start moving upward

Offer! Offer! last call last call.

47.5 ai lai liao

if atuk got misai, hehehe, casio op short one n

wow got double meaning

Wow, deep le!

Wow, itchy itchy. Any idea of Director's converted ICULs can be traded?

The Company is trending in accumulate cash, turn its investment asset into cash one by one. Y raise so much cash? A / few new large project going to launch? Keep your eye on it.....

hand itchy, bought in some more.

seems like the price constraint at 48 ~ 48.5!?

tq! tuk.

tuk, purge a bit.

Following the completion of the Placements, BGroup shareholdings in BAuto has
reduced from 50.47% to 44.28%. That means this golden goose no longer the subsidiary of Bj Corp and so for the control power. Get 2-3 sen and losing a gold pot.

Just bear in mind, bj Corp = VT but VT =/= Bj Corp and so for those Bj xxxx.

Do not make your mind too complicated. Who own the stock, he is the beneficially.

We can view the transaction in this scenario, the bought back own shares will be another tools to the Master and uncertain to the Company and minority shareholder.

Just take a look at Bj Land, bought back and than cancelled? No leh! sold back to market. Hahahaa

if you say the cash flow change without bring up the profit, it is possible that
no gain for the disposal with condition the settlement must be done in the same period;

or it could be

the gain has been offset by other disposal or operating loss....

profit bring up cash inflow provided the cash must be received within that period too. Same with loss if the expenses not pay out, it won't have outflow.

not like that.

Cash inflow incur by change its asset investment to cash and so for profit but not the loss. The realized gain or loss must bring into P & L.

We should not interpret disposal asset's gain converted to cash without any impact to profit.
Cash flow is an indicator of the cash use direction for that period, either cash generated or cash spend more. There is no impact to its account and the summary performance report - P & L.

Earning not means 100% must be tax, it depends on the tax regulation.

Got cushion at 48. 130K lot waiting for it. tuk, you Q it?

BJ Land 5billion issued share @ .8x
Bj Corp 4.3billion issued share @ .4x

cfoong, privatize Bj Corp at lower cost and get everything.

The company share back back also helping the privatization exercise.

cfoong, that is also what I am worry. If privatized happen means not only no return but subsidize the tycoon 2b more richer. The lower the price is, the less cost need to be used.

you can see quite a number of good company had delisted in Bursa years back.

Maxis, Astro, Audrey, up down up. Not price but the listing.

We should classified those property as investment assets and not operating asset.

Some company have huge asset and this asset is needed in their operating just like the plane in airline company. Those asset will depreciate according to its life use. This purchase of the plane cannot be one time written off as cost of service. The total cost will be divided to the useful life and in each period, giving an appropriate cost for it. If the Management cannot achieve break even in their operating, means chia lao bi and the continuous loss sure will bring the company to bankruptcy if no new capital to pump into it.

For the assets hold by BjCorp, most of the value asset are the lands and properties. For the freehold land, there will no depreciation incur. Operating lease will accounted for a leasehold land. For the building, normally a 50 years useful life time is take in considered.

If we take a look Bj Corp business nature, it is an investment holding company. In normal practice, an investment holding company is hardly to get an operating profit in short term. Their profit will only be realized after disposal of their long term investment. If you wish to realized your gain in a very short period, that means you have choose a wrong counter and not because this counter is not perform as expected. I propose better you take a look in IT counter as whenever their R & D succeed to innovate a new technology products for the company, it definitely will make you a huge gain. However, its life time is very short and the R & D huge expenses does not 100% bring the good result. One more thing, not everyday is Sunday for you.

Most of the investments done by Bj Corp had achieved a good return. Those appreciation in value is haven't reflected in Bj Corp's share price. That is why Calvin promote this counter for its hidden value.

If we ask how come the price is not up but down all the way? Hmm, ask about yourself, before the price further up, how you treat the shares you had already hold?

Agreed. if you want people respect to you, please respect others first.

As long as no privatization, Bj Corp still consider a good choice for your portfolio.

This point I like. Thank you Calvin.

Thanks Calvin.

