Be Greedy, when others are fearful. "Key words value for money for Government" project to be completed by August 2025, project owner Immigration Department.

PUTRAJAYA (March 29): The Home Ministry (KDN) is in the process of preparing a Cabinet paper regarding the progress of the National Integrated Immigration System (NIISe) to be presented to the Cabinet next month (April).

Home Minister Datuk Seri Saifuddin Nasution Ismail said the project has been running for two years from the date the contract was first awarded, which was in March 2021 and should be completed in August 2025.

After being briefed, he said there are some shortcomings in terms of progress and aspects that slowed down the process, including in terms of human resources and capacity constraints.

"I must report the progress since the project was awarded two years ago (March 2021), I cannot hide a single thing," he said during a dialogue session with the media here on Wednesday.

"Saifuddin said KDN Secretary-General Datuk Ruji Ubi has been instructed to preside over several meetings to monitor NIISe's progress thoroughly and help prepare the Cabinet papers so that the cabinet ministers would get an accurate picture.

Saifuddin said the Cabinet will make a decision about NIISe after the presentation of the paper.

"When a decision is made, we consider it the best decision for the government, value for money," he said."

Bad news for Myeg , Good news for IRIS?
https://www.theedgemarkets.com/node/660711

How should BCorp address the BLand Dilemma similar to Boustead?
In order for new BCorp all women BOD to address the minimum shareholding spread required by Bursa by 23 March, BCorp should make an offer of at least 38 sen a share for the remaining 12.26% stake in BLand it didn’t already own.
While the privatisation has been speculated on for some time, the offer of 38 sen is 30% premium to current market price of 28 sen
— is only about 50% of BLand's net asset value per share of 77 sen. All minority shareholders including VT benefits from the deal.

https://www.theedgemarkets.com/node/657769

Well spoken! Govt. will review all projects including Myeg & Datasonic as well.

In this coming 4QFY23, IRIS could wrap FY23 with min MYR300mil. IRIS business is improving after Covid19 pandemic. Their business is not limited to Malaysia as only 30%. They can market their services overseas.. And their ID technology is new and in demand. Future prospects looks good.

Thus, this consortium has fulfilled its contractual requirements.
The only thing that can terminate this consortium from this contract is when this consortium unable to fulfill and meet Home Ministry requirements which is to deliver Niise on time in full in 2025

We rest our case.
Hahahahaha

You need to look into Niise project organization.

1 OWNER - Home MInistry
2 Contract Holder - A consortium IRIS + 3rd Party Company. Purpose; Qualify for Bumiputra status; technical / financial criteria
3 Subcontractor - Technology / technical provider; NEC

This consortium has met all requirements above.
If there is political connection, there is no evidence so far. This consortium already declared that no one in their organization has any interest or relatives in Home Ministry.

The system will consist of 13 main and six support modules that cover various areas of the Immigration Department, including passport and travel documents, immigration control, enforcement, intelligence, security management and advanced passenger screening, among others.

The NEC ABIS and NEC e-Gate systems, which are expected to be rolled out by 2024. NEC has pioneered the concept of digital identity, create a touchless and seamless airport experience using its biometrics platform at Frankfurt and Munich airports since November 2020. Additionally, travellers at Narita International Airport in Japan have been using “Face Express”, its face recognition technology, since last year.

We doubt Malaysian government will cancel Niise project and these are the reasons why;
NIISe is an initiative of the Ministry of Home Affairs to replace the Malaysian Immigration System (MyIMMs), which has been operating for more than 20 years. Iris, which has been working with the Immigration Department since 1998, introduced the first ePassport, enabling the deployment of e-Gates to read and verify ePassports using travellers’ thumbprints.

Saifuddin emphasised that the Home Ministry was committed to the success of the NIISe project and protecting the interests of the users, including the Immigration Department, to ensure that the delivery of services to the people is not affected.
https://www.theedgemarkets.com/node/658765

@BLee a very rational observation from you. Anyway market already priced in current news on Niise project as already dropped from 0.165 in February to all time low now.. Even Dr. Poh bought from market at 0.115 lately and most substantial shareholders subscribe for Iris at 0.12, so downside risk already mitigated..but if people wants to sell low on rumours..many are waiting to grab cheap bargains as Iris still profitable biz as only 30% income from Malaysia, majority of 70% derived from overseas contracts?

Don't think it has any bearing considered Iris having sold project in advance for the cash and price already discounted by market.

