wantanmi, thanks for the clarification

There's a 4.75% liquidated damages on unpaid sum, so BJLand shall receive more than RM 650 million, though BJLand owns only 51% of that sum and there's no telling Beijing Skyocean has the money the pay or BJLand is holding on to sufficient collateral...

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3053140

BLand is pleased to announce that GMOC has on 21 May 2020 obtained a favourable arbitration award from the HKIAC (“Final Award”), details of which are as follows:-

(i) Beijing SkyOcean shall pay to GMOC the outstanding balance amount of RMB974.07 million;

(ii) Beijing SkyOcean shall pay liquidated damages on the outstanding balance amount calculated at the People’s Bank of China’s lending rate of 4.75% per annum from the payment due date of 28 November 2017 until the date full payment is made;

(iii) The Guarantors shall be jointly and severally liable for the amounts payable by Beijing SkyOcean under the Final Award; and

(iv) The Respondents shall jointly pay legal costs of about RMB15.9 million (or about RM9.72 million) and arbitration costs of about HKD3.96 million (or about RM2.23 million) within 30 days after issuance of the Final Award, failing which late payment interest at 8% per annum shall be charged from the due date until the date of actual payment.



GMOC will proceed to seek recognition and enforcement of the Final Award in all relevant jurisdictions after 20 June 2020, upon the expiry of the 30 days’ voluntary settlement period stated in the Final Award.

Best don't touch unless you have enough to buy the whole company... VT has already shown us what he can do, NO dividend, NO price support if he's not buying, and who knows what investment strategy that minorities ONLY assured one thing so far, not getting a cent of dividend.

learning how cheap billionaire can be?

err... personally, prefer a 1-2 cents dividend while all those shares bought back be cancelled.

Just time to realise one less joker in the board has no harm...

Leong1982 Sigh! Luckily stop buying this co's share months ago... Can only hope for best outcome, but with little faith seeing VT breaking promises two years straight since his 王者回归，now felt like 王八回归 to minority shareholders...

VT is the one deciding what BJLand's market value should be right now, whether it's to be delisted or not. With the disposal of Kyoto Four Seasons, Q3 earning report to be presented end of this month should be good. Unless BJLand receive compensation from either Jeju, China, or Selangor, Q4 earning report should be bad given sluggish property market and an almost shut down hotel operation. It's a sad thing BJCorp and BJLand didn't announce any dividend post Kyoto Four Seasons disposal.

wantanmi, thanks for the update. So, a license may benefit BJCorp only in the long term, not short term, cause the upfront fee is high. Currently, BJCorp is already holding on to a Vietnam Toto license that has yet to provide BJCorp a decent return, not to mention a broadcasting license through ANSA (was the company name correct?).

wonder if BJCorp were ever returned the RM 525 million?!?

wantanmi, and you forgot to add the following:

https://www.thestar.com.my/business/business-news/2010/05/17/is-berjaya-paying-too-much-for-ascot-stake

Is Berjaya Corp Bhd getting value for its money for the 70% stake it has proposed to acquire in Ascot Sports Sdn Bhd?

The price tag of RM525mil for the stake works out to RM9.37 per share based on Ascot Sports’ paid-up share capital of RM80mil comprising RM1 shares. The acquisition price is valued at six times price-to-earnings (P/E) ratio.

wantanmi, bjcorp already own a online sports betting license that can't be used. it would be stupid to pay another huge sum to only see another license that may never be utilized...

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3048683

BERJAYA CORPORATION BERHAD


Date of buy back 06 May 2020
Description of shares purchased ORDINARY SHARES
Currency Malaysian Ringgit (MYR)
Total number of shares purchased (units) 5,000,000
Minimum price paid for each share purchased ($$) 0.200
Maximum price paid for each share purchased ($$) 0.200
Total consideration paid ($$) 1,003,480.00
Number of shares purchased retained in treasury (units) 5,000,000
Number of shares purchased which are proposed to be cancelled (units) 0
Cumulative net outstanding treasury shares as at to-date (units) 290,000,000
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 (%) 5.56000

Why does a property and hotel business arm, i.e., BJLand, invest in BJFood and 7-11?

wantanmi Yup!

Recap...
"Berjaya Group’s proposed restructuring, as announced by founder and substantial shareholder Tan Sri Vincent Tan, is expected to provide more clarity to investors and fund managers on the value of each business within the conglomerate.

Tan said the proposed corporate exercise would see the privatisation of convenience chain store operator 7-Eleven Malaysia Holdings Bhd and property and hotel business arm Berjaya Land Bhd (BLand).

https://themalaysianreserve.com/2018/12/21/berjayas-proposed-restructu...

