Berjaya Corp is VT business empire, under the umbrella of BJ corp there are hundreds of chicken-feet companies (listed and non-listed) . All the profits made by the corp will use to buy back all those lost money chicken-feet companies, pay debts and new investment. What had left behind is nothing ! How to pay dividend ??hahahaha.....If you are not happy , just run.....LHI recently did the same, not a surprise.
True.. as money from FSKyoto Hotel divestment has been mainly utilised by BJCorp to repay debts & BJLand for investment in assets & build FSOkinawa project.
But with RM650 million collected from GMOC Arbitration & reversal of impairment provisions, BJLand will have cash to pay dividends to BJCorp & minority shareholders to makeup the shortfalls from BJToto due to MCO..
Anyway most Minority here are not for the dividend but more for the potential capital gain..as 1% dividend is only a bonus as 1,000 shares only gives RM10, 10,000 shares - RM100, 100,000 shares - RM1,000. Even 1 million shares only gives RM10k dividend per year
However for every Million shares held, a 1 sens price increase gives an immediate return of RM10k, 5 sens 50k & 10 sens 100k and so on...best of all as BJLand/BJCorp is already all time low, you can make capital gains a few rounds within a year as VT insiders are very active nowadays in the market..
This 1 sen games already been playing for long time ago as what I know. In and out with millions of shares until over bought..hahahaha...So the insiders worry about what ? Who cares?
However, BLand said the settlement will not have material effect on its earnings, net assets and gearing for the financial year ended June 30, 2020.
*** of course there won't have material impact for FY ended June 30, 2020. It's announced on June 30, 2020 and has yet to be completed! Feels like BLand is making an announcement trying to downplay the true impact of the deal???
Pursuant to the Settlement Agreement, all parties agree to resolve all disputes arising from the Jeju Project via payment by JDC of: (a) Korean Won (“KRW”) 125.00 billion (equivalent to about RM443.88 million*) to BLCL and SSP as compensation for damages incurred as joint venture partners of JDC in BJR (“JVA Damages”); and (b) a compensation sum to BJR due to damages incurred by BJR with regard to the Land SPA and the Jeju Project, where BJR shall utilise such sum to repay its relevant liabilities, payables and expenses which includes the debt owing to POSCO Engineering & Construction Co., Ltd. (“POSCO”, the main contractor for the Jeju Project) and part of the inter-company loan amount owing by BJR to BLCL (“Land SPA Damages”). The estimated total settlement sum to be received by BLCL from the JVA Damages and Land SPA Damages, net of relevant taxes and expenses, is estimated to be about KRW102.00 billion (approximately RM362.19 million*).
Total = RM443.88 million + RM362.19 million = RM806.07 million
Aidooh!!!!....sleeping beauty cash melambak sekarang, mana Putera punya kiss?? Now have to chase high......TSVT goreng kau kau, jagan tak goleng......hehehe..........
However, BLand said the settlement will not have material effect on its earnings, net assets and gearing for the financial year ended June 30, 2020.
*** of course there won't have material impact for FY ended June 30, 2020. It's announced on June 30, 2020 and has yet to be completed! Feels like BLand is making an announcement trying to downplay the true impact of the deal???
Pursuant to the Settlement Agreement, all parties agree to resolve all disputes arising from the Jeju Project via payment by JDC of:
(a) Korean Won (“KRW”) 125.00 billion (equivalent to about RM443.88 million*) to BLCL and SSP as compensation for damages incurred as joint venture partners of JDC in BJR (“JVA Damages”); and (b) a compensation sum to BJR due to damages incurred by BJR with regard to the Land SPA and the Jeju Project, where BJR shall utilise such sum to repay its relevant liabilities, payables and expenses which includes the debt owing to POSCO Engineering & Construction Co., Ltd. (“POSCO”, the main contractor for the Jeju Project) and part of the inter-company loan amount owing by BJR to BLCL (“Land SPA Damages”). The estimated total settlement sum to be received by BLCL from the JVA Damages and Land SPA Damages, net of relevant taxes and expenses, is estimated to be about KRW102.00 billion (approximately RM362.19 million*).
1. BLCL and SSP received RM443.88 million; BLand own 89.6%, shall get RM388.885 million 2. BJR received RM362.19 million; which BLand own 72.60%, shall get RM262.95 million
Can BJCORP delist BJLAND and have access to all these cash without going through the privatisation or to buy the remaining shares from the minority shareholders???
Special dividend & share swap coming soon? In order for BJCorp to access BJLand's more than 1 Billion cash hoard, Assets & to address Bursa's latest 20% public share spread requirement for BJLand by September?
There's 2 more issues yet to be addressed, (1) Vietnam project disposal, think value is around 250 million or more (2) Selangor Turf Club, don't know how much Selangor state government has to pay, and to whom, BCorp or BLand?
Cash from GMCO (306M) + Jeju (651M)=957M. BJland share price at 0.17=850M only, the rest of the assets all FOC! This is the market confidence towards VT!
Button line is to grab all available cheap shares in the Market before VT's big move..since VT & Associates already holds at least 89%, remaining minority will not simply sell cheap since most bought at average price of 35 sens or higher..Btw since Dimensional fund, Penta & Goldman Sach & Macquarie already sold all their shares & no short selling until end of the year..there won't be anymore cheap shares left in the Market..