What people are more interested in is how they plan to use the cash on hand to generate more upstream revenue for the corporation's future sustainable outlook. This, is the reason why people invested in IRIS in the first place.

"iris contract bukan niise saja
contract luar negara ada lagi
takut apa ..aiya"

Dr. Poh bought from open market @0.12?
2023-03-08
Insider
DR POH SOON SIM (a substantial shareholder) acquired 1,750,000 shares on 07-Mar-2023.

Lai..lai..lai..Guys...Let's count down to March 23 for BLand..Chia Yu!..everyday VT blocking must be Ini Kali Lah?
"How should BCorp address the BLand Dilemma similar to Boustead?"
In order for new BCorp BOD to address the minimum shareholding spread required by Bursa by 23 March, BCorp should make an offer of at least 38 sen a share for the remaining 12.26% stake in BLand it didn’t already own.
While the privatisation has been speculated on for some time, the offer of 38 sen is 30% premium to current market price of 28 sen
— is only about 50% of BLand's net asset value per share of 77 sen.

https://www.theedgemarkets.com/node/657769

If VT offers 30% premium like LTAT's privatisation offer. Based on market price of 0.28, the offer price should be around
0.37~0.38 matching BCorp's earlier offer of 0.38 for Penta fund's BLand shares. So with minimal risk you will get at least 30% ROI as BLand is profitable with regular dividend of at least RM105 million quarterly from Associate company.
https://www.klsescreener.com/v2/news/view/1120201

Watch out for 23 March deadline by Bursa to meet liquidity spread. BCorp new chairman and all woman Board may do a LTAT style offer to take BLand private to facilitate Berjaya restructure now that VT has officially stepped down as Chairman to promote housing charity in line with BLand property development.

https://www.thestar.com.my/business/business-news/2023/03/02/ltat-to-take-boustead-private-at-855-sen-per-share

Something brewing in BJLand?

https://www.klsescreener.com/v2/news/view/1119349

In the second quarter ended Dec 31, BLand posted a net profit of RM84.4mil, or earnings per share of 1.71 sen.

Revenue for the quarter rose to RM1.69bil from RM1.43bil previously.

For the first six months, it posted a net profit of RM92.8mil on revenue of RM3.4bil.
https://www.klsescreener.com/v2/news/view/1115631

Loke said among the main changes proposed in the plan is the reintroduction of scheduled passenger flights and belly cargo flights by using narrow-body jets up to the size of A320/B737 or equivalent aircraft, at Sultan Abdul Aziz Shah Subang Airport.

“The plan aims at the premium and business passenger market segment by taking full advantage of LTSAAS' strategic location in the heart of Greater Kuala Lumpur.

“Scheduled flights using turboprop aircraft (Berjaya Air) will be maintained as market demand for these services is expected to continue and be positive,” he said at a press conference at Subang Airport here on Monday.

He added that through SARP, Subang Airport will be transformed into a regional aviation hub with a maximum capacity of eight million annual passengers, in addition to generating thousands of high-value job opportunities for Malaysians.

Loke said it will also boost the air transport industry chain and the aerospace industry, in line with the government's aspiration to make Malaysia the leader in the aerospace industry in Southeast Asia by 2030.

Berjaya Air's Turboprop planes already operating from Subang Airport.
https://www.ch-aviation.com/portal/news/121374-route-network-update-for-berjaya-air

SUBANG (Feb 6): The proposed Subang Airport Regeneration Plan (SARP) prepared by Malaysia Airport Holdings Berhad (MAHB) has been approved by the Cabinet on Feb 2 after careful consideration, said Transport Minister Anthony Loke Siew Fook.

He said it will focus on the development of the aerospace ecosystem, general aviation/business aviation and city airports (city airport/secondary airport).

Loke said among the main changes proposed in the plan is the reintroduction of scheduled passenger flights and belly cargo flights by using narrow-body jets up to the size of A320/B737 or equivalent aircraft, at Sultan Abdul Aziz Shah Subang Airport.

“The plan aims at the premium and business passenger market segment by taking full advantage of LTSAAS' strategic location in the heart of Greater Kuala Lumpur.

KUALA LUMPUR: Berjaya Land Bhd (BLand) has appointed Datuk Captain Chester Voo as group aviation chief executive officer effective from Feb 2.

In a statement today, BLand said Voo would oversee the airlines under Berjaya namely Berjaya Air, Asia Jet and Rafflesia Airways.

Berjaya Corporation Bhd founder and chairman Tan Sri Vincent Tan said Voo had a solid track record in the aviation industry.

