I shall lay back for the next 2 or 3 days and watch on the sideline. I'm not in a hurry since the mist hasn't cleared up enough yet for me.

There are many bogeymen aroundif you havent noticed. Issues within AA that have been raised and being addressed by the administration, falling currencies,local politics, China, Europe n the refugees at their doors, commodities and oil crisis,terrorism, potential flashpoints in our regional neighbourhood, to name a few obvious ones.

I am sorry you took my friendly reminder in this fairly bullish run-up negatively. It is not to spook anyone, just a reminder. I wish everyone of us happy trading.

I have had 3 good rounds. Now I just want to see how things will pan out between now n 23c. It is a significant milestone, one where shortists may be squaring off and exiting in which case, we may see a temporary and mild reversal and thereby opportunity for medium and longer term investors to come in to stock up.

I see easy upside up to RM2 especially when just about all local analysts are recommending BUYs with targets way above RM2.

I am still in the market. If there is a reversal, I should have another good trading round. If not, I shall collect gradually in smaller blocks on price weakness up to RM1.50 before outcome or solution of IAA's licence and related issues.

http://www.cnbc.com/2015/06/23/negative-airasia-report-revealed.html

As reported on CNBC on 23rd June 2015, "GMT advises selling or shorting AirAsia stock, saying its fair value is 1.23 ringgit a share or less".

Well, shortists had been shorting and stockists selling as advised. As we near the price level indicated bt GMT Research as the fair value more than two months back, should we not be expecting a temporary lull in AA's uptrend or a reversal? Afterall, the market has been behaving very much as dictated by GMT's advices so far.

Sold all my latest holdings at 1.08, 1.09 and 1.10. Thanks again, market.

Last week, foreigners were 48.8m net buyers on Tue, and 268.4m, 202.7m and 209.2 net sellers on Wed, Thu and Fri respectively.

Wellington Group bought AA on Tues 1st Sep.

I think CANI9906 meant the DowJones Futures Index. Just now it was down 129 pts.

http://www.sgxniftydowfutureslive.com/index_files/DOWFUTURES.htm

As filed yesterday, Wellington Managenent Group still had a 9.069% Indirect/Deemed Interest in AA as at the end of 28 Aug 2015. That is 252.4m+ shares.

At 31 Dec 2014, they had 388.5m+ shares or a 13.5% holding in AA.

Great trading ground, AirAsia. All trades profitable so far and all outstanding positions in the money.

At these levels even if trapped, still considered a good investment to hold. Perfect trading ground.

Bought at 87c on Monday, 83c and 78c yesterday, and 80c today. Sold everything today for cool profits.

Will do more trading in the coming days.

I wonder whether we should take special heed of VT's saying that he himself can't believe it (that BJCorp is worth RM3b)?

Perhaps some people are a little upset that Calvin has not yet decided to launch 'Operation Tong Sampah' which he said he would do when the price drops to 35c.

When their hard earned money is put to investment risks, I suppose people should be entitled to change their minds and move the goal posts in light of the changing conditions in highly volatile environments.

In doing so, they may make more or less money, or lose less or more, who is to know? There is an element of gambling involved.

"Today, Berjaya Group is worth RM3bil and I myself can’t believe it", VT said according to an article dated 15th August 2015 in Malaysia-Chronicle - 'OH THAT VINCENT TAN IS A FAILURE!' Dr M's loyal pal tells how hard work & luck made him a billionaire

Based on a worth of RM3b, the price of BJCorp is approximately 69 to 70c a share.

The reported net asset per share is RM1.5863.

At 36c a share in the KLSE, just buy some more lah.

Cyohua,
Sorry, I was out of phase by 1 month. The correct days were 29/06, 30/06 & 03/07 and the acquisitions were 4,250,000, 1,597,300 & 1,152,300 units respectively. The closing prices were fairly in the mid-range of each day which I used to arrive at a weighted average price of 40.4 sen. It is not necessary an accurate estimate because the correct figures are not disclosed. Pardon me for the confusion.

The acquisitions are announced on the KLSE Website. Select; Category: Changes in Shareholdings, Sub-category: Changes in Sub, S-hldr's Int, Company: Berjayz Corp Bhd. Then hit Submit and go to latest 2 VT's shareholding changes announced on 3rd & 9th July 2015.

Go to i3investor.com, hit Stock Quote, search bjcorp-, you will see the 4 active call-warrants, CT, CU, CW & CX, listed at the top of the dropped dialog box, search each of these on your brokerage online trading platform for profile info which gives you all the ipo detais of the CW and search stock info on the same platform too to give you the current outstanding status of the CW.

