I don't see a rush buying here, buy & sale always VT's style. It's a make sense deal, taking advantage of WOW Airline bankruptcy (Icelandair take this chance to capture aviation market) and weak Iceland Krona .
Sound like a good deal bunddle with Northern Lights offer in the coolest and most expensive city?? 1 second, may be Malaysian or Asian yet to learn about these:- How about lahar strike cause by volcanic eruption or even snow and glaciers, Glacial Outburst cause flood to hotels, surrounded by active volcanic system, lava strike & building burn down, frequent Earthquakes, Strong gale (wind > 80KM per hour), Storm, risk of Sinking Iceland Volcano Crater, potential drastic climate change, the move away of North poles........take these in into risk management and cost to business, don't just look at 1 year best performance financial data for decision, at least read 7 - 10 years of financial performance.....but I do support to issue dividend....hehehe.....
ada strong point to spin off hotel segment via IPO... but this acquisition was announced in Malaysia few days late right?
Bjland has acquired a 75% stake in a hotel operator in Iceland for US$53.63mil (RM222.03mil). BLand, in a statement, said wholly owned unit Berjaya Property Ireland Ltd (BPIL) had entered into a deal on July 13 to buy the controlling stake in Icelandair Hotels ehf for US$53.63mil cash (RM222mil). Icelandair Hotels currently operates 20 hotels located all around Iceland with a total of 1,811 rooms. In addition, a new five-star, 145‑room hotel developed in collaboration with Hilton Hotels is scheduled to be launched in Reykjavik’s Parliament district in 2020. BLand said the total earnings before interest, taxation, depreciation and amortisation of these hotels was about US$12mil for the financial year ended Dec 31, 2018. Total revenue in 2018 was US$97mil. “I am very pleased with this investment, which is at a low entry cost, with an average cost/price of about US$75,096 per room,” Tan said in the statement. Icelandair will hold the 25% stake for a minimum of three years. The agreement includes a put and call option on the remaining 25% stake, which will allow BPIL to eventually own a 100% equity interest. The deal also includes a restructuring of Icelandair Hotels that involves the refinancing of debts. The completion of the transaction is set to be by the end of this year, subject to the fulfillment of conditions by both parties. “The Icelandair Hotels is one of the largest hotel chains in Iceland, and its hotels are operated at a very high standard by a passionate and dedicated team. We are delighted to add this hotel group to our growing network of hotels and resorts,” Tan said. Besides increasing Berjaya’s presence in the European region, this acquisition also increases the room inventory of the Berjaya group of hotels from about 4,200 to 6,011 rooms, with an additional 1,811 rooms. Currently, the Berjaya group of hotels is operating under the Berjaya Hotels and Resorts, Four Seasons and Sheraton brands in Europe and Asia. The group’s current portfolio of 19 city and resort hotels are located in Malaysia, Vietnam, the Philippines, Japan, Sri Lanka, the Seychelles and the United Kingdom.
only out last night after market tutup kan? today up, probably
KUALA LUMPUR (July 15): Based on corporate announcements and news flow today, companies that may be in focus on Tuesday (July 16) may include: Berjaya Land Bhd (BLand), Axis Real Estate Investment Trust (REIT), Multi Sports Holdings Ltd, Chin Hin Group Bhd, Pegasus Heights Bhd, Omesti Bhd, Tex Cycle Technology (M) Bhd and IJM Corp Bhd. Berjaya Land Bhd (BLand), which is controlled by tycoon Tan Sri Vincent Tan, is buying a 75% stake in Icelandair Hotels ehf in a US$53.63 million (RM222.03 million) deal that would allow the group to enter the luxury hotel segment in Iceland. It said the proposed acquisition is in line with the group’s geographical diversification and revenue expansion. "The luxury hotel segment in Iceland is expected to grow and the proposed acquisition will enable the group to enter this segment with strategically located hotels in the heart of Iceland, as well as certain hotels being operated under the Hilton brand name," it added.
18 Apr 2019,The 33rd Division of civil courts in the Seoul Central District Court ruled on plaintiffs' dismissal in a lawsuit filed by Berjaya Jeju Resort (BJR), a Jeju corporation in Malaysia's Berjaya Group, against Jeju Island.
The court dismissed the claim of the plaintiff Berjaya Jeju Resort and ruled that the plaintiff would bear the cost of the lawsuit.
Right! Already old news as published in April and all impairments on JeJu already provided for in the BJLand's books. Anyway decision only at Sessions Court can still appeal to Higher Courts if required.
Latest news as follows:
BLand buys stake in Iceland company "BLand said the total earnings before interest, taxation, depreciation and amortisation of these Icelandair hotels was about US$12mil/RM49.3mil for the financial year ended Dec 31, 2018.
More updates on BJLand, Icelandair Hotels acquisition "BLand said the proposed acquisition was in line with the group’s plans for geographical diversification and revenue expansion.
“The luxury hotel segment in Iceland is expected to grow and the proposed acquisition will enable the BLand Group to enter this segment with strategically located hotels in the heart of Iceland as well as certain hotels being operated under the Hilton brand name,” it said.
The proposed purchase will not have a material effect on the net assets and earnings of the BLand group for the current financial year ending June 30, 2019, but is expected to contribute positively to its future earnings."
Yes! 18 sens last call. Big buyers has entered the fray. Trend reversal beginning for BJLand (which owns more 40% of BJToto) just like BJToto which is expecting improved profits for coming results in August with increased operations on illegal 4d operators by Govt.
"Stricter enforcement by the authorities to clamp down on illegal NFOs"
ingat lagi? :) KUALA LUMPUR (Jan 31): Berjaya Corp Bhd (BCorp) and its wholly-owned subsidiary Juara Sejati Sdn Bhd have entered into an agreement with Penta Master Fund Ltd, PCM Industrial LP and Penta Asia Long/Short Fund Ltd to acquire 4.61% of Berjaya Land Bhd (BLand) for RM87.4 million.
38/30 x 26sen per bjcorp ~ 33sen per bjland , In a bourse filing yesterday, the group said the 230 million Berjaya Land shares will be acquired for a total purchase consideration of RM87.4 million or 38 sen per share, to be fully satisfied via the issuance of 291.3 million BCorp shares at an issue price of 30 sen apiece.
Anyting VT does "Ada Udang disebalik Batu" as Govt. now look seriously at changing the gaming laws for more Legal Gambling in their moves to tackle illegal 4D operators?
Actually VT's 3.1 million purchase of Caring shares is in his personal capacity not for BJGroup. But since PNB is wholly owned by MOF set up to help Bumiputras, it will generate goodwill tremendous goodwill with Govt. (MOF & Minister of Economic Affairs/ex Selangor MB) for VT to further his case for reissue of ESports Betting Licence & favourable compensation for loss of earnings from Selangor Turf Club land to BJGroup?
from RM4+ to 18sen, remove the entrire board's members haha
Summary from 08/05/2009 to 25/06/2019 Highest Price 4.3800 First Occurred on 20/07/2010 Lowest Price 0.1950 First Occurred on 18/12/2018 Highest Volume 230.000m First Occurred on 28/02/2019
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....
stahl2017
310 posts
Posted by stahl2017 > 2019-07-15 23:10 | Report Abuse
I don't see a rush buying here, buy & sale always VT's style. It's a make sense deal, taking advantage of WOW Airline bankruptcy (Icelandair take this chance to capture aviation market) and weak Iceland Krona .