Good news BJLand's Berjaya Air, Rafflesia Airlines going to fly from Regional Hub Subang Airport soon?
https://www.klsescreener.com/v2/news/view/1106317

BJLand will fly soon?

https://www.klsescreener.com/v2/news/view/1105165

VT buys again!

2023-01-30
Insider
TAN SRI DATO’ SERI VINCENT TAN CHEE YIOUN (a substantial shareholder) acquired 160,000 shares on 27-Jan-2023.

2023-01-30
Insider
TAN SRI DATO’ SERI VINCENT TAN CHEE YIOUN (a substantial shareholder) acquired 665,000 shares on 26-Jan-2023.

VT acquired 160,000 shares (direct interest) @0.28 today.

DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) : DEALINGS DURING CLOSED PERIOD
BERJAYA LAND BERHAD

Subject Dealings During Closed Period
Date of announcement made for "Intention to Deal During Closed Period" 19 Jan 2023

No Salutation Name Designation Description Of "Others" Designation
1 TAN SRI DATO' SERI VINCENT TAN CHEE YIOUN Others Director of STM Lottery Sdn Bhd, a major subsidiary of the Company
Type of Transaction Acquired
Description of "Others" Type of Transaction
Date of Transaction 27 Jan 2023
Description of Securities Ordinary Shares
(Direct Interest)
No of Securities Transacted 160,000
% of Securities Transacted 0.003
Consideration Malaysian Ringgit (MYR) 0.280

Time to wake up. 不发威被当病猫。

DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) : DEALINGS DURING CLOSED PERIOD
BERJAYA LAND BERHAD

Subject Dealings During Closed Period
Date of announcement made for "Intention to Deal During Closed Period" 19 Jan 2023

No Salutation Name Designation Description Of "Others" Designation
1 TAN SRI DATO' SERI VINCENT TAN CHEE YIOUN Others Director of STM Lottery Sdn Bhd, a major subsidiary of the Company
Type of Transaction Acquired
Description of "Others" Type of Transaction
Date of Transaction 26 Jan 2023
Description of Securities Ordinary Shares
(Direct Interest)
No of Securities Transacted 665,000
% of Securities Transacted 0.014
Consideration Malaysian Ringgit (MYR) 0.279

KUALA LUMPUR (Jan 26): Berjaya Corp Bhd (BCorp) founder and major shareholder Tan Sri Vincent Tan Chee Yioun has now trimmed his stake in the diversified group to 19.061%.

Tan sold two blocks of shares in a direct business transaction on Wednesday (Jan 25). According to BCorp’s filings, he sold 110.08 million shares via Hotel Enterprise Sdn Bhd and another 15.92 million shares through B & B Enterprise Sdn Bhd.

Following the transactions, Tan's direct stake in BCorp now stands at 7.814%, while his indirect stake is 11.247%.

BCorp is currently in talks to acquire a 51% stake in life insurance company MCIS Life Sdn Bhd. To facilitate the acquisition, Tan, as chairman, intends to reduce his stake in BCorp to 19.6% from 26%.

The group is not new to the financial services business. It is currently in the insurance business through its 30% stake in Berjaya Sompo Insurance Bhd. Sompo Holdings (Asia) Pte Ltd owns the remaining 70% stake. The company also wholly owns a stock brokerage firm — Inter-Pacific Securities Sdn Bhd.

In January alone, Tan sold 417.3 million BCorp shares.

In a separate announcement from BCorp, Lim Kuang Wang acquired 80 million shares of BCorp via a direct business transaction.

This increased his stake to 6.627% from 5.194% on Dec 23. Lim is a former executive director of Kossan Rubber Industries Bhd.

At the time of writing, BCorp shares were trading up half a sen or 1.47% to 34.5 sen, translating into a market capitalisation of RM2.03 billion. Over the past year, the stock has risen 44%.

In a separate announcement to Bursa on 26 Jan, BJLand also announced that BJCorp has ceased to be BJLand's 80.1% substantial shareholder as of 25 Jan. Is this part of the restructuring exercise undertaken by BJCorp to meet requirements of FSA, as a holding company can't own both a Banking/Insurance license and at the same time owns a Gaming License (STM Lottery) held under its former subsidiary BJLand?

KUALA LUMPUR (Jan 26): Berjaya Corp Bhd (BCorp) founder and major shareholder Tan Sri Vincent Tan Chee Yioun has now trimmed his stake in the diversified group to 19.061%.

