Vingroup从Berjaya购买两个庞大的项目 "Vingroup acquires two mammoth projects from Berjaya 16/APR/2018 INTELLASIA| VIR Leading multi-functional conglomerate Vingroup has recently acquired two projects from Malaysian Berjaya Corporation which have been delayed for a long time. Vinhomes, Vietnam's leading real estate management company and the property management arm of Vingroup, has completed the purchase of 97.7 per cent stake in Berjaya Vietnam International University Township One Member LLC from Malaysia's Berjaya Corporation. This VND11.75 trillion ($515.6 million) deal aims to acquire the long-delayed Vietnam International University Township (VIUT) project. Berjaya Vietnam International University Township One Member LLC is the investor of the long-delayed VIUT project. The project, which received its investment certificate in July 2008, is located at Tan Thoi Nhi commune in Hoc Mon district. It has an area of 925 hectares and investment capital of $3.5 billion.
According to its design, Berjaya would have set aside 100 hectares for a university. The township was to have 20 schools offering education from kindergarten to high school. The remaining 15-ha area was going to be a multi-purpose complex with a commercial area, residential area, administrative and cultural area, and a healthcare centre that would have operated in conjunction with the university, as well as a gym and a park. At the point of receiving the investment certificate in 2008, VIUT was the largest foreign direct investment project in HCM City. The city authorities pegged a lot of hope on the project, giving credit to Berjaya's renown as a big real estate developer. After ten years, however, the project is still a field of grass and the HCM City People's Committee requested the city's Department of Planning and Investment to either resolve the difficulties that the Malaysian company is having in implementing the project or revoke the investment certificate. The investor told VIR about a month ago that it plans to kick-off the construction of the project early this year, however, to date, the construction has been immobileand has now been taken over by Vingroup.
After the VUIT acquisition, Vinhomes also finished its capital contribution of more than VND2 trillion ($89 million) to Vietnam Berjaya Financial Centre this March, acquiring 67.5 per cent from the investing company of this project. Located in District 10 of HCM City, the $930 million Vietnam Financial Centre was proposed to have five 48-storey buildings with a total of 600,000sq.m of floor space. It has also been delayed for many years. The site is now used as a parking lot for nearby restaurants."
Lol...early bird gets the 'worm', once announced no more cheap..
"The money Vinhomes used to buy Berjaya’s two long-delayed projects may be part of the $1.3-billion investment that it received from GIC Private Limited. Vinhomes Imperia project in Haiphong According to newswire Cafef, Vinhomes, Vietnam’s leading real estate management company and the property management arm of Vingroup, signed an agreement with GIC. Accordingly, GIC will pour $1.3 billion into Vinhomes by buying part of Vinhomes’ stakes and by supplying a loan to help Vinhomes develop its projects.
The agreement came into effect on April 12, 2018. The information comes after Vingroup released that through Vinhomes it has recently acquired two long-delayed projects from Malaysian Berjaya Corporation. Notably, Vinhomes has completed the purchase of a 97.7 per cent stake in Berjaya Vietnam International University Township One Member LLC and Vietnam Berjaya Financial Centre. The first deal was VND11.75 trillion ($515.6 million) in value, while the capital contribution to Berjaya Financial Centre this March exceeded VND2 trillion ($89 million), which is equivalent to 67.5 per cent."
Bloomberg had confirmed on 13/4/18 the acquisition of Berjaya Vietnam International University Township Township One Member LLC by Vinhomes Real Estate Management LLC.
Berjaya Vietnam International University Township One Member LLC invests, develops, and manages real estate property. The company is based in Ho Chi Minh, Vietnam. As per the transaction announced recently, Berjaya Vietnam International University Township One Member LLC operates as a subsidiary of Vinhomes Real Estate Management LLC. Merger/Acquisition April 13, 2018 https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=62630478
Real pissed off, I just emailed Berjaya for clarification:
Dear Lydia,
Attached you should find a copy of Vinhome's quarterly report. On page 29 of its report, Berjaya's two property projects have become Vinhome's. When I raised the issue to you in an earlier email, I was informed "there is no confirmed deal". How would a deal not confirmed resulted in Berjaya's subsidiaries become Vinhome's. Would you kindly investigate into it and make a public announcement to clarify the situation, or would you prefer I refer the document to SC for its investigation? Thanks.
