Posted by Eddysurge > 2020-03-17 11:04 | Report Abuse

One sided hand can't clap.

Posted by wantanmi > 2020-03-17 11:16 | Report Abuse

Yup ur right! :)

Posted by prince4 > 2020-03-17 15:46 | Report Abuse

Covid-19 make economy slow down company fundamental will metamorphism and company with high debt will face collapse or bankruptcy soon.Expect local and foreign funds money would not flow in big cap and mid cap stock because everybody scare buy high losses money . In this few month expect Funds manager money would flow out in bigcap and midcap stocks and will short selling midcap stocks for make money so now no prospects cannot buy and hold.
market stock RM10 drop to RM5, RM5.00 drop to RM 2.00 , followed RM2.00 drop RM1.00, followed RM1.00 drop to 50 cent, followed 50 cent drop to 20cent ,followed 20 cent drop to 10cent ,followed 10 cent drop to bottom.
High debt company cannot hold ,high prices stock cannot hold , MARKET NEVER SLEEP MONEY NEVER SLEEP just BUY BOTTOM LOW PRICES WITH CASH COMPANY . This is a OPPORTUNITY markets SMART MONEY no longer will FLOWS in cheapers stocks market will GORENG lows price stock at BOTTOM.

Posted by OceanSky > 2020-03-18 08:36 | Report Abuse

Dear all,
With cahs payment of RM1.87 Billion to BjCorp group (of course 935 million flow to BjLand).
This is the best time ever for BJCorp to carry out share buy-back option.
They have mandate to buy back upto 10% of the total shares, which is 530 million shares.
They have collected 87.1 million, refer the above.
Take an average of 10 million shares buy back from market everyday.
They only need less than 45 days to complete this task.
This mean by next quarter report, scheduled to be announced by 30-05-2020,
They could be finish buying the 530 million, and make balance of BjCorp shares of 4,870 million.
The result of the share buy back will improve the NA of BjCorp from 1.23 to 1.33.
Up 10 sen, as the share buy back will cost them 20~23 sen per share.

Posted by OceanSky > 2020-03-18 08:52 | Report Abuse

Follow the above,
Is the above share buy-back "End-game" for BjCorp?

The answer is NOT.

BjCorp could have two options:

1) To distribute back those shares to the remaining share-holders;
Means distribute 1.1 share for every 1 share held at May-2020.
This will take some times, for notice to public and distribution exercise.

2) To cancel those share bought back.

Once either option was done, BjCorp could re-start the share buy-back again.

With option 2, the NA will up-lift from 1,23 to 1,33, then to 1,43, 1,53 ...

Of course, each round of share buy-back, will cost them RM120 million,
Believe two rounds of share buy-back is within the acceptable strategy.

Posted by wantanmi > 2020-03-18 09:22 | Report Abuse

There will be an arbitrage gain to be made by syndicates between BJCorp/BJLand in a share swap to realize VT's public proposal to delist BJLand in order for BJCorp to gain from BJLand's share of cash hoard from sale of FSKyoto & compensation from Berjaya Jeju project and GMOC arbitration...

Posted by Eddysurge > 2020-03-18 09:59 | Report Abuse

Beyond my imagination!

Posted by Mikecyc > 2020-03-18 10:06 |

Post removed.Why?

Posted by Mikecyc > 2020-03-18 10:08 |

Post removed.Why?

Posted by wantanmi > 2020-03-18 10:26 | Report Abuse

Yup! BJCorp needs lots of cash to stay afloat & BJLand got lots of cash and cash cow BJToto. The only way BJCorp can benefit from BJLand's cash is a share swap...talking about killing 2 birds with one stone...

Posted by Eddysurge > 2020-03-18 10:50 | Report Abuse

Bjland got a lot of cash? Future cash??

Posted by ironrobe3388 > 2020-03-18 10:54 | Report Abuse

Hopefully Jeju case will come to the end in the next two months with a huge compensation.

Posted by Eddysurge > 2020-03-18 10:57 | Report Abuse

Jeju case will no gets a lot big compensation instead replaced with supplement projects.

Posted by OceanSky > 2020-03-18 11:08 | Report Abuse

Eddysurge,
BjCorp reported Kyoto Sales of RM1.87 Billion, (it is as group level).
The Kyoto Hotel is 50:50 split between BjCorp and BjLand.
Therefore, both BjCorp and BjLand shall share the cash payment of RM935 million each.
At the end of the deal, which have been done, each party have RM210 million nett gain.

