Back to lefthand to righthand again? Buyers & Sellers strength the same? Opportunity don't come when u don't see it?

Kasi sell more please? Why eat nasi lemak when can eat KFC or MCD or even Lobster?

U are right VT got many dealers & remisiers at Inter-Pac to do his biddings in order to eat nasi lemak everyday..

Presently there is a combined headcount of approximately 400 staff, dealers and remisiers.

Inter-Pacific Securities Sdn Bhd (“IPS”) is a wholly owned subsidiary of Inter-Pacific Capital Sdn Bhd (“IPC”), an investment holding company. IPC is in turn a subsidiary of Berjaya Corporation Berhad.

https://www.interpac.com.my/about-us/

There are a few milestones to cross first...but a few in the radar happens next month to EOY:
#Outcome of Selangor Turf Club Compensation RM500m?
#Outcome of Korea Jeju Mediation/Arbitration Compensation RM15b?
#Outcome GMOC, China Arbitration RM600m?
# Sale of FS Kyoto RM1.6b?

btw Bursa just issued public "CONSULTATION PAPER NO. 3/2019 ON THE PROPOSED AMENDMENTS TO THE MAIN MARKET AND ACE MARKET LISTING REQUIREMENTS IN RELATION TO NEW ISSUE OF SECURITIES AND OTHERS"

It's your good chance to ask Bursa to adopt SGX's new listing rules for protection of minority rights to prevent VT & gang from "Bermaharajalela" at Bursa?

http://www.bursamalaysia.com/market/regulation/rules/public-consultation

Just a recap...

https://klse.i3investor.com/m/blog/laulauramblings/147946.jsp

Some updates for VT?

https://www.mmtimes.com/news/foreign-casino-operators-looking-set-myanmar.html

Aiya ..ah bah & kasi same person? don't be so desperate lah!...are u under duress by Boss to perform? thought u only come back EOY? Btw guess who's the 85% major shareholder? VT & BJCorp? means it's time to sell BJCorp & buy BJLand as still got 5 sens premium mah..

Don't worry VT will have plenty of business opportunities in Myanmar, esp in Casino & Gambling biz apart from property development in the near future :)

https://www.mmtimes.com/news/myanmar-works-improve-corruption-image.html

Good move by VT to get your foot in the door in Myanmar? Btw biz & politics don't mix, further Myanmar is part of ASEAN and maintains a embassy in KL, Malaysia.

"Although the relations become strained in late 2016 (previous BN Govt.) due to the Rohingya issues, the relations remained stable after the meeting between both countries armed forces chief to playing down the issues. Myanmar currently has an embassy in Kuala Lumpur, and Malaysia has an embassy in Yangon."

To enter a business organization at a low level, but with a chance of being more successful in the future"

Btw Myanmar Parliament, just passed The Gambling Law (“GL”) on 7 May 2019 to allow Casino & Gambling..

ttps://www.dfdl.com/resources/legal-and-tax-updates/myanmar-legal-alert-new-gambling-law-permits-casinos-to-operate-in-myanmar/

Why so many active operatives 2day right after VT posted notice his intention to trade under chapter 14?

Just wondering why there is still unlimited buying at 25.5/25 sens for BJCorp with 14.72 million buyers vs 1.94 million sellers unless something's brewing? Btw BJCorp just posted a notice of dealings in listed security under chapter 14 of VT interest to buy more BJCorp shares dated 30/8/19?

That why it's purposely pressed low to justify the quantum of Berjaya's KRW4.4 Trillion or RM15.5 Billion claim against Korean Government for Berjaya's loss as a consequence of cancellation of the Jeju Development, that's why BJLand/BJCorp has been pressed so low!

After the mediation/arbitration dispute has been settled in October on a GtoG basis?, the price of BJLand/BJCorp will not be kept so low anymore...VT may not care for minorities in general but very sure he will care for the profits when it's finally comes as he is the biggest shareholder after all as his team has cleaned the balance sheets for BJGroup of companies lately through all the non monetary impairment provisions which will be written back as gains in the near future.