Tan sold two blocks of shares in a direct business transaction on Wednesday (Jan 25). According to BCorp’s filings, he sold 110.08 million shares via Hotel Enterprise Sdn Bhd and another 15.92 million shares through B & B Enterprise Sdn Bhd.

Following the transactions, Tan's direct stake in BCorp now stands at 7.814%, while his indirect stake is 11.247%.

BCorp is currently in talks to acquire a 51% stake in life insurance company MCIS Life Sdn Bhd. To facilitate the acquisition, Tan, as chairman, intends to reduce his stake in BCorp to 19.6% from 26%.

The group is not new to the financial services business. It is currently in the insurance business through its 30% stake in Berjaya Sompo Insurance Bhd. Sompo Holdings (Asia) Pte Ltd owns the remaining 70% stake. The company also wholly owns a stock brokerage firm — Inter-Pacific Securities Sdn Bhd.

In January alone, Tan sold 417.3 million BCorp shares.

In a separate announcement from BCorp, Lim Kuang Wang acquired 80 million shares of BCorp via a direct business transaction.

This increased his stake to 6.627% from 5.194% on Dec 23. Lim is a former executive director of Kossan Rubber Industries Bhd.

At the time of writing, BCorp shares were trading up half a sen or 1.47% to 34.5 sen, translating into a market capitalisation of RM2.03 billion. Over the past year, the stock has risen 44%.

In a separate announcement to Bursa on 26 Jan, BJLand also announced that BJCorp has ceased to be BJLand's 80.1% substantial shareholder as of 25 Jan. Is this part of the restructuring exercise undertaken by BJCorp to meet requirements of FSA, as a holding company can't own both a Banking/Insurance license and at the same time owns a Gaming License (STM Lottery) held under its former subsidiary BJLand?

VT acquired 2.825 million BJland direct interest shares in open market @O.28.

2023-01-25
Insider
TAN SRI DATO’ SERI VINCENT TAN CHEE YIOUN (a substantial shareholder) acquired 2,825,000 shares on 19-Jan-2023.

Gong Xi Fa Cai.
VT buys again at 0.28!

2023-01-19
Insider
TAN SRI DATO’ SERI VINCENT TAN CHEE YIOUN (a substantial shareholder) acquired 10,000 shares on 18-Jan-2023.

2023-01-19
Insider
TAN SRI DATO’ SERI VINCENT TAN CHEE YIOUN (a substantial shareholder) acquired 410,300 shares on 17-Jan-2023.

BJCorp to acquire Bank of China's Financial Services License!

陈志远再减持成功集团 铺路收购金融机构
Sinchew Sat, Jan 14, 2023 10:42am

（吉隆坡13日讯）成功集团（BJCORP,3395,主板工业产品服务组）主席丹斯里陈志远再减持集团股份，准备为收购金融机构铺路。

根据成功集团周五发出的文告，陈志远在1月11日分3批出售共8000万股直接股份，在1月10日和12日分两批出售共100万股由其子女持有的非直接股份。

减持后，陈志远仍持有成功集团4亿8827万1345股或8.745%直接股权及7亿3098万9755股或13.092%非直接股权。

成功集团早前透露，管理层打算进行涉及国行金融服务执照的收购，根据国行金融服务法令，个人不可在持牌机构持超过10%股权，因此大股东陈志远必须将他在成功机构的总共持股权降低至19.6%以下。根据《彭博社》数据，陈志远原本直接持有成功机构的20.12%股权。

成功集团过后证实，有意向南非桑勒姆集团收购MCIS寿险（MCIS Life）的51%控制股权。

去年12月27日，控制高产柅品（KOSSAN,7153,主板医疗保健组）的林氏家族公司向陈志远收购成功集团4亿股，相当于5.015%股权，崛起为大股东之一。

而在上周，陈志远以1000万令吉或每股25仙的价格，脱售公司的4000万股或0.7%股权予女婿法立纳斯慕丁。

Latest Update
(Kuala Lumpur, 13th) Berjaya Group (BJCORP, 3395, Main Board Industrial Products Services Group) Chairman Tan Sri Tan Zhiyuan has further reduced his holdings in the group, preparing to pave the way for the acquisition of financial institutions .

According to the statement issued by BJCorp on Friday, Chen Zhiyuan sold a total of 80 million direct shares in three batches on January 11, and sold a total of 1 million indirect shares held by his children in two batches on January 10 and 12. shares.

