1. Can anyone find out the latest update on the award of Jeju Land Project Compensation to BJLand/ BJCorp for losses and damages incurred by the Korean Court? It's already coming to Year 3 since the first legal proceeding commence on 6 November 2015.
Once the Korean Court awards the Jeju Land Project Compensation in 2018, there could be a huge exceptional gain/ reversal of impairment provisions on the Jeju Land Project to BJLand/ BJCorp's latest financial account in 2018?
2. At the sixth court hearing on 14 October 2016, the presiding judge had agreed to BJR's application to conduct a land price appraisal of the Jeju Project. The presiding judge had also made an inspection of the Jeju Project site on 25 November 2016. As at the date of this announcement, the land price appraisal report of the Jeju Project has been completed by the court appointed land appraisal company and the land price appraisal report has been submitted directly to the court. The JDC Lawsuit is still on-going.
3. Announcement of Jeju Land Project Compensation to BJLand for losses and damages incurred, by Korean Court in 2018 (land appriasal report submitted to Korean court for consideration in December 2016?) since the land price appraisal report of the Jeju Project has been completed by the court appointed land appraisal company and the land price appraisal report has been submitted directly to the court for consideration as of end 2016 and first reported in BJLand quarterly report ended 31 Jan. 2017?
We think the profits from sales of Ritz Carlton Residences will be reflected in BJLand/ BJCorp coming qtr results?
The total gross development value (GDV) is RM1.18 billion. Already 60% sold in Dec. 2017?
"kahhoeng Read in Focus, Ritz Carlton Residences is only handed over on Dec 08 last year, no wonder sales figures and profits not shown in the quarterly results..."
Quote "Berjaya Land reintroduces newly designed Ritz-Carlton Residences Kuala Lumpur
Berjaya Land Bhd has reintroduced its Ritz-Carlton Residences Kuala Lumpur, located at the intersection of Jalan Sultan Ismail and Jalan Ampang, with new interior design concepts.
The luxury residences are designed by world-renowned, multi-award winning interior design firm Peter Silling & Associates.
“Buyers can now choose from three interior design concepts — Modern, Classic and Finesse — to match their own individual styles," said Berjaya Land CEO and director of Wangsa Tegap Sdn Bhd Datuk Francis Ng in his welcoming remarks at the media preview of the newly designed project.
The 48-storey project offering residential suites is developed by Wangsa Tegap, a wholly-owned subsidiary of Berjaya Corp Bhd. The total gross development value (GDV) is RM1.18 billion.
Sitting on a 2.7-acre freehold site and one of the two towers at Berjaya Central Park, the Ritz-Carlton Residences consists of 288 suites with unit sizes ranging from 1,023 sq ft to 4,284 sq ft. Prices start from RM2,500 psf while the maintenance fee is RM1 psf.
“The residences are slated for completion by 1Q2017 as it is now 91% to 92% completed. The current take-up rate is at 30% so we are eyeing to achieve another 30% — making it 60% by this year end.
“Also, the tenant ratio is 50% foreigners and 50% locals. This development is targeted at high-net-worth individuals where 30% of our buyers are actually multimillionaires,” he claimed."
Many thanks to you for the update and sharing of the info on BJ Land. I treat BJLand like a sunken treasure buried in the deep sea. Everyday needs to dive deeper and deeper to find it. Its Okay as good things do not come easy.....
The Berjaya Group accounted for the construction and development of the Ritz-Carlton Residence in accordance with MFRS 111 and MFRS 118 (to be replaced by MFRS 15: Revenue from Contracts with Customers), whereby Revenues from the sale of units can only be recognized once the unit is sold and handed over to the buyer. While Construction Contract Contract costs are recognised as expenses in the period in which they are incurred.
"That's why the Sales & Profits don't seen to be included ( recognised) in BJCorp/ BJLand earlier Quarterly Financial Reports (until Ritz Carlton Residences is handed over on Dec 08 2017 to the Buyers).
However all the construction contract cost for development of Ritz-Carlton Residence has been recognised as expense in the period they were incurred earlier.
Refer Pg. 54 BJCorp Annual Report 2016
The potential compensation from Jeju Land Project to be awarded by the Korean Court in 2018 could be in the region of RM541,965,000 for BJLand & BJCorp!
NOTES TO THE FINANCIAL STATEMENTS - 30 APRIL 2016 (l) Status of Berjaya Jeju Resort Limited (“BJR”) project
BJR has previously commenced development activities on Jeju Island, South Korea (“Jeju Project”) over certain parcels of land purchased from Jeju Free International City Development Center (“JDC”) in 2009. These lands were expropriated by JDC from various landowners. On 20 March 2015, the Korean Supreme Court ruled that the expropriation of the lands by JDC from these landowners was invalid. As explained in Note 42(6), BJR has suspended the development of the Jeju Project due to the breach of the terms and conditions of the land sale and purchase agreement (“Land SPA”) by JDC when it failed to deliver unencumbered titles to the said lands to BJR.
BJR has commenced legal proceedings against JDC seeking compensation for damages incurred which include the costs incurred by BJR in developing the Jeju Project. The outcome of the legal proceedings will determine whether BJR is able to recover the costs amounting to RM541,965,000 incurred to-date on the development of the Jeju Project.
Based on the legal opinion obtained from its lawyers, BJR has determined that it has the legal right to claim for damages under the Land SPA, Korean Civil Code and case precedents established in the Korean Courts. BJR’s lawyers have also opined that it is probable that BJR will prevail in its lawsuit against JDC on the claim for costs incurred.