But 1 thing

Bj Corp 100% owned Bj Group Bhd
Bj Group Bhd owned 52.5% Bj Land Bhd
Bj Land Bhd owned 41.4% Bj Sports Toto Bhd
Bj Sports Toto Bhd owned 100% Magna Mahsuri
Magna Mahsuri owned 100% Bj Sports Toto (Cayman) Ltd
Bj Sports Toto (Cayman) Ltd owned 100% Bj Lottery Management (HK) Ltd
Bj Lottery Management (HK) Ltd owned 74.12% Bj Philippines Inc
Bj Philippines Inc owned 4.42% The Store via Inter-Pacific Equity Nominee (Asing) Sdn Bhd

This 4.42% The Store = 3030000 units shares
RM2.88/share means RM8,726,400

16.1099% x RM8,726,400 = RM1,405,821
Bj Corp still got RM1,405,821 value if disposed off The Store.
But problem is this fund only goto Bj Philippines Inc. Is Bj Philippines Inc. willing to return back in kind of dividend/ bonus share/ or share buy back to/from Bj Lottery Management (HK) Ltd.

If so, is Bj Lottery Management (HK) Ltd. willing to do the same to/from Bj Sports Toto (Cayman) Ltd?

and than the same question from Bj Sports Toto (Cayman) Ltd ...... Bj Group Bhd?

1 issue, 41.4% control in Bj Sport Toto by Bj Land, means need other party to agree.

I ready don't understand Y the structure created in so complicated form?

If say in tax purpose, than Y Bj Corp's tax is so high!
If say to hide the actual investor, than the name Bj appear?

anybody can help to clear my doubt?

in what way? I mean hold by which company?

Calvin, you mean Bj Corp have shares in The Store?

if 45, that means 10% loss for those bought at 50
if 40, it will be 20% loss

wow, 10, that means 80% capital gone.

not so much la. no worry, b4 fall to 25, this corp already privatized.

pay less than 1 billion ringgit and get 100 billion worth asset. A long Q le!

that is the price it paid for.
not the concern of any under value.
huge debt.
poor management.

all those factor never and never take in consider in Malaysia stock price.

Published: 25 June 2010

KUALA LUMPUR, June 25 — Datuk Seri Najib Razak capitulated to popular public opinion tonight when he announced the government will not issue a football betting licence, weeks after tycoon Tan Sri Vincent Tan said his Ascot Sports Sdn Bhd had received approval for an old licence.

- See more at: http://www.themalaysianinsider.com/malaysia/article/najib-says-no-to-football-betting-licence#sthash.N2873oG8.dpuf

1.02 .... 1.60 .... 1.87 .
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.
.
.
.
.
and still landing in KLIA, op no may be in the ocean......

That is past.

myview, that is the standard Q & A as MOLG is not a subsidiary of BJ Corp.
BjCorp owns a little share portion and it is indirectly. Just like us, as a minority, do you think you can do something with BJ Corp?

Bj Corp is a 潛水艇.

The size is huge. The capacity also huge. Its price always reflect its sinking level. The more it go, the deeper it is.

By when, it can change to a space boat?

7Eleven and Cosway is totally different concept.

7Eleven is a convenient shop. The price of goods sell is much higher compared to sundry or supermarket. Why it can stand, because it give you convenience and no better choice at certain hour (night time). So you are willing to pay higher price for it.

Cosway is concentrate on value to products. The products quality vs price is very reasonable.

In business, we should put the cost as low as possible but in certain circumstances, certain cost is a must to incur.

Do you think a gambler can operate a bank?
The answer is definitely No? Y, think about it.

atuk said he wear the yellow shirt

AGM mah

Calvin, r u going?
I can sign the proxy form 2 u.

this is last offer may be, than shot up at 4:5xpm
angbao angbao

tuk, stop dumping, give some face to VT's son, or else tomorrow t ow ow.

or Big Joke Club?!

Got point, Calvin. Bj Corp Hurray!

Does she buy on or after 16 Oct ?

jyou, my advise to you is bjcorp =/= calvintaneng =/= bjcorp

he is not the main shareholder and also not the top management but may be a private fund manager

whatever the view point given by him just treat it as a show or advertisement.

if and only if the point bring by him is logic and truth, no harm to take it into consideration or else just ignore it or fire back.

true speaking, sometime he also bring some good points.

no worry, everybody are learning.

kahhoeng, you are right. You may set the period to a quarter, half a year, a year also does't matter. The most important is aware the impact of the move.

For the debt, most are long term, have you think before how much cost you have to absorb for each wrong move? If the loan is 5 years, 10 years or may be longer, what is the total cost has been offset by the generated profit?