Appreciate Freetospeak to elaborate further on this?

Berjaya said in a statement of arbitration that the company has incurred at least about KRW4.4 trillion (direct loss of about KRW300 billion (RM1.042 B) and loss of about KRW4.1 trillion (RM14.244 B) from loss in share values of BJLand/BJCorp shares.?

A Better Translation?

Ministry of Justice, State Coordination Bureau, Ministry of Land, Infrastructure and Home Affairs, Ministry of Land, Infrastructure and Tourism, Jeju International Investment Dispute Response Team for Yerae Recreational Residential Complex

Malaysian nationals have submitted a letter of intent to arbitrate the Investor-State Dispute Settlement (ISDS) against the Government of the Republic of Korea regarding the Jeju Yeorae Recreational Residential Complex project. We decided to correspond.

Berjaya Land Berhad submitted a Notice of Intent to the Government of the Republic of Korea on the 17th under the Agreement on the Promotion and Protection of Korea-Malaysia Investment (BIT).

The Letter of Intent is a written notice stating that the claimant intends to file a mediation, not a formal arbitration.

In an arbitration intention, Berjaya agreed on the 'BIT on the Promotion and Protection of Korea-Malaysia Investment' by the Jeju Free International City Development Center (JDC) and the court of the Republic of Korea unfairly treating Berjaya during the development of the Jeju Recreational Residential Complex. Allegedly violated its investor protection obligations.

Berjaya said in a statement of arbitration that the company has incurred at least about KRW4.4 trillion (direct loss of about KRW300 billion and loss of about KRW4.1 trillion).

Berjaya was not informed in the arbitration of the lawsuit concerning the legality of expropriation of land for the land offered by the Jeju Free International City Development Center at the time of the joint venture agreement in April 2008. The court alleged that the Supreme Court's decision to cancel the acceptance of the settlement was incapable of proceeding with the project.

When formal mediations are filed, things get complicated. If the dispute is not resolved, the case shall be referred to arbitration. Regardless of the ongoing lawsuit, it is possible and our government cannot refuse it.

Arbitral awards are limited to the financial loss of the investor, the applicable interest, and the restoration of property. Once the arbitral award is concluded, it has its own strength. The petition itself is impossible, so it is impossible.

The government plans to actively respond by forming a joint response system by forming the 'International Investment Dispute Response Team (Director of the Ministry of Justice), which includes the Ministry of Land, Infrastructure and Transport, the Ministry of Strategy and Finance, the Ministry of Strategy and Finance, the Ministry of Foreign Affairs, the Ministry of Trade, Industry and Energy, and Jeju Island. .

The arbitration proceedings and disputes will be undertaken by the Ministry of Justice's International Legal Affairs Department, the General Affairs Bureau will be responsible for the BIT, and the Ministry of Land, Infrastructure and Transport will be in charge of the Jeju Island Development Project.

Yerae Recreational Residential Complex Project is a large-scale tourism development complex where Berjaya Jeju Resort invests 2.5 trillion won from 2008 to 2017 on the 74,1193㎡ site of Yerae-dong, Seogwipo-si.

The Supreme Court hit a turning point in March 2015, judging JDC's land acceptance decision on its business sites. The business ran into a wall when the court interpreted the defect as apparent until the disposal of the business.

Among the 9 phases of the project, from March 2013, the construction of the 149 households of Gotjawal Village with a total area of ​​39,9448㎡ on the business site was completed.

When the issue of land acceptance and the licensing process arose, Berjaya filed a lawsuit against the JDC on November 6, 2015, demanding an astronomical compensation of 350 billion won.

What KFC? The last around already eating Lobsters & Abalone..next round should be eating White Truffles & Wagyu...

Good move by VT to get your foot in the door in Myanmar?