This is the beauty of Listing announcement.

As BjLand hold 50% of Kyoto Hotel, but they only classify this Kyoto Hotel as Associated Co.
The reason is back to year 2015, BjLand have run out of cash/capital to continue on the
construction of the Kyoto Hotel. They seek for help from BjCorp, to take-over 50% shares of Kyoto Hotel and finish up the Hotel in year 2017.

Therefore, all the glory named under BjCorp, however the actual fruit will be shared among them.

Posted by Eddysurge > 2020-03-18 11:13 | Report Abuse

My blessings to both.

Posted by Eddysurge > 2020-03-18 11:22 | Report Abuse

@ Oceansky, have you read Simple Wall Street article published on Google couple days ago regarding bjland, what's your opinion?

Posted by wantanmi > 2020-03-18 11:43 | Report Abuse

Why worry so much? when BJCorp balance sheet is a bigger concern...

https://simplywall.st/stocks/my/capital-goods/klse-bjcorp/berjaya-corporation-berhad-shares/news/does-berjaya-corporation-berhad-klsebjcorp-have-a-healthy-balance-sheet/

Posted by scanluver > 2020-03-18 14:20 | Report Abuse

Don't forget to thank the guy who called 0.18 while self-proclaimed sifus are soliciting you to buy in with everything you have. Where happened to all those Huat-Huat idiots? :D

Posted by scanluver > 2020-03-18 14:30 | Report Abuse

A reverse stock split may be in the cards with all that buyback. Good luck? :P


wantanmi Why worry so much? when BJCorp balance sheet is a bigger concern...

https://simplywall.st/stocks/my/capital-goods/klse-bjcorp/berjaya-corp...

Posted by wantanmi > 2020-03-18 15:03 | Report Abuse

Yup! Looks like parity between BJCorp/BJLand is sooner or later. Better makes hay while the sun shines

Posted by Eddysurge > 2020-03-18 15:08 | Report Abuse

Cash is king.

Posted by wantanmi > 2020-03-18 15:19 | Report Abuse

Long live the King! Psst can always buy back later at a lower price...

Posted by kahhoeng > 2020-03-18 15:36 | Report Abuse

BJCorp debt is not as high as shown in balance sheet.

1. BJToto carries a net debt of over 700 million that's reflected into BJCorp's balance sheet.

2. BJLand also carries a net debt of over 2 billion, of which is BJToto's (BJLand's net debt would have been 1.6-1.7 billion if BJToto's excluded. If Kyoto Four Season is sold with cash transferred, and BJLand is really receiving 900 million (I have yet to see an announcement on BURSA,) BJLand's net debt is ONLY 700-800 million.

3. BJCorp's net debt is around 4.2 billion, but that includes BJToto and BJLand's. If they were excluded, BJCorp's net debt is around 1.8-1.9 billion. Should the proceed from Kyoto Four Season channeled back, BJCorp's net debt should be around 1 billion.

Question is: How much BJCorp and BJLand have received from the disposal.

Posted by wantanmi > 2020-03-18 16:02 | Report Abuse

Thxs for confirming that BJLand's net debt is ONLY 700-800 million vs BJCorp's net debt should be around 1 billion. Smart money should know which is the better deal at current price

kahhoeng BJCorp debt is not as high as shown in balance sheet.

1. BJToto carries a net debt of over 700 million that's reflected into BJCorp's balance sheet.

2. BJLand also carries a net debt of over 2 billion, of which is BJToto's (BJLand's net debt would have been 1.6-1.7 billion if BJToto's excluded. If Kyoto Four Season is sold with cash transferred, and BJLand is really receiving 900 million (I have yet to see an announcement on BURSA,) BJLand's net debt is ONLY 700-800 million.

3. BJCorp's net debt is around 4.2 billion, but that includes BJToto and BJLand's. If they were excluded, BJCorp's net debt is around 1.8-1.9 billion. Should the proceed from Kyoto Four Season channeled back, BJCorp's net debt should be around 1 billion.

Question is: How much BJCorp and BJLand have received from the disposal.

Posted by kahhoeng > 2020-03-18 16:19 | Report Abuse

wantanmi, I am saying IF BJLand did really receive 900 million cash from the disposal, which BJ investor relation has failed to reply to me thus far. Besides from a liquidity concern, i.e. 85% been held by BJCorp and VT leaving the shares not desirable to many, BJLand has failed to provide sufficient transparency to assure minorities. Not to mention an Iceland deal that come out of noway, yet dare to say cheap, without putting minorities concern into consideration.

