Actually, despite the concluded 3 deals, China, Jeju and Kyoto, bland has received ZERO money so far. Kyoto money still held at associate Co, jeju and China money yet to be received....

Wonder what will VT do? September 23 deadline to comply with shareholding spread.

Just don't sign an MOU or trying to tell shareholders agreeing into buying VT companies at net asset through issuing bcorp shares at 0.33 a share... Bcorp independent directors have yet to answer to this!

1.6 million shares sold at 0.175 after nobody want to buy?

Bcorp has not bought back any shares for quite some time already

err... email bland investor relation? doubt any of us here has any credibility to confirm if there's a dividend.

I guess that's why market is not excited over the news at all, really need to read extra carefully what BLand is announcing, I guess.

Dear Lydia,

With reference to Jeju Court Settlement, may I confirm the amount that BJLand would receive through its 100% subsdiary BLCL will be KRW102.00 billion (approximately RM362.19 million)?
With reference to BLand FY 2017 annual report, the carrying net asset of BJeju is RM 521.325 million, of which equities attributable to owners of the parent is RM 378.475 million. How would this court settlement results in an estimated gain of RM 59 million. Or, was I wrong in that BLCL is actually receiving more than RM 378.475 million?

Thanks.

Best regards,

err... this at best saying institutional buyers have sold their BLand, no mention about who's holding them. This could also explain why the price is lower, i.e., institutional investors selling down to clear their position?

VT mentioning about selling a hotel in Vietnam, probably this one?

a 50% ownership in Berjaya Hotay Joint Venture Company Limited Vietnam, five star hotel and provision of related services

Group 30.6.2019 RM'000
Non-current assets 202,628
Current assets 8,186
Non-current liabilities (107,230)
Current liabilities (22,289)
Net assets 81,295

VT mentioning about selling a hotel in Vietnam, probably this one?

a 50% ownership in Berjaya Hotay Joint Venture Company Limited Vietnam, five star hotel and provision of related services

Group 30.6.2019 RM'000
Non-current assets 202,628
Current assets 8,186
Non-current liabilities (107,230)
Current liabilities (22,289)
Net assets 81,295

err... difficult to comprehend what you guys are discussing. you guys were suggesting that most of the 14.+% free floating shares are mostly in the hand of VT and his buddies hands but still kept at low level? For what???

Truth is, 59 million profit from the Jeju Settlement is a huge disappointment if one recall what VT and his son mentioned in the AGM. VT and his son sounded as if the settlement will be huge, and a 59 million net profit is like peanut-sized bone thrown to dog by South Korean government after dragging the issue for years. Anyway, at least the issue is settled and BLand can move on.

Dear Lydia,

As a reference, when BCorp disposed Kyoto Four Seasons, in its announcement on Bursa as follows

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id...

BCorp has offered its shareholders an insight into how the disposal would affect its balance sheet and so forth. Could something similar be presented to minority shareholders of BLand?

Quite frankly, the disposal of Kyoto Four Seasons is worth over RM 2 billion with BLand has an equity interest of 50% and Jeju Court Settlement involves worth over RM 800 million of compensation. Yet, to this date, minority shareholder like me has yet to know HOW these two would affect BLand's balance sheet and how BLand will utilize those new fund.

Please forgive me, I am not account specialist and able to draw conclusion from the announcements that BLand has announced. I suppose there's no harm letting your shareholders who have invested in BLand a deeper understanding into what had happened. An announcement offering insight into BLand's financial health and plan post Kyoto Four Seasons disposal and Jeju Court Settlement would be much appreciated and bring relief to those who have invested in BLand for years.

Thank you for your attention.

Best regards,


On Friday, July 3, 2020, 03:44:16 PM GMT+8, Berjaya. com. my-Media <media@berjaya.com.my> wrote:



As stated in the BLand announcement dated 30 June 2020, the Settlement will not have any material effect on the earnings, net assets and gearing of the BLand Group for the financial year ended 30 June 2020 as the Settlement has not been completed in the financial year ended 30 June 2020.



Pursuant to the terms of the Settlement Agreement, the BLand Group expects and will account an estimated gain of RM59 million, barring any unforeseen foreign exchange fluctuations, upon the receipt of the net settlement sum in the first quarter of the financial year ending 30 June 2021.



An appropriate announcement will be made upon completion of the Settlement.

Regards,

Lydia

If VT kept his promises and declared dividend post kyoto four seasons disposal, I would think its OK to buy, now? Pui

I'm no balance sheet expert, especially when looking at bcorp or bland's, best let bland provides further details...

Dear Lydia,

On June 30, BLand announced it has reached a settlement agreement on Jeju's investment. Despite the hundreds of millions of compensation reached, BLand has announced "the Settlement will not have any effect on the issued share capital and substantial shareholders’ shareholdings of BLand. The Settlement is also not expected to have any material effect on the earnings, net assets and gearing of the BLand Group for the financial year ended 30 June 2020."

https://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=104455&name=EA_GA_ATTACHMENTS

Does that mean the settlement will not have any material effect on BLand's financial position post FY2020 as well? If it will have an impact, is BLand required to provide a proper analysis on the settlement's impact? If yes, could relevant announcement be made soon? Thanks.


Best regards,

If you look at the kyoto four seasons deal, most, at least I'm, would have expected at least 900 million will flow into bland coffer, instead the real amount is less than 600 million, or less? (clueless how the debt is structured)

Eric Lim, if what you said is right, then there should be a spike in share price. I have my reservation...

BLand should make an announcement detailing the impact of Jeju court settlement, not us guessing what's the impact. Sigh!

BLand's Btoto holding is already worth RM 1.2 billion, and BLand is worth less than RM 0.9 billion. Conglomerate factor? More like neglected minority shareholder interests factor...

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...