After the shareholding reduction, Chen Zhiyuan still holds 488,271,345 shares or 8.745% direct equity and 730,989,755 shares or 13.092% indirect equity of BJCorp.

BJCorp revealed earlier that the management intends to carry out the acquisition involving the Bank of China's financial services license. According to the Bank of China's financial services law, individuals cannot hold more than 10% of the shares in licensed institutions. The stake was reduced to below 19.6%. According to "Bloomberg" data, Chen Zhiyuan originally directly held 20.12% of the shares of the successful organization.

Berjaya later confirmed that it intends to acquire a 51% controlling stake in MCIS Life Insurance (MCIS Life) from South Africa's Sanlam Group.

On December 27 last year, the Lin family company that controlled KOSSAN (KOSSAN, 7153, the main board healthcare group) acquired 400 million shares of Success Group from Chen Zhiyuan, equivalent to 5.015% equity, and became one of the major shareholders.

And last week, Chen Zhiyuan sold 40 million shares or 0.7% of the company's shares to his son-in-law Farid Nasmuddin at a price of RM10 million or 25 cents per share.

https://www.klsescreener.com/v2/news/view/1097305

Just wonders what BJLand &:VT has to say to Bursa in the coming announcement after BJCorp & VT's buying spree as BJLand public spread has fallen as low as 6.5%! Instead of a Rectification Plan to address the issue of public spread, they are making it worse...

Further to our announcement dated 25 August 2022, the Board of Directors of Berjaya Land Berhad (“BLand”) wishes to announce that Bursa Malaysia Securities Berhad has, via its letter dated 20 September 2022, granted BLand a further extension of time of 6 months until 22 March 2023 to comply with the approved public shareholding spread of 20% (“Approved Public Spread”).



Currently, the public shareholding spread of BLand stands at 16.50%, a shortfall of 3.50%. The Management of BLand will continue to explore and identify a feasible rectification plan to address the shortfall in the Approved Public Spread.



This Announcement is dated 21 September 2022.

@Sslee think it shouldn't be long now as timing is just right since VT is increasing his shares in BJLand almost everyday after collecting more than 130 million cash from sale in BJCorp? as latest update at Simply_Wall _St indicates that general public spread only left 6.9% with institutions holding another 4.5%. The top 15 shareholders already controls 93.11%! BJCorp alone controls 80.2% not counting VT & VT controlled entities?? Also VT divestment in BJCorp to 19.6% and increase stakes in BJLand & BJAsset (BJAsset public spread now also falls below 20%) recently could be catalysts for mergers & restructure of VT's empire?

Sslee

Stockraider,
I bought back some bjland. Waiting for Bjcorp to offer VGO

VT confirms BJCorp in negotiations to acquire a Financial Services Provider under FSA...could it be a licensed Bank or Insurer? Anyway BJCorp already has 30% share in Berjaya Sompo...so why buy another Insurer when a Banking License offers better Synergy to Berjaya Goup? Expect the Unexpected!

https://www.klsescreener.com/v2/news/view/1094639

Update on Making sense of Vincent Tan’s moves in BJCorp/BJLand/7Eleven.

The possibility of Berjaya Corporation Bhd acquiring a financial services company had sent the stock in a frenzy and was one of the top active counters on Bursa Malaysia on Dec 28 adding as much as 1.5 sen to an intraday high of 31 sen. Profit taking has been well absorbed and probably anticipated as some investors were skeptical on the potential deal.

According to news report, Berjaya Corp founder and major shareholder Vincent Tan Chee Yioun intends to pare his stake in the company to 19.6% from 26% in order to comply with Section 92 of the FSA.

Apparently, Tan has been making several share disposals to reduce his stake in Berjaya Corp. He sold 400 million shares via direct business transaction on Dec 22. He owns a 12.95% direct interest and a 13.29% indirect interest after the share sales.

Interestingly, Kossan Rubber Industries Bhd's founder and managing director Tan Sri Lim Kuang Sia emerged as a substantial shareholder of Berjaya Corp after acquiring 400 million shares or a 7.16% stake in the company. Is Lim holding the shares on Tan’s behalf or is Lim looking to diversify its investments to be part of this conglomerate looking to restructure itself into a financial services provider?

On Jan 6, Vincent Tan Chee Yioun divested another 40 million shares or 0.7% stake in the group to his son-in-law SM Faliq SM Nasimuddin for RM10 million or 25 sen per share. SM Faliq, who is deputy group executive chairman of Naza Group, is married to Vincent Tan’s daughter Chryseis Tan Sheik Ling.