"To enter a business or organization at a low level, but with a chance of being more successful in the future"

Btw Myanmar Parliament, just passed The Gambling Law (“GL”) on 7 May 2019 to allow Casino & Gambling..

ttps://www.dfdl.com/resources/legal-and-tax-updates/myanmar-legal-alert-new-gambling-law-permits-casinos-to-operate-in-myanmar/

Since u are looking at BJCorp & has financial background, here's latest BJCorp Capital Structure from WSJ for your info:

Total Debt to total capital: 45.87%
Total Debt to total assets : 28.63%
Long-term debt to equity : 40.26%
Long-term debt to total capital : 21.79%
Long-term debt to assets : 0.14%

Liquidity:
Current Ratio: 0.99%
Quick ratio : 0.61%
Cash ratiio:: 0.28%

Acceptable current ratios vary from industry to industry and are generally between 1.5% and 3% for healthy businesses... Eventhough BJCorp's current ratio is 0.99%, It's current assets still meets current liabilities and so far no problems to meet it short term obligations as it is still a going concern. Having said that, in order to move forward to a more acceptable industry norm for current ratio, BJCorp needs be restructured to streamline its operations, reduce overlaps & increase assets/mgt utilisation efficiency etc.

Details below:
https://ibb.co/FYy4c6J
https://quotes.wsj.com/MY/3395/financials

Since u all keep harping on the debt...just look at BJLand's capital structure below:
https://ibb.co/2FrpbbF
Total debt to total equity: 69.66%
Total debt to total capital: 41.06%
Total debts to total assets: 23.53%
Interest coverage: 2.37%

"The interest coverage ratio (ICR) is a measure of a company's ability to meet its interest payments. Interest coverage ratio is equal to earnings before interest and taxes (EBIT) for a time period, often one year, divided by interest expenses for the same time period."

From the above, Total Debts to Total Assets is only 23.53%. While Interest Coverage only 2.37%, so BJLand has no issues to pay interest on its debt.

Further Total Debt to Total Capital is only 41.06% which is sup sup soi for VT

Happy Merdeka! Enjoy Ur weekend...

No more Ivan?

Something of interest?

https://www.theedgemarkets.com/article/should-regulators-make-privatisation-more-difficult-bursa

VT definitely has a plan as he has to do something before 20/10/19 for the Group's reorganization plan?

Bursa Securities’ right to proceed to suspend the trading of the listed securities of BMedia and to de-list the Company in the event:-

the Company fails to enter into the said definitive agreement by 20 October 2019;
the Company fails to submit the Plan to the regulatory authorities on or before 20 December 2019;
the Company fails to obtain the approval from any of the regulatory authorities necessary for the implementation of the Plan; and
the Company fails to implement the Plan within the time frame or extended time frame stipulated by any of the regulatory authorities

https://www.klsescreener.com/v2/announcements/view/29073146

That catalyst could be coming sooner than you think? Btw our internet star didn't post anything apart from complaining...can only eat, drink & sleeping after reaching FS Kyoto? Under news Embargo?

"Chinese desire for Kyoto ‘villas’ pushing up prices in city"

http://www.asahi.com/sp/ajw/articles/AJ201901220005.html

Lost RM110 million can still maintain price at 26 sens for BJCorp today? Bravo to VT & team for preserving the conversion ratio?

Thiese 2 days before 3rd September is the end of 6 months from the Penta 38/30 deal with BJCorp for BJLand shares, very important for VT to calculate the 5 days VWAP needed for the initial offer? so don't be distracted by the noise.

Similarly the Dow went up 258.2 points yesterday because recession isn't happening tomorrow so don't pour away the water just because of the sound of thunder.

https://www-barrons-com.cdn.ampproject.org/v/s/www.barrons.com/amp/articles/dow-jones-industrial-average-gains-as-a-recession-isnt-happening-tomorrow-51567025744?amp_js_v=a2&amp_gsa=1&usqp=mq331AQEKAFwAQ%3D%3D#aoh=15670505765587&referrer=https%3A%2F%2Fwww.google.com&amp_tf=From%20%251%24s

If BJCorp lossed RM110 million this Qtr &. Still remains at 25.5 sens & can't fall?

Since already boarded...should sell BJCorp & buy BJLand as still got 5 sens premium? Remember a sword cuts both ways, when u make too much non monetary inpairment losses. Hopefully VT & team can defend @ 25 5 sens?

