There's 2 more issues yet to be addressed, (1) Vietnam project disposal, think value is around 250 million or more (2) Selangor Turf Club, don't know how much Selangor state government has to pay, and to whom, BCorp or BLand?

Felt like BCorp and BLand are trying to downplay the impact of Kyoto Four Seasons disposal and Jeju compensation on BLand's balance sheet.

https://www.theedgemarkets.com/article/bland-reaches-settlement-south-korea-jeju-airest-city-dispute

However, BLand said the settlement will not have material effect on its earnings, net assets and gearing for the financial year ended June 30, 2020.

*** of course there won't have material impact for FY ended June 30, 2020. It's announced on June 30, 2020 and has yet to be completed! Feels like BLand is making an announcement trying to downplay the true impact of the deal???

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3064536

Immediate Announcement on Shares Buy Back

BERJAYA CORPORATION BERHAD


Date of buy back 30 Jun 2020
Description of shares purchased ORDINARY SHARES
Currency Malaysian Ringgit (MYR)
Total number of shares purchased (units) 400,000
Minimum price paid for each share purchased ($$) 0.190
Maximum price paid for each share purchased ($$) 0.195
Total consideration paid ($$) 76,606.83
Number of shares purchased retained in treasury (units) 400,000
Number of shares purchased which are proposed to be cancelled (units) 0
Cumulative net outstanding treasury shares as at to-date (units) 340,600,000
Adjusted issued capital after cancellation
(no. of shares) (units) 5,214,924,527
Total number of shares purchased and/or held as treasury shares against total number of issued shares of the listed issuer (%) 6.53000

Sslee, thanks for sharing

BLand spent more than RM 30 million to buy into BFood and 7-11 since the disposal of Kyoto Four Seasons.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3053927

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3048372

BCorp already shows they would rather have BLand buying into BFood and 7-11 than paying dividend. Combining to what's announced in the ratification announcement, best request a confirmed amount of dividend to safeguard minority shareholders' interests.

And if you read the first announcement,

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=200466&name=EA_DS_ATTACHMENTS

NO PLAN to pay for dividend AT ALL!!! UNLESS it's WRITTEN, it means NOTHING!

https://www.klsescreener.com/v2/announcements/view/3182669

The announcement is a first step to provide clarification into the disposal of Kyoto Four Seasons. I am glad as a minority shareholder that they are offering further insight into the deal. Though, since VT has made a promise for dividend post disposal, it should make clear how much will be allocated as dividend. Would appreciate a dividend that's equivalent to 10-20% of the disposal proceed. BCorp and BLand will still be able to keep 31-41% for future projects.

https://www.klsescreener.com/v2/announcements/view/3182669

The announcement is a first step to provide clarification into the disposal of Kyoto Four Seasons. I am glad as a minority shareholder that they are offering further insight into the deal. Though, since VT has made a promise for dividend post disposal, it should make clear how much will be allocated as dividend. Would appreciate a dividend that's equivalent to 10-20% of the disposal proceed. BCorp and BLand will still be able to keep 31-41% for future projects.

elwinPg, it's a big joke buying Singer at net asset but issuing new BCorp share at 72% discount to net asset and seeking minorities patience. In that case, why don't VT be KINDER, selling Singer at 72% discount to net asset by issuing new BCorp share at net asset and urge VT to be patience until the board of directors he picked start to perform. Oh, right, the proposal asking minorities' patience requires BCorp to issue 1.1 billion new BCorp shares, while the proposal asking VT's patience requires BCorp to only issue 88 million shares. YOU SEE THE DIFFERENCE?

think Q4 result will be very bad, no revenue from BToto or BLand's hotel... If collection can be completed before June 30, at least BLand will show profit.

sslee, thanks.

with no news yet on China Great Wall payment, guess it will take some time for BLand to collect the over 600 million owed...

Err... What I meant is distributing bland shares to bcorp shareholders for free, probably like 1 bland shares for every 10 bcorp shares held. Bcorp will be able to distribute 500 million bland shares, easily reach the 20% shareholding spread required by bursa.

err... distributing BLand shares to BCorp shareholders to meet shareholding spread while meeting the dividend promise?

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3061112

PUBLIC SHAREHOLDINGS SPREAD

BERJAYA LAND BERHAD


Type Announcement
Subject PUBLIC SHAREHOLDINGS SPREAD

Description PUBLIC SHAREHOLDING SPREAD REQUIREMENT PURSUANT TO PARAGRAPH 8.02 OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD




Further to our announcement dated 24 March 2020, the Board of Directors of Berjaya Land Berhad (“BLand” or “Company”) wishes to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) has, vide its letter dated 22 June 2020, resolved to accept the minimum public shareholding spread of BLand of 20% (“20% PSS”) as in compliance with Paragraph 8.02(1) of the Main Market Listing Requirements of Bursa Securities. In this regard, BLand is required to comply with the 20% PSS by 23 September 2020.