Posted by OceanSky > 2020-03-18 16:24 | Report Abuse

@Eddysurge,
I missed that article, can you share with us here?

Posted by hng33 > 2020-03-18 16:25 | Report Abuse

bought bjcorp at 17.5sen

Posted by KAQ4468 > 2020-03-18 16:26 | Report Abuse

10 cent can arrr ???

Posted by OceanSky > 2020-03-18 16:35 | Report Abuse

We refer to below:

We refer to the announcement dated 28 February 2020 in relation to the Proposals.

On behalf of the Board, Maybank IB wishes to announce that the Disposal was completed today following the settlement of the Total Consideration by the Purchaser in cash and BKD has on even date entered into the Lease Agreement with the Trustee and the Purchaser.

This Announcement is dated 10 March 2020.

Therefore, it si sure that full payment received, as at above.

Posted by freetospeak > 2020-03-18 16:40 | Report Abuse

bjcorp is buying bak the share so that they can use it to privatise bjland thru share swap..i suppose..if not no need share buy bak. they will buy bak til may then wait for new year for new mandate to issue more new share. than use it for share swap like the penta deal.

Posted by wantanmi > 2020-03-18 16:48 | Report Abuse

It's time to take advantage of the arbitrage difference in a share swap between BJCorp/BJLand..

Posted by kahhoeng > 2020-03-18 17:13 | Report Abuse

freetospeak, there's no need share buy back to privatize BJLand, BJCorp needs only to issue more shares...

Posted by Eddysurge > 2020-03-18 17:14 | Report Abuse

@ Oceansky, https://simplywall.st/stocks/my/consumer-services/klse-bjland/berjaya-land-berhad-shares/news/berjaya-land-berhad-klsebjland-has-a-somewhat-strained-balance-sheet/

Posted by kahhoeng > 2020-03-18 17:27 | Report Abuse

Eddysurge, from your provided site,

The NET DEBT at about RM 2.23 billion has not excluded the 700 million net debt BJToto is carrying. If this amount is discounted, BJLand net debt is a mere RM 1.5 billion. And if Kyoto Four Seasons sale proceed is truly 900 million to BJLand, the net debt will be further reduced to RM 600 million.

What Is Berjaya Land Berhad’s Net Debt?

The image below, which you can click on for greater detail, shows that Berjaya Land Berhad had debt of RM2.91b at the end of June 2019, a reduction from RM3.25b over a year. However, because it has a cash reserve of RM680.1m, its net debt is less, at about RM2.23b.

Posted by OceanSky > 2020-03-18 18:53 | Report Abuse

Thanks to Kahhoeng,
He has give further explanation on BjLand net debts, once exclude debt carried by BjToto.

My comment on the said BjCorp and BjLand analysises are, they did not factor in the recently completed deal on the Kyoto Hotel disposal which bring in RM1.87 Billion cash, and RM1.6 Billion to be used to pay back the debts, on BjCorp level, and take half on BjLand level.

Both BjCorp and BjLand will have much better debt positions after the above settlement.

Further to the above, once the Jeju and GMOC deals are completed, their debt positions could be even better.

Posted by freetospeak > 2020-03-18 20:52 | Report Abuse

Wat i mean is they buy bak 10% at low price, then issue 10%...to privatise n to maintain share price.

Posted by freetospeak > 2020-03-18 20:53 | Report Abuse

If they jus issue new share ...will dilute the nta...might as well seize this opportunity to buy bak at low price.

Posted by freetospeak > 2020-03-18 20:56 | Report Abuse

They buy at 19 sen now...without diluting nta...issue new share for swap..after ther merger..bjcorp rise to 40 sen....bjland n bjcorp shareholder both happy...then issue dividend for bjcorp...coz got cash after merger....sweet dreaming may b...haha

Posted by freetospeak > 2020-03-18 20:58 | Report Abuse

During normal time they cannot buy bak at such cheap price so easily..

Posted by freetospeak > 2020-03-18 21:02 | Report Abuse

If not for merger...bjcorp so stingy will not spend so much money buy bak...mus b for corporate exercise.