06/05/2020 11:54 AM

May 05's traded volume is a mere 8 million, BJCorp's buying back of 5 million shares already accounts for more than 60% of traded volume.

With BJCorp recent share buy back of almost 280 million shares at less than 0.20 per share, its equivalent to BJCorp buying Penta's BJLand shares at 0.25 per share, i.e., (0.20*0.38/0.30), instead of the claimed 0.38 per share.

With BJCorp recent share buy back of almost 280 million shares at less than 0.20 per share, its equivalent to BJCorp buying Penta's BJLand shares at 0.25 per share, i.e., (0.20*0.38/0.30), instead of the claimed 0.38 per share.

额 多几家上市公司给孩子发工资？

err... big difference between buying at 0.19 and 0.195?

wantanmi this is what's happening now! BJCorp and BJLand sold Kyoto Four Season for 1.9 billion, giving NO dividend, share price is falling despite shares purchased, and BURSA didn't say a f**king word after so many days!

There's always other options, like no privatization or delisting with BURSA's blessing, no dividend or share price gain even when receiving billions from Jeju or Sg Besi court ruling...

Guess there's nothing impossible with VT, especially with BURSA still silent about shareholding spread in BJLand...

Hmm... I have been right? Seems like there's no buying interests except for VT and related party. Since BJLand stop buying back last Friday, the trading volume has been hanging low... Wonder why's BURSA not announcing its view on BJLand's low liquidity?

err... inventory is not an issue, bigger issue is low demand for jet fuel, gasoline, and diesel until coronavirus pandemic is addressed...

no share buy back for two trading days straight, wonder why? Bursa yet to decide what to do with BJCorp + VT's over 85% stake in BJLand?

Retrenching surplus staff is long overdue...

wantanmi, I am still keeping my shares, I am not selling because I am pissed off or buying because there's going to be a 'big move.' Though, those looking to buy should be cautious, for one VT is not paying dividend despite profits and VT is using the money to buy shares in companies that's has no relation to BJLand current business but only his own interest...

wantanmi, BJLand is buying BJAsset and BJFood as well, why don't you comment on that also? What's the rational of buying non-related industry or subsdiaries of BJCorp while BJLand is already a subsidiary of BJCorp while claiming no money for dividend?

wantanmi, what's 7-11 got to do with BJLand? To my understanding, BJLand is a property developer and investor with a majority stake in BJToto providing cash flow to fund its expansion or offering cushion during bad moves/environment. You may love VT's restructuring garbage, but for me to buy more shares because BJLand is buying a bit of this a bit of that but no money to share with its minority shareholders, I would be an idiot...

truth is, BJLand buying into 7-11 is not a comforting news to BJLand minorities at all, given that 7-11 is already majority owned by BJCorp (or is it VT he himself?) If BJCorp needs to hold more but can't afford to, why isn't BJCorp having BJLand to distribute dividend so BJCorp can buy if BJLand is the entity with free cash. The whole story shows nothing but a majority who isn't willing to share...

Hopefully, BJCorp and BJLand keep buying back and genuine about privatization. Otherwise, can only hope for dividend.

interestingly, while there's no buy back announcement today by BJLand, BJLand is traded mostly at 0.195 with 4.53 million shares volume. It is closed at 0.19 only with a 10,000 shares volume...

Best don't touch, VT has already shown us minorities, if he's not buying, there is no support. If you want to buy, best get his permission. It's already not a retail investor's choice of investment now, sigh!

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3045612

Immediate Announcement on Shares Buy Back

BERJAYA LAND BERHAD


Date of buy back 22 Apr 2020
Description of shares purchased Ordinary Shares
Currency Malaysian Ringgit (MYR)
Total number of shares purchased (units) 1,000,000
Minimum price paid for each share purchased ($$) 0.190
Maximum price paid for each share purchased ($$) 0.190
Total consideration paid ($$) 190,661.20
Number of shares purchased retained in treasury (units) 1,000,000
Number of shares purchased which are proposed to be cancelled (units)
Cumulative net outstanding treasury shares as at to-date (units) 79,837,104
Adjusted issued capital after cancellation
(no. of shares) (units) 5,000,337,104
Total number of shares purchased and/or held as treasury shares against total number of issued shares of the listed issuer (%) 1.59663

With brent crude around 20 for now and coming few months, think the second quarter earning will be the hardest hit... Just not sure how bad it's going to be. This is the only oil producer in Bursa that I'm comfortable with (how nice if petronas lists its oil producing unit), wanna buy but not so what's the right price.