Currently, the public shareholding spread of BLand stood at 13.295%, a shortfall of about 6.705%. The Company has yet to formulate any rectification plan to address the shortfall in the 20% PSS but will explore all possible options to meet the 20% PSS by 23 September 2020.



This Announcement is dated 23 June 2020.

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3061112

PUBLIC SHAREHOLDINGS SPREAD

BERJAYA LAND BERHAD


Type Announcement
Subject PUBLIC SHAREHOLDINGS SPREAD

Description PUBLIC SHAREHOLDING SPREAD REQUIREMENT PURSUANT TO PARAGRAPH 8.02 OF THE MAIN MARKET LISTING REQUIREMENTS OF BURSA MALAYSIA SECURITIES BERHAD




Further to our announcement dated 24 March 2020, the Board of Directors of Berjaya Land Berhad (“BLand” or “Company”) wishes to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) has, vide its letter dated 22 June 2020, resolved to accept the minimum public shareholding spread of BLand of 20% (“20% PSS”) as in compliance with Paragraph 8.02(1) of the Main Market Listing Requirements of Bursa Securities. In this regard, BLand is required to comply with the 20% PSS by 23 September 2020.


Currently, the public shareholding spread of BLand stood at 13.295%, a shortfall of about 6.705%. The Company has yet to formulate any rectification plan to address the shortfall in the 20% PSS but will explore all possible options to meet the 20% PSS by 23 September 2020.



This Announcement is dated 23 June 2020.

Useless if promises not delivered, hope VT will confirm a dividend FY 2020 for both bcorp and bland

Simon, bland IR also Lydia if I were not wrong

Err.... I'm asking bland BOD about the share of kyoto disposal, and bland only managed to tell me to refer to bjcorp EGM after 1 week? is the BLand BODs still being paid to oversee BLand???

Err... The above is one hell of a response pertaining to disposal of Kyoto Four Seasons. It's as if BLand shareholders are not entitled to know!!!

On Monday, June 22, 2020, 06:36:54 PM GMT+8, Berjaya. com. my-Media <media@berjaya.com.my> wrote:


With regards to your queries below, we would like to recommend that you raise your questions at the BCorp EGM for the ratification of the disposal of the hotel component of the Four Seasons Hotel and Hotel Residences Kyoto, Japan on 1 July.





Thank you and kind regards,

Lydia



----- Forwarded Message -----
To: Berjaya. Com. My-Media <media@berjaya.com.my>

Sent: Monday, June 15, 2020, 10:55:21 PM GMT+8

Subject: Fw: Berjaya Land - disposal of Kyoto Four Season



Dear Lydia,



Err... After the email sent earlier (attached) requesting further information into the Kyoto Four Season disposal, I have spent some time reading into the announcement made by BCorp pertaining the disposal of Kyoto Four Season (link as follow.)



Announcement details



Announcement details


It seems that BCorp is planning to use RM 1.218 billion from the disposal proceed to pare down debt at BCorp level while an additional RM 329 million to pare down debt at BLand level. Isn't the joint venture a 50-50 ownership by both BCorp and BLand? Curiously, exactly how much is BLand expected to receive and how's that differ from its 50% ownership?



Thanks in advance.



Best regards,


----- Forwarded Message -----

To: Berjaya. Com. My-Media <media@berjaya.com.my>

Sent: Monday, June 15, 2020, 10:36:58 PM GMT+8

Subject: Berjaya Land - disposal of Kyoto Four Season



Dear Lydia,



It's to my understanding that Kyoto Four Season is a 50-50 joint venture between BCorp and BLand, am I right? When reading through the most recent quarterly report of BCorp, I noticed that BCorp received RM 2.008640 billion from the disposal of Kyoto Four Season. Meanwhile, in the most recent quarterly report of BLand, I haven't noticed a similar cash flow from investing for BLand (RM 1.004320 billion from it's 50% ownership). May I know why? Furthermore, may I know what's BLand's BOD plan for said fund and if any dividend will be declared from such an outstanding sale of an asset?



Thanks.







Best regards,

sslee, I see, thanks!

sslee, if your cc didn't result in a SC or Bursa investigation, what good is it then? thanks. frankly, thought your earlier email would result in Bursa initiating investigation into Singer deal.

sslee, thought you intend to email to Bursa or SC? thanks...

sslee, did you receive any rely from bursa or bcorp? I have yet to receive mine, thanks.

err... it's not fair requiring VT to 'fast fast get it up'. I would prefer VT start delivering shareholders' promises, like paying dividend, stop nonsense deal like buying his Singer, and further streamlining businesses to optimize the company. So long the company's businesses are better run and shareholders interest are taken care of, share price will move accordingly.