Posted by freetospeak > 2020-03-18 21:06 | Report Abuse

May b they can buy bak at 15sen 10 sen later...now dun buy when buy..best time to buy for merger..

Posted by freetospeak > 2020-03-18 21:08 | Report Abuse

Imagine they only spend 40 million to buy bak 400 million share if market collapse...vt will laf even in dream...

Posted by ironrobe3388 > 2020-03-19 08:41 | Report Abuse

share swap caused sell down of bjcorp last year. do you seriously think VT will do the dumb thing twice ?

Posted by Eddysurge > 2020-03-19 09:33 | Report Abuse

VT said thanks you to concerns over me. Currently , is the best time for all owner except have to continues pay out wages & salary.

Posted by Eddysurge > 2020-03-19 09:36 | Report Abuse

Bjcorp have sufficient liquidity & assets values.

Posted by Eddysurge > 2020-03-19 09:39 | Report Abuse

Better provides me, how to avoid taxation & salary paid out.

Posted by Paulnga > 2020-03-19 15:27 | Report Abuse

Force selling!

Posted by hng33 > 2020-03-19 16:53 | Report Abuse

sold back bjcorp at 20sen

Posted by ignissimia > 2020-03-20 00:01 | Report Abuse

Only another 394m shares left to buyback at hugh discount to NAB. Even as the Treasury gobbles up shares from the market and nudges the NAB of the outstanding shares higher and higher, the market price remas n below 20c compared with RM1.2031 as at 31.12.2019 (2Q2020Report).

Posted by kahhoeng > 2020-03-20 00:03 | Report Abuse

Reply from BJLand investor relation

Apologies for the late reply.

Please find below the response to your queries.

With reference to the Kyoto Four Seasons disposal, may I know :

if the board has considered letting Four Seasons deal directly with the new owner instead of through an entity owned by BJCorp/BJLand? Is the arrangement in the proposal offer a better returns, current and future? If yes, what's the additional total return looks like?
Berjaya: The Purchaser has requested that Berjaya continues to deal with Four Seasons based on the good performance and track record as well as other projects with Four Seasons. Hence, the Proposed LeaseBack following the proposed disposal of the trust beneficial interest in the hotel component of Four Seasons Hotel & Residences Kyoto, Japan (“Hotel”).


(2) if BJLand's shareholders be required to attend a BJLand EGM for the said disposal like in the case for BJCorp?

Berjaya: Pursuant to Listing Requirements of Bursa Malaysia Securities Berhad, BLand is not required to make any announcement and BLand shareholders’ approval is not required for the proposed disposal of the Hotel. Nevertheless, BLand has voluntarily announced a summary of the proposed disposal to Bursa Securities for information purposes.



(3) if the management of BJLand too busy or finding BJLand minorities ignore-able to simply refer BJLand minorities to BJCorp's announcement? There's a section in the BJCorp's proposal that evaluate the effect of disposal on BJCorp's net asset, gearing and earning. There isn't any such disclosure on BJLand's. Are minorities of BJLand not entitled to know the disposal impact on BJLand's net asset, gearing and earning?

Berjaya: Any announcement made is in compliance with the Bursa Securities Listing Requirements. In this case, BLand is not required to make any announcement. Please refer to our reply under Q2 above.



(4) During 2018's AGM, I have requested Tan Sri Vincent Tan to consider a dividend given a recovered balance sheet of both BJCorp and BJLand, and I was told there'll be one for FY 2019. Unfortunately, there's any for FY 2019 despite asset disposal in Vietnam. When the issue of dividend was raised again during 2019's AGM, Tan Sri Vincent Tan promised me that a dividend shall be offered to minorities upon the disposal of Kyoto Four Seasons. However, reading through proposal, it's a huge disappointment realizing that there isn't any allocation for dividend. May I know if Tan Sri Vincent Tan is aware of this? If a decision has yet to be made, may I plead to both the board of directors of BJCorp and BJLand as well as majority shareholder, Tan Sri Vincent Tan, to honor Tan Sri's words during both AGMs?

Berjaya: The Executive Chairman of BCorp is also the major controlling shareholder of BCorp and he supports all dividend payout proposed by the Boards. The Boards of BCorp and BLand will do their best in the interest of their shareholders, in particular the shareholders’ requests for 2019/20 dividends. The Boards will look into the proposed dividend after taking into consideration the financial positions, performance and commitments of the BCorp and BLand group of companies.







Thank you and kind regards,
Lydia