Yup!...update on legal proceeding announced today on Settlement Ageement on Jeju Compensation with JDC on 23 June 2020 announce today. JDC to pay BJLand RM444 million as compensation incurred as JV partner of JDC and RM363.19 nett of relevant taxes & expenses as compensation for JVA Damages & Land SPA. Total compensation from Jeju Project RM807 million!
By now VT could have collected ard 86 % BJ.LD. I am very cock sure he will go for GO .if not why he keep buying ? VT eyes big money in BJ Land lol !!!!
MALAYSIA Malaysian group wins claim against Chinese company
Beijing SkyOcean was ordered by a HKIAC tribunal to pay almost (RM594 million) US$ 140 million to a subsidiary of Malaysian group Berjaya Land (BL Subsidiary). The guarantors of Beijing SkyOcean –Zhou Zheng and another company he owns, SkyOcean Group Holdings– were hold jointly and severally liable with Beijing SkyOcean for the amounts due.
The dispute relates to the purchase of the Berjaya (China) Great Mall Recreation Centre by Beijing SkyOcean from the BL Subsidiary in 2016 for approximately US$ 290 million. Half of thb) e purchase price was paid in advance, while the rest was to be paid in 2017. Then upon the failure of Beijing SkyOcean to pay the second instalment, the BL Subsidiary initiated its claim against the Beijing SkyOcean in 2018."
If there is one reason bcorp is paying a high price to privatise bland, it would be because VT is holding a large number of bland shares at his own capacity
My guess is both bjcorp and VT are pawning bjland shares to banker for launching mega projects.and neglected minority shareholders interest by no paying dividends and continuing let's the shares price unsustainable.
Eric Lim, BCorp offered to buy from Penta and VT earlier at 0.60 (or slightly higher?) before that's not extended to other minorities, go check Bursa...
On behalf of the Board of Directors of BCorp, Maybank Investment Bank Berhad wishes to announce that BCorp and Juara Sejati Sdn Bhd, a wholly-owned subsidiary of BCorp, have today entered into separate conditional share sale agreements with Tan Sri Dato’ Seri Vincent Tan Chee Yioun and Penta Investment Advisers Limited for the Proposed Acquisition.
kahhoeng last hope from you Eric Lim since you are big supporter or related to VT , now broken ready. Trading continuing oversold waiting stimulant packages for long time that's seem nothing gonna to happen besides privatisation or delisted. Well done! Eric Lim.
Reference is made to the earlier announcements of Berjaya Land Berhad (“BLand”) dated 6 November 2015, 23 March 2016 and 30 June 2020 in relation to the JDC Lawsuit. The Board of Directors of BLand wishes to announce that the resolution of the JDC Lawsuit involving the settlement of all claims and disputes in relation to the Project (“Settlement”) has been completed today and accordingly, BJR ceased as a subsidiary of the BLand Group. The Settlement sum after taxes and expenses is about KRW102.1 billion (equivalent to about RM361.0 million). The BLand Group is expected to record an estimated gain of RM59.1 million during this current financial year ending 30 June 2021. BLand proposes to utilise the net cash proceeds from the Settlement in the following manner: (i) KRW51.1 billion (equivalent to RM180.5 million) to repay part of the existing bank borrowings of the BLand Group; and (ii) the remaining sum to fund its overseas projects and for working capital of the BLand Group. This Announcement is dated 28 August 2020.
Reduction in RM180.5M bank borrowings means less provision for loan expenses to increase future profit. Also balance of RM180 million cash goes a long way as working capital to earn more profit?
Since BJCorp already announced dividend in specie of 40 shares for every 1k shares held, will BJLand do the same with its Treasury Shares or better, declare its 40% shareholding in BJToto as dividend for BJLand shareholders?
Why not? BJCorp already owns 76% and balance held by TSVT associates & minority.. cheaper way to immediately monetize BJLand assets as machais already accumulated so much shares mah!
Yup! Looking good..since BJCorp is giving out its 7-8% treasury shares as dividend shares to shareholders...BJCorp has room to issue additional shares like Penta deal for share swap exercise with BJLand minority by next Qtr to address liquidity issue meeting Bursa 20% PSS?
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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....
Anaconder
1,031 posts
Posted by Anaconder > 2020-07-30 11:49 | Report Abuse
Look like coming lol !!!, top up quick