Doubt BCorp will be delisted...

Leong1982, clueless, but think has to do with classification. BCorp shows a 2 billion cash flow from investment because Kyoto is treated as a subsdiary while BLand doesn't show it because Kyoto is treated as an associate. Though, what's strange is the proceed is mainly used to pare down BCorp debt when its a 50-50 JV. Wonder why???

Anyway, already email Lydia and see what's the response. Probably will email SC and BURSA seeking an authority review into this. Kinda felt like BLand downplaying the effect of Kyoto disposal, hope not...

Curiously, BLand quarterly report provides no details of how BLand intends to utilize the proceed from the disposal of Kyoto Four Seasons nor show an incoming cash flow from investing pertaining to said disposal...

Dear Lydia,

Err... After the email sent earlier (attached) requesting further information into the Kyoto Four Season disposal, I have spent some time reading into the announcement made by BCorp pertaining the disposal of Kyoto Four Season (link as follow.)

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3055930

It seems that BCorp is planning to use RM 1.218 billion from the disposal proceed to pare down debt at BCorp level while an additional RM 329 million to pare down debt at BLand level. Isn't the joint venture a 50-50 ownership by both BCorp and BLand? Curiously, exactly how much is BLand expected to receive and how's that differ from its 50% ownership?

Thanks in advance.


----- Forwarded Message -----
To: Berjaya. Com. My-Media <media@berjaya.com.my>
Sent: Monday, June 15, 2020, 10:36:58 PM GMT+8
Subject: Berjaya Land - disposal of Kyoto Four Season

Dear Lydia,

It's to my understanding that Kyoto Four Season is a 50-50 joint venture between BCorp and BLand, am I right? When reading through the most recent quarterly report of BCorp, I noticed that BCorp received RM 2.008640 billion from the disposal of Kyoto Four Season. Meanwhile, in the most recent quarterly report of BLand, I haven't noticed a similar cash flow from investing for BLand (RM 1.004320 billion from it's 50% ownership). May I know why? Furthermore, may I know what's BLand's BOD plan for said fund and if any dividend will be declared from such an outstanding sale of an asset?

Thanks.

Think the last day for the buying party of Great Wall has to pay is June 20, which is this Saturday. Only after no payment by then can BJLand take action to collect, just don't know how???

Thanks, sslee

No dividend no privatisation deal, how to invest?!?

wantanmi, VT owns 49+% of BJCorp, NOT24%, and it's over 52% if the shares bought back are cancelled.

VT's name is dirty and bad now, I think. I am worried there aren't many fund managers willing to take a long term investment perspective with his companies...

Sslee, thanks

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3057031

1 Revenue
1,520,849

2 Profit/(loss) before tax
232,680

3 Profit/(loss) for the period
176,918

4 Profit/(loss) attributable to ordinary equity holders of the parent
144,180

5 Basic earnings/(loss) per share (Subunit)
2.89

This is the first time I received a reply from investor relation during a holiday and within the same day, much appreciated. Yet, the reply is worrying and I have emailed my concern seeking further clarification, particularly those of independent directors.


Dear Lydia,

Thank you for your prompt reply during the holiday, it is much appreciated.
Unfortunately, your reply is worrying, sounded as if an MOU is insignificant, exchange ratio is randomly picked before appointing advisers to validate a deal!
Could you kindly approach the BODs, particularly the independent directors to affirm, before entering into the MOU, if (2) (3) and (4) as written in my first email has been considered and their viewpoint?
Thank you for your attention.


Best regards,


On Monday, June 8, 2020, 09:59:04 PM GMT+8, Berjaya. com. my-Media <media@berjaya.com.my> wrote:

Good evening and thank you for your email.

Please find below BCorporation's reply to your queries.

1. The 2 days of trading suspension is required for the signing of the MOU as it involves negotiations to finalise consideration and issue price of the new BCorporation shares including the quantum of the premium to the market price of the BCorporation shares.

2. On your queries relating to Singer, we wish to inform that the required advisers are being appointed by BCorporation and a full announcement will be made by BCorporation on the proposed acquisition of Singer in due course. The announcement by BCorporation on 2 June 2020 is on the entering into the Memorandum of Understanding which is subject to the execution of the definitive agreements after the terms and conditions are finalized.

3. The Executive Chairman of BCorporation is also the major controlling shareholder of BCorporation and he supports all dividend payout proposed by the Boards. The Boards of BCorporation and BLand will do their best in the interests of their shareholders in particular the shareholders’ requests for 2019/20 dividends. The Boards will look into the proposed dividend after taking into consideration the financial positions, performance, commitments and impact of the Covid pandemic as well as the movement control order (MCO) on the BCorporation and BLand group of companies.



