Forum : Stock: [BJCORP]: BERJAYA CORPORATION BHD

Lol...Uncle Tan has given the signal with strong buyback on BJCorp and BJLand...dividend & privatise could be next theme play if you guessed who's the next target after BJAsset & BJCorp?

stockraider

31,556 posts

Posted by stockraider > 2022-12-20 11:51 | Report Abuse

Mari....mari....mari!!!

q1029384756

27 posts

Posted by q1029384756 > 2022-12-21 17:11 | Report Abuse

Malaysia Berjaya Corp Seeks BNM Nod To Turn Itself Into Financial Holding Co-Chairman - NewsRise
KUALA LUMPUR (Dec 15) -- Malaysia's Berjaya Corporation is seeking approval from the central bank to turn itself into a financial holding company from a consumer conglomerate, its chairman said Thursday.

"The company is looking to get approval from Bank Negara Malaysia to be a financial holding company," Vincent Tan said at the annual shareholders' meeting.
As part of the process, BNM has requested Tan to reduce his holding in the company to 19.9%, he said in response to a query on his recent stake sale.

However, he declined to elaborate further on the ongoing process. Berjaya Corp’s financial services businesses include stockbroking, asset management, insurance, and credit leasing.

At the same time, Berjaya Corp remains in talks to sell several non-core assets as part of an ongoing effort to cut its debt and exit non-performing businesses, he said.

“There are proposed disposal of properties which are still in the midst of negotiations (and) are expected to be divested in the coming months," he noted.

In 2021, Berjaya Corp. announced a three-year strategic plan that centered around restructuring and disposal of non-core assets, key to put the company on track to achieve sustained profitability.

One of the key measures involves enforcing recurring dividend payout to Berjaya Corp from its various units operating in diverse businesses ranging from lottery-to- hotels and from restaurants-to-luxury cars.

"I'm confident by (financial) year end June 2023, we will pay a dividend," Tan said.

Hospitality segment, the only business segment in the red partly due to Covid-19 pandemic effect, is expected to return to profit in the current fiscal year following an influx of foreign tourists, Tan added.

"Hospitality segment remains optimistic as its traffic volume picks up with the growing confidence of international travelers and the increasing influx of tourist arrivals," he said.

In other developments, Tan said Berjaya Corp will invest about 500 million ringgit ($113.44 million) over 30 years to modernize Sabah state waste management facilities.

The company is currently conducting a feasibility study for the development and operation of five integrated waste management facilities under a concession period of 25 year-to-30 years, he said. Berjaya expects the study to be completed by the first quarter of 2023.

The recurring income is estimated at between 35 million ringgit and 40 million ringgit per annum during the initial operating years mainly from solid waste tipping fees and sales of renewable energy, carbon credits and recyclables, he said.

The waste management facilities modernization is to be undertaken by Berjaya Enviro Holdings, a unit of Berjaya Corp, together with Sabah state investment arm Qhazanah Sabah. The projects will include the capabilities to extract recyclables from solid waste and generate green electricity using landfill gases.

On its property development business, Berjaya Corp is planning a mixed development project in Iceland under the Four Seasons brand, Tan said. "Iceland has been a good investment for us," he said, without disclosing gross development value for the project.

Berjaya Corp has also secured development order for its Berjaya Hills Resort for the construction of 3,000 houses, he added.

simon2020

442 posts

Posted by simon2020 > 2022-12-25 11:12 | Report Abuse

Guess most of the weak BJLand shareholders has been flushed out including most of the short term day traders? Also I like what VT mentioned during BJCorp's a latest AGM related to BJland's activities which are crucial for BJCorp's successful restructuring:
"BJCorp is getting approval from BNM to turn itself into a financial holding company and will restructure itself into a financial services provider" BJCorp current activities includes stockbroking, asset & land management (BJLand) , lottery operations (BJLand), insurance (BJCorp's share in Berjaya Sompo already sold?), and credit leasing. Incidentally BJLand's core business includes - operations of Toto betting, leasing of online lottery equipment, and the manufacture and distribution of computerized lottery and voting systems, motor vehicle dealership, repairs and maintenance and aftersales services. It also provides development of residential and commercial properties, management and operations of hotels and resorts operations of recreational clubs, vacation timeshare and air charter business. All this activities are crucial for BJCorp's plan to turn into a financial holding company?

At the same time, Berjaya Corp remains in talks to sell several non-core assets (will VT sell part of BJToto's biz in Philippines parked under BJLand (leasing of online lottery equipment, and the manufacture and distribution of computerized lottery and voting systems) proposed by Jalil as mentioned in his restucturing plan) as part of an ongoing effort to cut its debt and exit non-performing businesses, he said.

“There are proposed disposal of BJLand properties e.g. like Berjaya Makati Hotel in Philippines, Berjaya Hotel Colombo in Sri Lanka, Berjaya Beau Vallon Bay Resort & Casino and Berjaya Praslin Resort in Seychelles, Berjaya Hotel Colombo in Sri Lanka, Sheraton Hanoi Hotel in Vietnam (70% owned by BJLand?) which are still in the midst of negotiations (and) are expected to be divested in the coming months," he noted.

On its property development business, Berjaya Corp through BJLand is planning a mixed development project in Iceland under the Four Seasons brand, Tan said. "Iceland has been a good investment for us," he said, without disclosing gross development value for the project.

Berjaya Corp has also secured development order for its Berjaya Hills Resort for the construction of 3,000 houses by BJLand?, he added.

bulldog

12,157 posts

Posted by bulldog > 2022-12-27 09:26 | Report Abuse

Hold tight tight

Huat chaiii

wallstreetrookieNEW

1,466 posts

Posted by wallstreetrookieNEW > 2022-12-27 09:28 | Report Abuse

wallstreetrookieNEW

1,466 posts

Posted by wallstreetrookieNEW > 2022-12-27 09:28 | Report Abuse

Vincent Tan all in

stockraider

31,556 posts

Posted by stockraider > 2022-12-27 10:58 | Report Abuse

Mari mari $$$$$$$$$$$$$ coming loh!

ikanbiliskering

215 posts

Posted by ikanbiliskering > 2022-12-27 11:44 | Report Abuse

Ong Mari...

bulldog

12,157 posts

Posted by bulldog > 2022-12-27 12:34 | Report Abuse

Bjcorp time

Huat chaiii

bulldog

12,157 posts

Posted by bulldog > 2022-12-27 12:34 | Report Abuse

Time for harvest

Huat chaiii

bulldog

12,157 posts

Posted by bulldog > 2022-12-27 12:35 | Report Abuse

Bulldog busy counting the green papers

Huat chaiii

bulldog

12,157 posts

Posted by bulldog > 2022-12-27 12:36 | Report Abuse

Time to book new defender or g wagon

Huat chaiii

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