Volume build up this 2 week. Suggest all not to used up ur capital. TRY to average again cause sell off not being done yet. Mayb be rch 30cent and worst 25cent and all bargain. Just average down and keep. GOOD luck all.
The Board of Directors of Berjaya Land Berhad (“BLand” or “Company”) wishes to announce that the Company ha incorporated a wholly owned subsidiary, namely Berjaya Myanmar Holdings Sdn Bhd (“BMyanmar”) (“Incorporation”) with the intended principal activity is investment holding in Myanmar?
See BJLand's 52 weeks Lowest & Highest 5 years share price trend from 2013 to 2017 2017 - Lowest 36 sens / Highest 66 sens [Profit for the year RM 411,221,000] 2016 - Lowest 56 sens / Highest 76 sens [Loss for the year RM (165,024,000)] 2015 - Lowest 63 sens / Highest 83 sens [Loss for the year RM (161,828,000)] 2014 - Lowest 75 sens / Highest 88 sens [Profit for the year RM 309,213,000] 2013 - Lowest 76 sens / Highest 93 sens [Profit for the year RM 296,775,000]
The time period between the completion of a listed company's financial results and the announcing of these results to the public. The close period is typically regarded as the one-month period preceding the release of a company's quarterly results.
lau lau why do you think the BJL can drop until so low as 0.315 and no buyer and VT holds 78% of the share why he want to maintain it so low im sure he can easily move up if he wants
Further to our announcement dated 19 February 2018 on the above and pursuant to Paragraphs 14.03 and 14.08 of the Main Market Listing Requirements of Bursa Malaysia Securities Berhad in relation to dealings in the securities by Directors/Principal Officer of a listed issuer during the closed period, we wish to inform that,Tan Sri Dato' Seri Vincent Tan Chee Yioun ("TSVT"), a Director of Sports Toto Malaysia Sdn Bhd, a major subsidiary of Berjaya Land Berhad ("BLand") has dealt in the shares of BLand as set out in the table below.
DEEMED INTEREST - Acquired through Berjaya Philippines Inc.
Name of Affected Person
Date of Transaction
Price per share
No. of shares acquired
% of Ordinary shares
Tan Sri Dato' Seri Vincent Tan Chee Yioun
21.02.2018
RM0.3198
200,000
0.004
The above shares were acquired through Berjaya Philippines Inc., a company where TSVT is deemed to have an interest.
You can't go wrong to buy a little of both...as BJCorp already owns 78.835% of BJLand...so if BJLand moves up ...BJCorp will follow suit and vice versa as most of us own both shares ... so let's watch Uncle Tan's moves closely...
We are just BJLand/ BJCorp investors sharing the results of our research with all interested parties...for all we know the ones who posing the question maybe helping somebody to press down the price for reasons as lysed in the links below?
laulau.....thanks for updates its really appreciate your effort and time in sharing your reseach work and analysis on BJLand and BJCorp. Certainly today transactions are absolutely weird and unusual. Let us hope something good will come out soon from misai manTSVT.
Everything has a reason...only time will tell...who is right?
Anyway BJCorp has started moving up...and since Uncle Tan has made purchases on the 19/2, 22/2 and 23/2...it's only a matter of time BJLand will follow BJCorp.... after all the earlier stale bulls from November and earlier has been cleared?
2018 - Lowest 31.5 sens / Highest 67 sens or much More???
See BJLand's 52 weeks Lowest & Highest 5 years share price trend from 2013 to 2017 " 2017 - Lowest 36 sens / Highest 66 sens [Profit for the year RM 411,221,000] 2016 - Lowest 56 sens / Highest 76 sens [Loss for the year RM (165,024,000)] 2015 - Lowest 63 sens / Highest 83 sens [Loss for the year RM (161,828,000)] 2014 - Lowest 75 sens / Highest 88 sens [Profit for the year RM 309,213,000] 2013 - Lowest 76 sens / Highest 93 sens [Profit for the year RM 296,775,000]
Yup! investing in Berjaya counters are like a game of Tai Sai with a difference...either you get your money back or 109% up to 1,240% returns... it's just a matter of when in 2018?
Yup..Uncle Tan is buying again....Monday will be a good day for Bursa as :
"The Dow Jones Industrial Average DJIA, +1.39% rose 347.51 points, or 1.4%, to 25,309.99, benefiting from sharp gains in components Goldman Sachs Group Inc., underlining rising demand for bank stocks which are likely to profit as benchmark yields march higher. The index has been up for two straight weeks, representing its largest two week climb, up 4.6%, since Nov. 18, 2016, according to WSJ Market Data Group.
The S&P 500 index SPX, +1.60% added 43.34 points, or 1.6%, to 2,747, buttressed by broad sector gains and highlighted by advances of more than 2% in the energy and technology sectors. The two straight weeks of gains for the equity index, up 2.9% over that period, are its most since Feb. 13, 2015.
The tech-laden Nasdaq Composite Index COMP, +1.77% meanwhile, surged 127.30 points, or 1.8%, to end at 7,337.39, snapping a four-session skid, and putting the index just 2.2% shy of its Jan. 26 peak at 7,505.77. It produced its best two-week stretch, up 6.7%, since Oct. 31, 2014. "
laulau...good morning to you. Great work and very motivation info on BJLand. All of us just waiting for this misai man TSVT to let go his hand and let BJLand shoot up like an ICBM....cheer
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Posted by newbie5354 > 2018-01-13 19:18 | Report Abuse
I heard more than 10 years ago BJ Land, BJ Corp was 10 sen before. Possible that low again?