Evidences 1. Bloomberg had confirmed on 13/4/18 the acquisition of Berjaya Vietnam International University Township Township One Member LLC by Vinhomes Real Estate Management LLC.
Berjaya Vietnam International University Township One Member LLC invests, develops, and manages real estate property. The company is based in Ho Chi Minh, Vietnam. As per the transaction announced recently, Berjaya Vietnam International University Township One Member LLC operates as a subsidiary of Vinhomes Real Estate Management LLC. Merger/Acquisition April 13, 2018 https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcap... Now Berjaya Vietnam International University Township One Member LLC is a subsidiary of Vinhomes Real Estate Management LLC.
As such, we would like Bursa to take very stern action against the Board of Directors that are not honest and intend to hide from us the amount of the money RM2.4 billion that supposed to be brought back to Malaysia and shared with us.
I look forward to hearing from you before a police report is made and a complaint lodged to our new Finance Minister. TQ.
Vinhomes was hurry to be listed in Vietnam stock exchange. I think after getting cash, they will pay to BERJAYA. Transfer out of Vietnam also takes time.
Yes. Most important now the world know this deal. We will chase after TSVT. His best friend TM certainly follow rule of law, we will tell his best friend if needed.
Lol...just wait for PH Government to declare a tax anmesty like Indonesia then Vt will bring back all his Billions asap...in the meantime just collect Berjaya counters and wait for the good news..
Since the acquisition by Vinhomes was only completed on April 13, 2018, BJland will make the announcement in due course. So buy while there are still doubtful Joes around..before it flys...
"Berjaya Vietnam International University Township One Member LLC invests, develops, and manages real estate property. The company is based in Ho Chi Minh, Vietnam. As per the transaction announced recently, Berjaya Vietnam International University Township One Member LLC operates as a subsidiary of Vinhomes Real Estate Management LLC." https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=62630478
Lol...dow futures currently up 66 points to 24,869.00 & bursa also up 18.89 points today..as YB Lim has clarified on the actual debts & commitments and mentioned that Malaysia's economy is fundamentally strong with ample liquidity..once Vt announce the vietnam property sales in due course..1st tp is 42 sens followed by 60 sens and so on...
"He emphasised that the fundamentals of the economy remained strong and that the financial sector was stable, the banking sector was well-capitalised and there was sufficient liquidity in the market."
After I read about the Vietnam Property Projects deal, I have decided to email BJCorp's investor relation for a reason, the share price doesn't seem to respond to such a 'good' news, as if its too good to be true.
The first response I received is "no confirmed deal" followed by "announcement will be made in due course" after proof presented by a few, including shortinvestor77. I believe as an investor, trading on this news is not wise. And if you are concerned over the truth over the matter, I would strongly suggest you email BJCorp's investor relation to seek further clarification and/or announcement in public.
I realize that one of us have already emailed BURSA in his own capacity. Though, given BJCorp investor relation's relatively prompt response, you may want to email them as well besides the ultimate option, SC and/or BURSA.
Just forwarded last email to Bursa for this minority watchgroup attention:
Dear Sir/Madam, mswatch@mswg.org.my Greetings.
After 7 days reported to Bursa bout the wrongdoing of BJCorp and BJLand for not disclosure of big deals in Vietnam, we minority shareholders till have yet to received any reply from Bursa as per the email below. Hence we seek your help in this matter. Kindly assist us. Thank you in advance. We look forward to hearing from you.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
kahhoeng
3,948 posts
Posted by kahhoeng > 2018-05-17 19:45 | Report Abuse
still on an uptrend?