future business direction of the group.

Jalil’s mandate, the group said, would be to re-look at its corporate structure, optimise financial and human resources, improve synergies and efficiency, and enhance corporate governance and transparency.

He is also entrusted to streamline the various group businesses to create and enhance shareholder value, as well as to transform BCorp into a high-performing organisation.

Don't worry, the new Board has just been appointed last month with VT as non-Executive Chairman. I remember when Jalil unveiled his Strategic Plans & Ideas, he mentioned in his Tweet that they will be presented for Board approval. It's a good idea to present the strategic plans & ideas for investors feedback & response before fine tuning for Board deliberations & approval.

Spot on! Very sure Jalil has VT's tacit approval to share BCorp's Strategic plans & directions at wInvestors Forums some more. Anyway the fact that Jalil mentioned that BCorp already closed Cosway's money losing biz in China to focus on Malaysia even before announcement by BCorp, to delist BToto Philippines & put its hotels in Vietnam, Seychelles, Sri Lanka & Manila for sale which is part of Jalil's Strategic Plan & ideas implies agreement by VT even before Board approval?

Logically BLand share price should be higher than BCorp as BCorp shareholders already enjoyed share dividend. Also before the sell down by Penta & PCM Industrial in 2019, BLand was priced at 38 sens vs 30 sens for BCorp.
https://www.edgeprop.my/content/1467250/bcorp-acquire-461-berjaya-land-rm87m

stockraider The Board is just a rubber stamp lah!
If Jalil & VT can agree is already a done deal mah!

Goldenhorse And then again possible share swap to bcorp shares. that's the reason the price has been tallying. bjland should not overpriced bcorp

That right! VT likes Jalil's Stategic Thinking & ideas so much as to reward him with a directorship today at Cardiff FC right after all his talks on BCorp Transformation & Value Creation.
https://themalaysianreserve.com/2021/07/16/cardiff-city-appoint-jalil-as-non-executive-director/

Not a big issue as the CEO's strategic plans & ideas will be tabled to BOD for approval probably by next month. The CEO is the Captain to steer Berjaya, the shareholders & BOD is the beneficiaries of the CEO's strategic plans & ideas to unlock value at Berjaya Group.

Role of the Group CEO
The Group CEO is responsible for the day-to-day leadership and management of the business, in line with the Strategic Framework, risk appetite and annual and long-term objectives approved by the Board. ... The Group CEO represents the Company.

The board's key purpose "is to ensure the company's prosperity by collectively directing the company's affairs, while meeting the appropriate interests of its shareholders and relevant stakeholders"

"The Board of Directors of BCorporation is not aware of and has not deliberated any of the abovementioned strategic plans. The Directors of BCorporation will deliberate on the finalised proposals to be tabled to them for Board’s consideration and decision.

This Announcement is dated 16 July 2021."

To get an idea for a Win Win privatization model for both BLand & BCorp shareholders. Refer Ancom privatization model for Nylex?
https://www.theedgemarkets.com/article/ancom-proposes-buy-remaining-nylex-stake-confirms-edge-report

It's a chicken & egg situation, Jalil needs to takeover BLand to get its 40.5% controlling shares in BToto before can sell, 5 Stars hotels such as 20 hotels under Icelandair hotel group, Four Seasons Okinawa under development for Hotel REIT, landbank & RM650 million due from SkyOcean for sale of GMOC under HKIAC Arbitration award due soon in order to unlock value for Berjaya. I will put money on BLand first and later in BCorp after the privatization exercise.

Profit taking well absorbed, anyway interco selling by Hotel Resort & Sompo not much shares left only 1.77%. Refer table from SimplyWallstreet attached below.
https://ibb.co/Wy7crR5

Some people maybe VT associates in sheep's clothing pretending to be minority so naturally is not happy with Jalil's dirty mouth to leak out their plans in advance. Anyway we think VT believes in Jalil's strategic thinking to unlock value at Berjaya so as to appoint him a director at Cardiff FC to tap his brains.
https://www.freemalaysiatoday.com/category/sports/2021/07/15/cardiff-city-appoints-jalil-as-non-executive-director/

Spot on! Since BCorp & Associates already controls 86.8% of BLand. BCorp & Associates needs to acquire at least 95% of 13.2% = 12.54% minority shares to delist BLand. That means BCorp needs 99.34% and not the normal 90% to delist BLand.

Dirty mouth or not, VT believes in Jalil strategic thinking for unlocking value at Berjaya. VT even appointed Jalil at Cardiff FC for his brains.

https://www.freemalaysiatoday.com/category/sports/football/2021/07/15/cardiff-city-appoints-jalil-as-non-executive-director/

Yes! Hold tight! Ini Kali Lah!

Jalil needs to takeover BLand which is the real cash cow before can unlock value at BCorp so the privatization announcement may comes before Sept and completed by December?

All the overseas 5 star hotels such as Icelandair Hotels & Four Seasons Okinawa under BCorp planned Hotel REITs are owned by BJLand.

"Berjaya Corp Bhd (BCorp) plans to privatise subsidiary Berjaya Land Bhd (BLand) and sell Berjaya Sports Toto Bhd (BToto) under the diversified group's strategic transformation plan, which includes a proposed hospitality real estate investment trust (REIT)."
https://www.theedgemarkets.com/article/berjaya-corp-plans-delist-berjaya-land-sell-berjaya-sports-toto

Four Seasons Okinawa is developed by Berjaya Okinawa Development Co. Ltd., a wholly-owned subsidiary of Berjaya Land (BLand) Bhd, in partnership with Four Seasons Hotels and Resorts (Four Seasons).
https://www.nst.com.my/property/2020/10/636608/three-years-complete-four-seasons-okinawa-says-berjaya-chief

BERJAYA BUYS INTO ICELANDAIR HOTELS…WITH US$10M COVID-19 DISCOUNT
https://thpt.co.uk/berjaya-buys-into-icelandair-hotels/

Nope! BJLand owns 40.5% of BToto, most of the landbank, HR Owens and also 20 hotels under Icelandair Hotels in Iceland.
https://www.theedgemarkets.com/article/berjaya-land-seeks-entry-icelands-hotel-market-acquisition
https://stocknews.my/posts/9954/berjaya-land-fulfils-all-conditions-in-icelandair-hotels-stake-buy-deal

BJAssets only have these assets:
"Berjaya Assets is the developer of Berjaya Times Square, one of Malaysia’s largest retail and commercial projects which has now become an international landmark for Kuala Lumpur city.

The group also owns Natural Avenue Sdn Bhd which is a Number Forecast Operator in the state of Sarawak. In Johor Bahru, the Group owns the Berjaya Waterfront Hotel and Ferry Terminal."