To meet shareholding spreads breach in Nov 2019, BJCorp has entered into direct business transaction to who knows what then to dispose some shares. With the recent 70 million shares added, wonder how many is collected from this who knows what?


https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3007261

Particulars of substantial Securities Holder

Name BERJAYA CORPORATION BERHAD
Address Lot 13-01A, Level 13 (East Wing), Berjaya Times Square, No.1 Jalan Imbi,
Kuala Lumpur
55100Wilayah Persekutuan
Malaysia.
Company No. 554790-X
Nationality/Country of incorporation Malaysia
Descriptions (Class) Ordinary Shares

Details of changes

No Date of change
No of securities
Type of Transaction Nature of Interest
1 29 Nov 2019
30,000,000
Disposed Deemed Interest
Name of registered holder Juara Sejati Sdn Bhd

err... what if VT stop collecting once 10% shareholding spread is reached? It's not like he had not done that before.

291.3 million shares issued to purchase Penta's BJLand shares, and I mistook it to 230 million shares. Sigh, still another 60 million shares to collect.

What if BURSA agree to a 10% shareholding spread and there's no privatization?

It's difficult to guess VT's move, whether to privatize BJLand or not, but one thing is certain though, VT is not a man of honoring his own words. So, best not hoping for a dividend or a privatization deal...

no more faith in VT, dare not buy anymore, sigh!

alas, there's no way to tell how much Hibiscus should be priced. The oil market is bad and there's no telling how long before it makes a turn all because the influencing factor is Covid-19. Think Hibiscus should do well if it can hang on until the crisis is over.

This low oil price could last a few months, I think...

https://www.bloomberg.com/news/articles/2020-04-14/saudis-slashing-oil-prices-to-asia-shows-supply-war-isn-t-over?srnd=premium-asia

...

Aramco cut the May official selling price of its flagship Arab Light crude to Asian customers by $4.20 a barrel from the previous month, exceeding estimates for a reduction of $3.63. That was even after it signed a deal with other producers to cut global output by around 10% to try and support prices.

Strong Competition
About 20 million barrels of April-loading crude remains unsold from West Africa alone, according to traders who asked not to be identified. That’s on top of unsold May-loading supplies from the region that are estimated to be at least triple that of the month before, they said.

Crude from non-Saudi producers in the Middle East is also available with grades including Oman and Upper Zakum being offered on a flexible basis, allowing buyers’ to pick out their preferred arrival periods, three separate traders said.

As well as the supply glut, Aramco and others are grappling with demand that’s continuing to shrivel, particularly in India, which has enforced the world’s biggest lockdown. Iraq said earlier this week that it had trouble marketing its crude amid the supply glut, lower prices and what the country’s oil minister called a “recession” in refining around the world.
...

Tan Huanjian Sigh! You are right, share price keeps on falling despite the purchases, as if those money been thrown into the sea...

SDF2000, thanks...

SDF2000 may I know how you get to know the above information? thanks...

So, instead of weathering uncertain times during this Pandemic, you have suggested a different idea, investing when its cheap... Aren't you aware BJLand is a subsidiary of BJCorp while BJFood and 7-11 are either subsidiary or associate of BJCorp too?

wantanmi, you must be joking, BJCorp is using the money to buy shares in BJFood, BJLand, and BJCorp... BJCorp is understandable, BJLand only if BJCorp is really into privatizing BJLand, BJFood is a big joke, given an earlier news years ago saying BJCorp is looking to sell BJFood. Whats more, BJLand is spending 26 million buying shares in 7-11 and BJFood instead of offering a dividend to allow BJCorp buying those shares...

So generous, a USD 10 million discount...


https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3041718

OTHERS ACQUISITION OF 75% STAKE IN ICELANDAIR HOTELS EHF, HLJOMALINDARREITUR EHF AS WELL AS CERTAIN HOTELS AND REAL ESTATE ASSETS ("ACQUISITION")

BERJAYA LAND BERHAD


Type Announcement
Subject OTHERS

Description ACQUISITION OF 75% STAKE IN ICELANDAIR HOTELS EHF, HLJOMALINDARREITUR EHF AS WELL AS CERTAIN HOTELS AND REAL ESTATE ASSETS ("ACQUISITION")




We refer to our announcements dated 15 July 2019, 24 December 2019 and 28 February 2020 in relation to the Acquisition.



The Purchase Consideration for the Acquisition was USD55.31 million of which a total of USD35.0 million has already been paid to the Seller, leaving a balance of USD20.31 million.



The Board of Directors of Berjaya Land Berhad wishes to announce that the Seller has granted a discount of USD10.0 million due to the temporary adverse economic effects of the COVID-19 outbreak and the amount of the discount has been netted off against the outstanding balance of USD20.31 million. The final net balance due amounting to USD10.31 million was paid on 3 April 2020 and the Acquisition was completed on even date.


This Announcement is dated 3 April 2020.