In the same dialog box above, you also can see a continued list of loan stocks, LC & LD, detachable warrant WB and newly converted ordinary BJCorp shares, OA, which are not entitled to FY15 dividend and the coming AGM voting rights. The profile and stock info can be found in the online platform as above.

You have to doubke check the info by cross-checking with the KLSE website for correctness because sometimes there are typo errors or outdated info.

Pleased to share.

Wow, 77.62% discount off the NTA at 35.5c. At this price, the market capitalisation is less than $1.54b.

BJCorp's shares in BJToto alone are worth more than $2b.

Cyphua, I just looked at the historical trading records of those 3 days which were narrow ranges of 38.5 to 39.5 twice and 38.5 to 39 once. So it cant be far from this estimated figure.

Sori, a typo correction ...

The average price of the 7m shares should be around 39c.

VT bought a total of 7m BJCorp shares on these three days, 29/07, 30/07 & 03/08. The average price he paid should be around 30c.

Four blocks of call warrant remain outstanding, totaling 165m issued units, all out of money currently and expiring at vafious dates before the year is out.

Outstanding loan stocks ICUL-LC are 583,444,131 units including the 211,220,823 units disposed by 3 subsidiaries of BJLand to undisclosed related parties recently. ICUL-LC mature on 31 Oct 2015.

Outstanding number of loan stocks ICUL-LD are 695,552,959 units, maturing in 22 Apr 2022.

There are 700,085,842 units of detachable warrants WB which will expire in 22 Apr 2022.

Total BJCorp shares issued are 4,331,768,408 including 182m treasury shares.

The above figures are as at the end of yesterday.

I think 2016 will be the year of this counter!

I have looked at the Berjaya stable on and off since the onslaught of the Asian Financial Crisis. However, I bought my BJCorp shares for the first time ever in Oct 2014, so I have not been a long time investor here. I am younger than VT and I consider him to be a very shrewd businessman and super dealmaker.

I am yet to see if I am going to make a lot of money investing in BJCorp but I think I shall, one fine day.

Agreed, Tuk. Accumulate.

It is understandable. Most people expect returns that they can see at regular intervals. They haven't mastered the horse stance to handle this counter yet. You need patience and must be able to be detached from the desire to see timetly fruition. Be prepared to pass on to your next of kin. Remember, if you didn't think this counter was any good at one time, you wouldn't have ended up here at all and if you have really changed your mind subsequently, you would have cut your losses a long time ago. Chill.

This time, I think hng33 will go for higher returns. Hari Raya coming.

Yawn, it's the Tom n Jerry show this morning.

Re-positioning. Shaking the tree, hold tight.

I felt a rumble, something moved under my feet.

Keep an eye on VT and related parties' acquisitions of BJCorp shares over a 6 month period and scream when the total heads towards 86m. He just might up the ante for some exciting time ahead.

Wow, a move not so fine. The pace quickens.

The last massive corporate re-structuring exercise which took place from 2003 until Oct 2005, marked by the name change to the current BJCorp, will be exactly 10 years ago, come Oct 2015. During these 10 years, the stock price had peaked @1.87 on 14 Apr 2010 and bottomed @0.38 on 17 Dec 2014.

Incidentally, ICULS-C will be expiring on 31 Oct 2015. Look at these staggering figures. Original LC's issued were 9,794,902,878 units @0.50 each. Current outstanding LC's are 584,448,185 units which if fully converted via a no cash payment option will be dilutive by 292.23m units. Current BJCorp shares issued are 4,331,768,408. Treasury held shares are 182m.

My hunch is there will be no tankuku pain. There has to be a harvest time before the major correction slated to be in 2017/18.

Hey, it's only a hunch.

Don't get me wrong. I am not that disappointed but a 1c dividend has been the minimum expected. We shall just simply tread on as it is a long play. The directors have cautioned for a challenging financial year ending 30.04.2016.

One more year of Teochew porridge

Tony's strategy is to build up market shares in the first few years offering value for money products that come with low fares, reliable and decent services. When he has achieved his targets, he will slowly begin to increase the operational revenue by charging the loyal customers more for services rendered by which time the customers would not really mind paying their favourite airline a little more anymore. Air Asia is still he most competitive airline around.

@Vincent Tan,
The answer is yes.