Bursa filings show that Chryseis Tan, who is also BCorp’s and BJLand's non-executive director, acquired the shares in two tranches (34.52 million shares and 5.48 million shares) through her spouse. Subsequent to the divestment, Vincent Tan is left with 12.25% direct interest and 13.29% indirect stake in BCorp. In order to meet S92 FSA requirements, Tan needs to sell another 2.25% direct interest or 129 million shares in BJcorp. The FSA does not allow any individual to own more than 10% stake in a financial institution.

The divestment seems to be part of a bid for the billionaire to pare down his shareholding in BCorp, and pave the way for the group’s potential acquisition of a financial institution. Shares of BCorp closed half a sen or 1.7% higher at 30.5 sen while BJLand closed at 26.5 sen on Friday (Jan 6).

Berjaya Corp current activities includes stockbroking, asset & land management and lottery operations under Berjaya Land. Berjaya Corp is also involved in provision of insurance via its 30% stake in Berjaya Sompo Insurance Bhd. Sompo Holdings (Asia) Pte Ltd owns the remaining 70% stake. In addition, it wholly owns a stockbroking arm — Inter-Pacific Securities Sdn Bhd.

For sure, Tan’s cashing out his 440 million shares in Berjaya Corp would help make up the loss of steady income from its 10-year warrants, which have expired. With the cash from the share sale, Tan can buy more shares in Berjaya Land. Infact, disclosures to Bursa indicated Tan has been acquiring BJLand shares almost on a daily basis through Berjaya Retail Berhad which is controlled by Tan and operates the 7-Eleven chain of convenience stores in Malaysia and markets consumer durable products under the Singer Group. It is also of interest Tan has been agressively acquiring 7Eleven shares recently together with BJLand, which now is a substantial shareholder with more than 5% shares in 7Eleven.

Why Berjaya Land?

If Berjaya Corp becomes a financial services provider, it can’t hold a banking license and at the same time, a gaming licence under its major subsidiary, Berjaya Land. As such, Berjaya Corp may have to hive off Berjaya Land's 40% interest in Berjaya Toto to another entity probably under Tan’s control. Investors are probably better off putting their money in Berjaya Land for better upside compared with Berjaya Corp. Currently BJLand is trading at 26.5 sen a discount of 13% to BJcorp closing price of 30.5 sen on Jan 6.

There are plenty more speculations on Tan’s next moves and investors would likely place their bets on the tycoon once the deal has been firmed up and viewed as a beneficial move. Latest moves by Tan includes appointing Farhash Wafa Salvador, Anwar's former Political Secretary and Loyalist as Chairman of 7Eleven, replacing Vincent Tan's son, Robin Tan Yeong Ching who is the current Chairman of STM Lottery (Formerly BToto).

Update on Making sense of Vincent Tan’s moves in BJCorp/BJLand/7Eleven.

The possibility of Berjaya Corporation Bhd acquiring a financial services company had sent the stock in a frenzy and was one of the top active counters on Bursa Malaysia on Dec 28 adding as much as 1.5 sen to an intraday high of 31 sen. Profit taking has been well absorbed and probably anticipated as some investors were skeptical on the potential deal.

According to news report, Berjaya Corp founder and major shareholder Vincent Tan Chee Yioun intends to pare his stake in the company to 19.6% from 26% in order to comply with Section 92 of the FSA.

Apparently, Tan has been making several share disposals to reduce his stake in Berjaya Corp. He sold 400 million shares via direct business transaction on Dec 22. He owns a 12.95% direct interest and a 13.29% indirect interest after the share sales.

Interestingly, Kossan Rubber Industries Bhd's founder and managing director Tan Sri Lim Kuang Sia emerged as a substantial shareholder of Berjaya Corp after acquiring 400 million shares or a 7.16% stake in the company. Is Lim holding the shares on Tan’s behalf or is Lim looking to diversify its investments to be part of this conglomerate looking to restructure itself into a financial services provider?

On Jan 6, Vincent Tan Chee Yioun divested another 40 million shares or 0.7% stake in the group to his son-in-law SM Faliq SM Nasimuddin for RM10 million or 25 sen per share.
SM Faliq, who is deputy group executive chairman of Naza Group, is married to Vincent Tan’s daughter Chryseis Tan Sheik Ling.