Should play catch-up to BJCorp today. According to BJCorp's latest Qtr. results just released, made a loss of RM 110.4 million after tax & minority interest on a Turnover of 1.42 Billion and still worth 25.5 sens?

The beautiful part is the peg at 25.5 sens for BJCorp has been there for months! Apparently VT is not willing to sell lower than that in the daily lefthand to righthand exercise...just wondering why?

Based on the consolidated 14 months results just announced, BJLand made a RM351 million net profit for the period, on a Turnover of RM7.32 Billion, with basic earnings of 2.97 sens per share which is not bad.

For the coming AGM, VT might just announce a dividend for himself & minority?

https://ibb.co/mCYvTJR

Yup...abnormal increase in Macai activities.. anyway this few days before 2 September is the end of 6 Mths from BJCorp's official purchase date of BJLand shares from Penta on 3 March?

With provisions for all sorts of impairment loss behind BJLand, the balance sheet has been scrubbed clean by VT & team before the good things come back! Btw there seems to be a news blackout from our internet stars today, something's cooking?

Wah! So fast arrived at FS Kyoto already? Another urgent meeting with prospective Chinese buyer?

https://ibb.co/ryThL8p

TunM's Dialog & Dinner with Malaysia Diaspora held at Sheraton Hanoi Hotel owned by BJLand..wah VT...such big cables!

https://ibb.co/88RTHpm

TunM is currently on a 3 days official visit to Hanoi, Vietnam. Guess who is also currently in Hanoi to inspect BJLand's 50% owned Sheraton Hanoi Hotel & Hanoi Garden City project developed by Berjaya Handico12 a JV owned by BJLand in Hanoi.

if sales of previous BJLand projects in Vietnam already made more than RM200 million profits what about the above mentioned Vietnam properties still owned by BJLand in Vietnam also sales for profit? as BJLand intents to exit Vietnam's hotel business?

https://ibb.co/xLB21pt
https://ibb.co/mhfPLhY

https://www.thestar.com.my/business/business-news/2018/12/29/berjaya-land-plans-to-exit-vietnam-hotel-business

Just woke from my afternoon nap. Looks like most stale day (T2+1) traders has been flushed out? After a small storm always appears beautiful rainbow :)

Good! Here's some interlude to pass the time..while waiting for VT's initial offer?

https://youtu.be/6E2hYDIFDIU

Don't fall into Mgts's trap that's precisely what they want u to sit idly by while they do the lefthand to righthand dealings, we suspect BJLand is working out the 5 days VWAP for privatisation purpose, these few days are crucial to determine what will be VT's initial offer.. to minority in case of Privatisation!

Yup! This confirms the accounting trick to defer recognition of profit for the current Qtr.

Berjaya Land Bhd (BLand), which is controlled by tycoon Tan Sri Vincent Tan managed to post a net profit of RM148.03 million for the cumulative 14-month period.

Quarterly and cumulative revenue stood at RM1.08 billion and RM7.32 billion respectively, the group said in an exchange filing.

BLand said profit during the two months under review was impacted by unfavourable fair value changes (non monetary provision impairment) of investment properties, gaming rights, assets of disposal group, as well as that of goodwill.

Majority are provisions for impairment on goodwill which are non monetary in nature (a favourite accounting trick by VT's Accountant to hide the actual profits), such provisions can be reversed anytime to recognise the profits at a later date. If VT is buying aggressively on all his counters at the same time when such impairment loss are simultaneously announced out of nowhere, with increased Macai activities points to some corporate actions in the near future?

对，这是买便宜的最佳时机！

忽略噪音只是跟随你的心脏并逢低买入!

Right! if no corrections in light of new facts established...the analysis is faulty anyway & discredited! Btw seems pro-establishment & not on minority side?

According to Nomu website above:
There are still 11 units of FS Kyoto Residences left for sale out of the original 57 available.

https://ibb.co/5nxY02S

Once the 57 FS Residential Units are sold, according to VT, the FS Hotel which is also available for sale for RM1.68 Billion is free to BJLand/BJCorp!