South Korean lawsuit settlement · Chen Zhiyuan's Berjaya Land was awarded RM360 million compensation. (Kuala Lumpur, 30th) Tan Sri Chen Zhiyuan controlled the Berjaya Land (BJLAND, 4219, Main Board Consumer Products and Services Group) of the Jeju Island Resort litigation and reached a settlement and received net compensation of 102 billion won. According to the statement, the Berjaya Land Subsidiary Berjaya Leisure (Cayman Islands) (BLCL), Berjaya Jeju Resort (BJR) and Investor Swan Street Partners (SSP) today and the Jeju Free International City Development Center (JDC) litigation started in 2015 Sign a settlement agreement. Successfully launched a lawsuit with JDC through BJR, which holds a 72.6% stake. The JDC agreement compensated 125 billion won (approximately 444.88 million ringgits) to BLCL and SSP companies for the use of BJR's debt-paying land and arrears of accounts with major contractor Korea Posco Steel Corporation (POSCO). .
If the share price break 0.25 mark then I will joint the crowds. From what I had seen and heard I don have any confidence to trust VT and the gangs ! To this type of counter action is far more better than just good news and promises.
BLand's Btoto holding is already worth RM 1.2 billion, and BLand is worth less than RM 0.9 billion. Conglomerate factor? More like neglected minority shareholder interests factor...
Pursuant to the Settlement Agreement, all parties agree to resolve all disputes arising from the Jeju Project via payment by JDC of:
(a) Korean Won (“KRW”) 125.00 billion (equivalent to about RM443.88 million*) to BLCL and SSP as compensation for damages incurred as joint venture partners of JDC in BJR (“JVA Damages”); and (b) a compensation sum to BJR due to damages incurred by BJR with regard to the Land SPA and the Jeju Project, where BJR shall utilise such sum to repay its relevant liabilities, payables and expenses which includes the debt owing to POSCO Engineering & Construction Co., Ltd. (“POSCO”, the main contractor for the Jeju Project) and part of the inter-company loan amount owing by BJR to BLCL (“Land SPA Damages”).
The estimated total settlement sum to be received by BLCL from the JVA Damages and Land SPA Damages, net of relevant taxes and expenses, is estimated to be about KRW102.00 billion (approximately RM362.19 million*).
1. JVA Damages: Compensation to BLCL and SSP, RM443.88 million; 2. Land SPA Damages: Compensation to BJR (BLCL, SSP & BJR), amount not mentioned; where BJR shall utilise such sum to repay its relevant liabilities, payables and expenses which includes the debt owing to “POSCO”, the main contractor for the Jeju Project. (Refer to BLand, FY-2019 Annual Report, amount to RM111 milion).
The total nett settlement sum to be received by BLCL, is of RM362.19 million.
The total receivable shall be about RM595 million (as refer to BLand, FY-2019 Annual Report).
The nett impact on BLand profits, shall refer to "reversal of accumulated impairment losses".
It's just a waiting game between Majority with 89% & Minority with 11% as most of his previous collaborators has sold out very much earlier...for those who has waited this long for GMOC Arbitration & Jeju Korea Compensation successful outcome...the Water Dragon will make his move after he has acquired enough of BJCorp, the final beneficiary at cheap price...just beware of the many wolves in sheep's clothing breathing hot & cold?
If you look at the kyoto four seasons deal, most, at least I'm, would have expected at least 900 million will flow into bland coffer, instead the real amount is less than 600 million, or less? (clueless how the debt is structured)
Assuming that the wolf & operator having collaboration by pressing down the market price, leftover the cubs one or two 5% and kancils 6% who's bought marginally high to low prices. The wolf want to keep the platform alive so that can continuing fishing regardless the market consent frightening to pushing the market price up just by showing glamorous achievess announcement without any trophy or tokens to poor minority. Besides that don't forget the wolf also can use new phrase of weapon like MoU Singer way future dilution when time allows.
Bahai4453, there is another type of BJLand miniority shareholders who can be categorized as "the poor retirees type"
They bought BJLand 10 years ago above RM1.00... today their hard-earned retirement money has become RM0.18 only. If they invested RM200k last time, not even left with RM40k now.
On June 30, BLand announced it has reached a settlement agreement on Jeju's investment. Despite the hundreds of millions of compensation reached, BLand has announced "the Settlement will not have any effect on the issued share capital and substantial shareholders’ shareholdings of BLand. The Settlement is also not expected to have any material effect on the earnings, net assets and gearing of the BLand Group for the financial year ended 30 June 2020."
Does that mean the settlement will not have any material effect on BLand's financial position post FY2020 as well? If it will have an impact, is BLand required to provide a proper analysis on the settlement's impact? If yes, could relevant announcement be made soon? Thanks.
1. For GMOC, total proceeds shall be of RM600 million (inclusive of interests); Less it's liability of RM108 million; gross inflow to BLand (with partners) is RM492 million; Less 49% minority interest; nett inflow to BLand is RM251 million.
2. For Jeju case, total proceeds is not disclosed, let assume is at RM600 million (around there); Less it's liability of RM112 million; gross inflow to BLand (with partners) is RM488 million; Less minority interest; nett inflow to BLand is RM362 million.
3. Therefore, in BLand book receivable, it shall be RM1,200 million; Par down of liability is RM220 million; Less minority interest, of RM367 million; Nett inflow to BLand is RM613 million.
With above re-phasing, it shall be better clarity for all.
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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....
miniminer
509 posts
Posted by miniminer > 2020-06-28 22:44 | Report Abuse
Pay dividend la....hehehe......