Bursa filings show that Chryseis Tan, who is also BCorp’s and BJLand's non-executive director, acquired the shares in two tranches (34.52 million shares and 5.48 million shares) through her spouse. Subsequent to the divestment, Vincent Tan is left with 12.25% direct interest and 13.29% indirect stake in BCorp. In order to meet S92 FSA requirements, Tan needs to sell another 2.25% direct interest or 129 million shares in BJcorp. The FSA does not allow any individual to own more than 10% stake in a financial institution.

The divestment seems to be part of a bid for the billionaire to pare down his shareholding in BCorp, and pave the way for the group’s potential acquisition of a financial institution.
Shares of BCorp closed half a sen or 1.7% higher at 30.5 sen while BJLand closed at 26.5 sen on Friday (Jan 6).

Berjaya Corp current activities includes stockbroking, asset & land management and lottery operations under Berjaya Land. Berjaya Corp is also involved in provision of insurance via its 30% stake in Berjaya Sompo Insurance Bhd. Sompo Holdings (Asia) Pte Ltd owns the remaining 70% stake. In addition, it wholly owns a stockbroking arm — Inter-Pacific Securities Sdn Bhd.

For sure, Tan’s cashing out his 440 million shares in Berjaya Corp would help make up the loss of steady income from its 10-year warrants, which have expired. With the cash from the share sale, Tan can buy more shares in Berjaya Land. Infact, disclosures to Bursa indicated Tan has been acquiring BJLand shares almost on a daily basis through Berjaya Retail Berhad which is controlled by Tan and operates the 7-Eleven chain of convenience stores in Malaysia and markets consumer durable products under the Singer Group. It is also of interest Tan has been agressively acquiring 7Eleven shares recently together with BJLand, which now is a substantial shareholder with more than 5% shares in 7Eleven.

Why Berjaya Land?

If Berjaya Corp becomes a financial services provider, it can’t hold a banking license and at the same time, a gaming licence under its major subsidiary, Berjaya Land. As such, Berjaya Corp may have to hive off Berjaya Land's 40% interest in Berjaya Toto to another entity probably under Tan’s control. Investors are probably better off putting their money in Berjaya Land for better upside compared with Berjaya Corp. Currently BJLand is trading at 26.5 sen a discount of 13% to BJcorp closing price of 30.5 sen on Jan 6.

There are plenty more speculations on Tan’s next moves and investors would likely place their bets on the tycoon once the deal has been firmed up and viewed as a beneficial move. Latest moves by Tan includes appointing Farhash Wafa Salvador, Anwar's former Political Secretary and Loyalist as Chairman of 7Eleven, replacing Vincent Tan's son, Robin Tan Yeong Ching who is the current Chairman of STM Lottery (Formerly BToto).

Update on Making sense of Vincent Tan’s moves in BJCorp/BJLand/7Eleven.

The possibility of Berjaya Corporation Bhd acquiring a financial services company had sent the stock in a frenzy and was one of the top active counters on Bursa Malaysia on Dec 28 adding as much as 1.5 sen to an intraday high of 31 sen. Profit taking has been well absorbed and probably anticipated as some investors were skeptical on the potential deal.

According to news report, Berjaya Corp founder and major shareholder Vincent Tan Chee Yioun intends to pare his stake in the company to 19.6% from 26% in order to comply with Section 92 of the FSA.

Apparently, Tan has been making several share disposals to reduce his stake in Berjaya Corp. He sold 400 million shares via direct business transaction on Dec 22. He owns a 12.95% direct interest and a 13.29% indirect interest after the share sales.

Interestingly, Kossan Rubber Industries Bhd's founder and managing director Tan Sri Lim Kuang Sia emerged as a substantial shareholder of Berjaya Corp after acquiring 400 million shares or a 7.16% stake in the company. Is Lim holding the shares on Tan’s behalf or is Lim looking to diversify its investments to be part of this conglomerate looking to restructure itself into a financial services provider?

On Jan 6, Vincent Tan Chee Yioun divested another 40 million shares or 0.7% stake in the group to his son-in-law SM Faliq SM Nasimuddin for RM10 million or 25 sen per share.
SM Faliq, who is deputy group executive chairman of Naza Group, is married to Vincent Tan’s daughter Chryseis Tan Sheik Ling.

Bursa filings show that Chryseis Tan, who is also BCorp’s and BJLand's non-executive director, acquired the shares in two tranches (34.52 million shares and 5.48 million shares) through her spouse. Subsequent to the divestment, Vincent Tan is left with 12.25% direct interest and 13.29% indirect stake in BCorp. In order to meet S92 FSA requirements, Tan needs to sell another 2.25% direct interest or 129 million shares in BJcorp. The FSA does not allow any individual to own more than 10% stake in a financial institution.