The FS Kyoto Hotel & Residences has:
* 180 units of Residences (out of which 11 out original 57 hotel Residences are available for sale.
* 123 hotel guest rooms.

https://ibb.co/C0v0Sbw

Maybe the FS Hotel sales has not been finalized yet. That's why the listing has not been removed yet?

But pls.note that there are 2 packages in the FS Kyoto Hotel & Residences development.
* Four Seasons Kyoto Hotel main building (worth RM1.68 Billion) already paid for with the sale of 57 FS Residential Units and called free Hotel by VT
* FS Kyoto Residences - made up of another 57 FS Residential Units separate from FS Kyoto Hotel (37 units confirmed sold by VT in Dec. 2018), balance of 20 units would have been sold by August 2019
* Some units listed by international property house maybe resale FS Kyoto Residential units by individual owners & not necessary BJ Kyoto.

e.g. refer links

https://www.jamesedition.com/real_estate/higashiyama-ku-kyoto-shi-japan/four-seasons-hotel-residences-kyoto-higashiyama-10604837

https://www.nomu.com/pro/fourseasons-kyoto-en/

The FS Residences unit listed by Sotheby's already sold?
https://www.sothebysrealty.com/eng/sales/detail/180-l-4432-kps4ct/four-seasons-hotel-residences-kyoto-the-garden-suite-2-kyoto-ky?gclsrc=aw.ds&&gclid=CjwKCAjw44jrBRAHEiwAZ9igKPu9Fm3K5BCw_kRF8QVvF26hfSvb7SZamyOE-ECNfvJRouSNu9phNhoCu7cQAvD_BwE

Recall:
"On the divestment of the Four Seasons Hotel and Hotel Residences Kyoto, he said the group is still in talks with several parties as it is looking for a “high” price for the property.

“Most probably we would sell the whole stake in the hotel but we still have over 20 units of residences that we might keep or sell later when the price is right,” he said.

Four Seasons Hotel and Hotel Residences Kyoto which officially launched in December 2016, built on land bought at low price in 2009 and fully paid for it, with the US$400 million development cost to be funded via bank borrowings.

“Once we sell the residences (out of 57 units, 37 units already sold in Dec. 2018, by Aug. 2019 most of 20 units left would have been sold with Japan Olympics in 2020! we would manage to pay the bank’s borrowing off and we will get free hotels (with FS Residences sold!, FS Kyoto Hotels is free!) plus cash,” he said.

The tycoon said the group also plans to list its hotel business, which it does not intend to sell and hold for the long term particularly its Malaysian hotels, and is still in talks with some minority stakeholders (minority foreign funds shareholders like Penta & Macquarie Bank?) on the move (Privatisation?) he group expects the divestment to be finalised soon.

http://www.frontdesk.com.my/index.php/2019/01/17/berjaya-to-build-four-seasons-resort-in-okinawa/

At Four Seasons Kyoto on 29 Nov. 2016,, about 50% of the 57 hotel residences has been sold at US$5,000 to US$6,000 per square foot. Tan said prices for the remaining units will be higher. ttps://www.thesundaily.my/archive/2077748-MTARCH411592

Remember a knife cuts both ways.. pressed to 15 sens already lost RM500 million, if pressed to 5 sens even VT will lose his pants, as he is not the only one who could afford to Buy, there many others waiting for this chance that comes once in every 10 years.

The difference is VT only has 56% BJCorp vs 85% BJLand so not that easy to press...anyway even a Fox wants it's day in the Sun..so the same with VT, very sure he also wants to be listed among the top 10 richest man in Malaysia comes 2020?

Note: VT was worth RM1.2 Billion in 2010, now left only RM770 million, come 2020 his Fortune might doubled/ to RM1.5 Billion or more.

https://www.forbes.com/profile/vincent-tan/#18cd8fe21d0b

This will be a fitting Final Curtain for those who camped here...

https://youtu.be/6E2hYDIFDIU

Don't have to be here If you already?

Unless sonebody got seller's regret?

Said earlier...
"Finish sell ,,bye bye"