Dear friends

Stephen  Covey in his book "THE SEVEN HABITS OF HIGHLY EFFECTIVE PEOPLE" 

said

"SEEK FIRST TO UNDERSTAND; THEN TO BE UNDERSTOOD"

In other words, "SEEK TO UNDERSTAND WHAT WE READ OR HEAR FIRST" BEFORE SEEKING TO EXPRESS AN OPINION

Now people have been questioning

"Why the full balance sum of Rm273 Millions from Bulugan land sold (2nd portion) still not received yet

The answer could be found clearly in TSH's report filed in Bursa Website (if only any sincere person wants to find the truth)

Ok now let us go look up all latest info from Bursa Website

7. Corporate proposals (See Quarterly result of Sept 30 2023

a) On 4 April 2022, BCAP, PT Kawasan Industri Kalimantan Indonesia (“KIKI”) and PT

Kalimantan Industrial Park Indonesia (“KIPI”) had entered into a conditional sale, purchase

and compensation of land agreement (“CSPA”) for the proposed disposal by BCAP of

13,214.90 hectares of certificated land together with the 683.36 hectares of uncertified land

adjoining thereto for a total cash consideration of IDR 2,428.86 billion (or equivalent to

approximately RM731.09 million).

On 8 August 2022, the disposal of 7,817.36 hectares of certificated land was completed.

On 18 January 2023, the disposal of 574.56 hectares of uncertified land was completed.

On 4 July 2023, KIKI and KIPI had respectively exercised their options to grant BCAP an

Extended Long Stop Date period of the CSPA of 12 months from 4 July 2023 to 4 July

2024

From the above see

Total land sold is 13,214.90 hectares

By 8 August 2022   7,817.36 hectares  were sold

On 18 Jan 2023 only 574.56 hectares were sold

So if these are the Lands sold in total hectares so far

7,817.36 hectares & 574.56 hectares

 = 8,391.92 hectares

​

Now deduct 13,213.90 Hectares by 8,391.92 hectares

=  4,821.98 hectares (yet in the process of land transfer approval and final payment

so see further

On 4 July 2023, KIKI and KIPI had respectively exercised their options to grant BCAP an

Extended Long Stop Date period of the CSPA of 12 months from 4 July 2023 to 4 July

2024

So the FINAL PAYMENT OF RM273 MILLIONS WILL BE EXTENDED TO JULY 4 2024

Now this sum when it comes in will be about 20 sen cash per share

Kindest regards

Calvin Tan

Please buy or sell after doing your own due diligence or consult Your Remisier/Fund Manager