The divestment seems to be part of a bid for the billionaire to pare down his shareholding in BCorp, and pave the way for the group’s potential acquisition of a financial institution.
Shares of BCorp closed half a sen or 1.7% higher at 30.5 sen while BJLand closed at 26.5 sen on Friday (Jan 6).

Berjaya Corp current activities includes stockbroking, asset & land management and lottery operations under Berjaya Land. Berjaya Corp is also involved in provision of insurance via its 30% stake in Berjaya Sompo Insurance Bhd. Sompo Holdings (Asia) Pte Ltd owns the remaining 70% stake. In addition, it wholly owns a stockbroking arm — Inter-Pacific Securities Sdn Bhd.

For sure, Tan’s cashing out his 440 million shares in Berjaya Corp would help make up the loss of steady income from its 10-year warrants, which have expired. With the cash from the share sale, Tan can buy more shares in Berjaya Land. Infact, disclosures to Bursa indicated Tan has been acquiring BJLand shares almost on a daily basis through Berjaya Retail Berhad which is controlled by Tan and operates the 7-Eleven chain of convenience stores in Malaysia and markets consumer durable products under the Singer Group. It is also of interest Tan has been agressively acquiring 7Eleven shares recently together with BJLand, which now is a substantial shareholder with more than 5% shares in 7Eleven.

Why Berjaya Land?

If Berjaya Corp becomes a financial services provider, it can’t hold a banking license and at the same time, a gaming licence under its major subsidiary, Berjaya Land. As such, Berjaya Corp may have to hive off Berjaya Land's 40% interest in Berjaya Toto to another entity probably under Tan’s control. Investors are probably better off putting their money in Berjaya Land for better upside compared with Berjaya Corp. Currently BJLand is trading at 26.5 sen a discount of 13% to BJcorp closing price of 30.5 sen on Jan 6.

There are plenty more speculations on Tan’s next moves and investors would likely place their bets on the tycoon once the deal has been firmed up and viewed as a beneficial move. Latest moves by Tan includes appointing Farhash Wafa Salvador, Anwar's former Political Secretary and Loyalist as Chairman of 7Eleven, replacing Vincent Tan's son, Robin Tan Yeong Ching who is the current Chairman of STM Lottery (Formerly BToto).

BJLand holds 55% shares in Landasan Lumayan with balance owned by Selangor Govt Inc?

https://www.selangormaritimegateway.com/berjaya-land-forms-joint-venture-with-mbi-for-river-initiatives-in-klang-valley-selangorjournal/

Landasan Lumayan S/B is a JV between BJLand & Selangor Government?
https://www.nst.com.my/property/2022/05/797407/lion-posim-plans-rm867mil-riverfront-development-shah-alam

BJLand already back in the black and cash rich with total sales of BJFood shares exceeding RM35m!
https://klse.i3investor.com/web/blog/detail/ceomorningbrief/2022-11-25-story-h-304780679-Berjaya_Land_Returns_to_Profit_in_1QFY2023_as_Revenue_Grows

Just follow VT.

DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) : Dealings Outside Closed Period | https://www.klsescreener.com/v2/announcements/view/3698299

https://www.klsescreener.com/v2/news/view/1079039

Go go BJAsset! BJLand!
https://www.theedgemarkets.com/article/berjaya-corp-posts-lower-1q-loss-most-biz-segments-improve

Good news! Anwar confirmed PM10 today.
https://m.malaysiakini.com/news/645559

BJLand coming soon??? BJAsset already 29.5 sen and BJFood may not be a sexy counter but it has been faring well in terms of share price.
Over the one-year period, the counter rose an impressive 140.2% to close at 98 sen on Nov 10, from a low of 35 sen
It will probably be able to surpass its year high of RM1.01 soon given the positive reception on the counter.

Ownership & Management
The owner of Iceland Hotel Collection by Berjaya is Berjaya Land Berhad. The sales agreement with Icelandair was finalized at the beginning of 2021, but the first part of the contract went through already in 2019.

The company rebranded and introduced name changes to the parent company and the Berjaya Iceland Hotels chain in September of 2022.
https://www.icelandhotelcollectionbyberjaya.com/en/about-us/company-profile-1

https://www.klsescreener.com/v2/news/view/1050907