Kind regards,
Lydia

ooh, I see. Of course, I have to reveal my identity in my email. Just don't see a need to post it here

eddysurge, clueless, but like I said, if you are minority shareholder and you are concern, you can write in your concern to BJCorp CC to Bursa and SC like sslee suggested. My past experience with Puncak suggest a heavy disappointment over the 'protect minority' clause. But, if we don't even try, it'll only encourage the majority shareholders to be worse. Of course, SC and Bursa inaction will further exacerbate the situation to a collapsing equity market eventually.

To: Berjaya. Com. My-Media, aduan@seccom.com.my, aduan@bursamalaysia.com

Mon, Jun 8 at 2:38 PM

Dear Ms. Lydia,

With reference to the MOU BCorporation and BRetail have agreed in for BCorpration to acquire 100% equity interest in the Singer Group, may I know:

1. If the BOD deem 2 days of trading suspension justifiable just for signing the MOU which offer little information to minorities shareholders?

2. If the independent directors are aware of the MOU and if yes, what's their view of the MOU? Were they in principal finding valuing Singer at net asset value comfortable, and a proposal to satisfy the purchase with the issuance of BCorporation at 74.2% discount (issued at 0.33 per share with net asset of 1.28 suggested in the circular to shareholders per disposal of Kyoto Four Season) reasonable?

3. Have the board, particularly independent directors, considered the short and long term impact of Covid-19 as well as the trend of online purchase in reaching the MOU? Would they view delaying the acquisition to some time after the impact of Covid-19 is clearer be beneficial to the shareholders of BCorporation?

3. It is to my understanding, BLand, a subsidiary of BCopration which is listed on Bursa, is still suffering from liquidity concern with a spread of less than 15%. On March 24, 2020, BLand had mentioned about seeking the approval of Bursa Securities for an extension of time to comply with the approved minimum public shareholding spread requirement. May I know if the BOD of both BCorporation and BLand view the priority of addressing the liquidity concern should precede the acquisition of Singer?

4. During the past two AGMs, TSVT (Tan Sri Vincent Tan) has promised a dividend post Kyoto Four Seasons disposal, is the promise still intact? May I know if promises made during AGM has any legal consequences? I am sorry for having to ask this as I have been buying more BCorporation shares the past two years because of TSVT promises.

Thank you for your attention.


p/s: Would much appreciate Bursa and SC to look into this matter SERIOUSLY to protect minority shareholders' interests.



Best regards,

Roger123, still holding on to my puncak. Like i said earlier, will not trade but hold till exit price reached

A genuine tycoon does not need to create a never see the light proposal... Just show the profits and dividend and he'll win minorities support and appreciation

Eddysurge, may I know when did you send the email?

Stockraider, there's no further information of singer available, but a 20 million profit guarantee for a 1.1 billion new shares is surely absurd when a singer is sold at or close to net asset at a heavily discounted bjcorp net asset. If bjcorp net asset not performing, I would rather bjcorp improve efficiency and clean up balance sheet before buying anything, especially when the impact of covid-19 has yet to be known.

Any of you besides sslee has sent sslee's concern to bjcorp, SC, bursa and mswg? Any response? Will email mine this weekend to add a few more concerns of my own

sslee, may I know if you have deleted your post wrt to email to BJCorp, MSWG, SC and Bursa? Could you please repost? Meanwhile, may I know if you have received a reply from BJCorp, SC and Bursa yet? Thanks.

eddysurge， only SC can intervene, hope every concern shareholder write to SC

Dear Lydia,

How would an MOU that can ONLY be viewed in Kuala Lumpur be useful to shareholders not able to travel to Kuala Lumpur given CMCO?


Best regards,



On Wednesday, June 3, 2020, 11:20:18 PM GMT+8, Berjaya. com. my-Media <media@berjaya.com.my> wrote:

Thank you for your email.

We regret that we are unable to email a soft copy of the MOU.

The MOU has to be viewed at the Registered Office of Berjaya Corporation Berhad at Lot 13-01A, Level 13 (East Wing), Berjaya Times Square, No. 1 Jalan Imbi, 55100 Kuala Lumpur.


Kind regards,
Lydia



Dear Lydia,

I am a minority shareholder of Berjaya Corp. I am deeply concerned over the deal between Berjaya Corp and Berjaya Retail announced June 02. Would you kindly email me a copy of the MOU through email as I do not live in Selangor or Kuala Lumpur to visit the office for review?
Thanks.

Best regards,

Fight to have the deal cancelled better...

Market is scared by conman work. Only those with much higher holding cost like me have to wait. But one thing I'm sure, once left, will never look back at this company for life...