For a big entity like this, why so hard to make profit from the operation?
~ most of the opportunity was neglected.

Just for example,
a young man A whose family is loaded. He never suffer any money problem. Just waiting the passive income derived from the family's wealth, say 100K per month but he need to spend 110K each month.

Young man B don't have money. He have the brain and mind how to generate income. He always make sure in each year, his income must grow at least 30% but expenses should not grow more than 10%.

If you are a pretty lady, you prefer A or B?

and now, as an investor, will you choose A and than sitting there and pray hope the appreciation of the wealth will bring benefit to you. May be yes but most of the time, before the good time arrive, the appreciation already been converted to the overhead. You can feel the figure is huge but that is not yours. People enjoy in real life and you are enjoy in your imagination.

If the Management each move will take care of the Company, without buy back its own share, the price also can fly high. Please be practical.

If the outcome is making loss, oh no man,

loss per share will deteriorate. (the base is lower)

By that time, will you propose the board to dispose the treasury share at market price?

and do you think at that moment, price still can stand at or above RM0-50?

Unless still got a lot of idiot making investment. Maybe.

especially to muimui

qtr ended 0714, reported profit after tax RM8,282,000-00,
assume total issue share 4,300,000,000
eps = 0-1926

by using RM10,000,000-00 to purchase the share at RM0-50
or settle the loan with 5% interest, what is the impact?

purchase share,
profit remain, total share reduce by 20,000,000 @ 4,280,000,000
eps will be 0-1935 and improved by 0-0009 immediately

loan paid off
additional profit 500,000-00 captured by next report (save from interest paid)
now the profit will be RM8,782,000-00
and eps 0-2042 by improved 0-0116

[for calculation and comparison purpose, qtr compare yearly basis was ignored & some figures are rounded, and certain condition please allow remain unchanged]

Which result will be better? numeric never lie but can be manipulated.

Does this mean in my view point?
In short term, the eps improved but NO BETTER FUTURE for the entity.

It does not imply no good future but can't better with this purchase back move to the entity performance compared to if the Management using the fund to paid off part of the debt.

So don't people drawing a dragon, you also follow but the picture you drawn is look like a snake. Then sure people will hohohoohooo.

Just for discussion, don't keep in heart.

As mentioned, numeric game. If your decision in purchase a share at a certain price level is based on the judgement of its eps, and not the capability and ability to generate its profit, than you are falling in the ratio trap. No doubt in certain circumstances this move is to help good score of the so call rating in financial analysis, what do you think of the management skill in utilizing its fund?

To raise capital by issuing new shares, does it zero cost?
Spend and thereafter buyback, not only wasted the initial fee in issuing share but also incur new expenditure, brokerage fee, stamping fee, clearance fee, right? Will it a bit wasted?
To buy back the share will it helping increasing the total net profit in an entity? Definitely No but will reducing as some new expenditure must have.
If we look at the financial interest the group pay out each year? Y not using this fund to reduce its debt and immediately the profit will realized. When debt less, the ratio score also get improvement even can negotiate for better funding rate.

A good Management will only consider to exercise the share buy back [last skill] is only when no better business opportunity, no debt, cash excess, and ready no better hope, than deducing its capital size.

Do not forget, the Management is paid in salary and in kind benefit. They have the duty and responsibilities to maximize the Company's interest and should not only considered the shareholders short term interest. The shareholders will getting the return from the good performance and result of the invested company.

I correct my view point
In short term, the eps is improved, however it also means NO BETTER FUTURE for the entity.

I always believe the same strategy and tactic does not getting the same outcome when apply in different kind of case.

using internal fund to buy back own share could explain as Management had no idea for better investment.

Just like to Increase our wealth, we should make more revenue and not by cutting expenditure in order to generate more profit. If you have 100m in your expenses, the most profit you able to obtain is up for this 100m by cut off all your expenses . If you have solution to up the revenue, there is no upper limit and the profit also will up accordingly.

In short term, the eps is improved, however it also means NO FUTURE.

It is still an numeric game.

fall back to price 5 - 6 years ago. does this means this 5 years efforts wasted?
interesting rite?

might be market over sensitive.
or
this counter ready hmm...

If each year unable to give value added for at least 5%, ready a lousy counter. All the directors should not entitled for director fee and all type of in kind benefit. All the top man also should early retire.