MANDATORY OFFERS - Trigger point

A bidder triggers the obligation to extend a mandatory offer to acquire all the shares of the target company which he or persons acting in concert with him do not, already own if:

 the bidder, together with persons acting in concert with him, acquires more than 33% of a company; or

 the bidder, together with persons acting in concert with him, holds between 33% and 50% of the voting shares or voting rights, and acquires more than 2% of the voting shares or voting rights in any period of 6 months.


There are two other instances where a mandatory offer is required to be made: acquisition of upstream company and acquisition of between 20% and up to 33%.


Reference:
Malaysia Takeover Guide
Contact
Lee Won Chen
Rahmat Lim & Partners
chen.leewon@rahmatlim.com

Last chance tonight to buy MOLG before they release the next Qtr figures tomorrow night at 8pm our time.

Buy on the cheap now. Good luck all.

I beg your pardon, LD matures in Dec 2022.

BJCorp's price is likely to stay at the low level up to the end of Oct 2015 when the LC expires or when most of the outstanding 586m issued loan stocks have been converted to ordinary shares. Remember there is no interest receivable holding this LC. Conversion is 2LCs:1 Ord Share.

This way liability is reduced by issuing equity in a swap exercise. You can guess who are the people holding these LCs. Probably the same people who want and are keeping the mother share price down.

The other 695m loan stocks (LD) mature in Dec 2012 and pay an interest. There is less need to be creative holding these scripts.

I am positioned to take profit this round. Let it move up some more.

The price of this counter does not move conventionally. Just have to be as stubborn as it is unconventional. No redemption for the core investment block until the hot air balloon stage and, tmeanwhile, build a few trading blocks to take profit whenever opportunities arise.

This way, the wait will be more tenable.

Sorry,... plans ...

Very illiquid.

if you are already holding enough BJCorps around this level, take a short excursion away to look at CHHB. Looks like something is finally rousing.

LKY ready to assume chairmanship of CHHB anytime now And announce pksns for the future?

Cephas

I suppose the 19c came from remeasurement of a subsidiary's value subsequent to change in its status from controlled to non-controlled and was directly credited to reserve account because this portion is still owned/not sold and therefore no profit realised.

There are many such nuggets within the Group. Apart from these 'not-yet-booked' wealth, there are more collosal 'not-yet-booked' wealth in many properties held since the earlier days which can be many many times their current book values.

Imagine if you had bought tons of gold wgen they were USD40 per Troy ounce and today priced at approximately USD1200. What is your gold worth today? Factor of 40 or 1200? Even if you are not not getting an income from it in the meantime.

The downtrend was exactly 4 years and 8 months from 14 April 2010 to 15 December 2014, from a High of 1.87 to a Low of 0.38. Since Dec, it has been an uptrend So far.

If you have not traded your stocks during this uptrend period, I don't think you have lost out to the traders on today's count. So either way you had played, the difference would not have been much.

Agreed, a clear and decent dividend policy practised with consistency will definitely make the company more investable. For a start, funds will be more interested to look into its prospects. If they are interested, a dividend may be enticing enough for them to be considered stocks to hold for a longer term. A fund holding the stock in their portforlio may decide to increase their holdings in times of price weakness thus giving support or during times when prospects are brighter thus pushing the market price higher.

As it is now, no local funds are interested.

If the Group management carries on as suggested above, I am pretty sure there will be a substantial upward movement in the BJGroup share price. Easily over $1. A lot more when there are news of special happenings.

I would like to receive a decent dividend yearly with a 5% yield, more whenever possible.

I would also like the company to continue building businesses to realise high value increases on maturity, and to accumulate good landed assets.

As long as the group generates enough income to service all borrowings and cover all overheads comfortably after dividends, new investments and taxes, I would not be too preoccupied with paring down debts.

If there are not enough good investments to put the cash to use, return the surplus of the pile to shareholders or use it to buy back the group's shares or reduce the debts, in that order of priority.

And, every 5 years, give an extra huge dividend, equivalent to at least 12% of the nta, in cash and/or shares-in-specie to the reward the loyal investors.

Calvin,
Thanks for your more indepth info and impact on the different segments of property in Iskandar.

Caution advised on Iskandar residential, commercial property: Maybank

Oversupply, "huge incoming supply" in a crowded development space and "aggressive landbanking activities" by Chinese developers among the reasons for concern flagged by Maybank Investment Bank's research unit. "We prefer the Klang Valley and Penang over Iskandar."

http://www.channelnewsasia.com/news/singapore/caution-advised-on/1790094.html