sailang, well, I am not going to sell whenever my trust of the man in charge has dropped to zero. I will just trade and invest carefully, learning from past mistakes and avoid making the same again.

When VT showed up during last AGM, I gave him a 6 out of 10 trustworthiness level. After his conference call last Dec about his 'big plan' NOT confirmed by his board, his trustworthiness dropped to 4. After Penta deal without a similar offer to minorities, trustworthiness dropped to 2. With a okinawa four season project before Kyoto four season disposal, to me, he just can't be trusted, AT ALL...

I'm wondering if its Sslee's emails to Bursa and SC that have stopped the bullying on BJLand minority shareholders?

whether BJCorp can privatize BJLand with 0.38:0.30 exchange ratio is one thing. It's another thing if the offer is made ONLY to certain party but not others when the shareholding spread is so low!

SC can, if they want to, make MGO compulsory with a minimum 0.38:0.30 exchange ratio after reviewing the Penta deal. Unfortunately though, I have reservation over SC independence.

Guess that's how Malaysia equity market screw up minorities?

Sslee, thanks for your efforts. Despite my poor encounter with SC earlier, I still think it's the ONLY who's more willing to exercise what's right compared to other agencies. Genuine hope you would make a difference this time. Personally, I would fight along anyone seeking bjcorp, within a stipulated time frame (preferably 6 months), to make an offer that would include an option of exchanging bjland shares into bjcorp shares at 0.38:0.30 ratio as was offered to penta earlier.

Sslee, you should write to SC

Also means'a lot' queue to sell at .27

I have put in a lot of effort seeking minorities' rights on Puncak Niaga a few years back. It's a great experience with a lot of wasted time resulting in ZERO benefit for minorities. Any effort by any of you, genuinely hope that you would achieve something.

If Kyoto Four Season disposal is what VT claimed and announced, BJCorp and BJLand share price will see significant gain. VT had made too many garbage, there simply isn't any trust in him thus far... my personal view

If Kyoto Four Season disposal is what VT claimed and announced, BJCorp share price will see significant gain. VT had made too many garbage, there simply isn't any trust in him thus far... my personal view

VT is buying, probably that's why Bursa and SC keeping an eye closed? Frankly, I am not from the financial industry with 0 contact and can only guess through the announcements...

there is a possibility penta is the one selling in the market and VT is abetting this selling through BJCorp buying penta's stake in BJLand to below 5% while Bursa and SC failed (or silently agreeing to this sinful act) to defend retail investors interest. I have mentioned about this possibility earlier and suggested all not to buy further until there's a clarity through BJLand's announcement.

Of course, its only my guess. Meanwhile, there is no doubt at price below 0.22 or 0.215, BJLand is dirt cheap if whatever VT said is true, i.e., selling Kyoto Four Season and privatizing BJLand. Unfortunately, there is no clarity and VT is already classified under 0 trustworthiness (at least to me).

Unless you know when VT will announce the Kyoto four season deal or any other major deals that can boost share prices, it would be stupid to sell now. There's no catalyst to buy or sell more now, unless you are trading short term...

gangnum, sure hope BJLand and BJCorp share price can shoot up, cause I am invested in both. Though, with no news on Kyto Four Season, the 'an additional' asset in Vietnam awaiting disposal with no details provided, clueless China project disposal claim, its hard for share price to reflect. It can be days, weeks, months, or years. VT just broke the trust throwing shit Dec last year. I was still hopeful around Feb and just gotten more and more suspicious about his true agenda... I am still holding believing the disposals can be meaningful but genuinely doubt it will be completed 'soon'...

Just trying to provide a contrarian view given your price is right or shortinvestor's time is running short.

with VT 'announcing' Kyoto Four Season sale that went silent and ended up with Okinawa Four Season project, its difficult to believe there's any serious investor interested in this company anymore...

Actually, the condition is vaguely written if I were not wrong. An 'or' condition is the trading volume. If the trading volume is satisfactory when the spread is low, bursa may accept the listing status...

Sure hope you are right, just dare not add more shares myself seeing no news correction...

There's a possibility one fund want to sell. Penta, together with bjcorp, is facilitating that service. Why else not converting all, only enough not to appear as shareholders holding more than 5%? Converting all require bjcorp to make offer to the rest of bjland shareholders. Not converting, every time penta is selling requires announcement... again, my guess after seeing the correction... 事后诸葛亮

My guess, there's a possibility penta is selling...

I traced back to Jan 19. Percentage-wise, VT's ownership was 48% despite number of shares is 100 million less. With VT accumulating more lately, his ownership in percentage is roughly the same. Penta's conversion added some 200 million shares in the market.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6067545

Nature of interest Direct Interest
Direct (units) 1,125,499,929
Direct (%) 23.094
Indirect/deemed interest (units) 1,230,123,218
Indirect/deemed interest (%) 25.241
Total no of securities after change 2,355,623,147
Date of notice 19 Feb 2019
Date notice received by Listed Issuer 19 Feb 2019




Remarks :
Deemed Interest No. of Shares
------------------------------ --------------------------
Ascot Sports Sdn Bhd 154,500
Auto Tulin Sdn Bhd 1,604,271
B & B Enterprise Sdn Bhd 49,387,147
HQZ Credit Sdn Bhd 22,752,069
Lengkap Bahagia Sdn Bhd 1,372
Nautilus Corporation Sdn Bhd 139,874
Hotel Resort Enterprise Sdn Bhd 644,952,622
Nostalgia Kiara Sdn Bhd 14,495,189
Desiran Unggul Sdn Bhd 979,713
Berjaya Assets Berhad 1,502,152
Berjaya Bright Sdn Bhd 215,500,000
Berjaya Times Square Sdn Bhd 23,884,464
Premier Merchandise Sdn Bhd 100,218,845
Superior Structure Sdn Bhd 36,153,000
Gemtech (M) Sdn Bhd 39,850,000
Berjaya Media Berhad 1,030,000
Berjaya Infrastructure Sdn Bhd 18,025,000
Berjaya Sompo Insurance Berhad 20,703,000
Lim Kim Hai Sales & Services Sdn Bhd 3,090,000
MOL.Com Sdn Bhd 11,000,000
U Telemedia Sdn Bhd 24,700,000
----------------------
1,230,123,218

BJCorp: VT's holding

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6117941

Direct (units) 1,125,499,929
Direct (%) 21.791
Indirect/deemed interest (units) 1,333,543,664
Indirect/deemed interest (%) 25.819
Date of notice 04/04/2019
Date notice received by Listed Issuer 05/04/2019




Remarks :
A) Total deemed interest held pursuant to Section 8 of the Companies Act 2016:-

Deemed Interest No. of Shares
------------------------------ --------------------------
Ascot Sports Sdn Bhd 154,500
Auto Tulin Sdn Bhd 1,604,271
B & B Enterprise Sdn Bhd 49,387,147
HQZ Credit Sdn Bhd 22,752,069
Lengkap Bahagia Sdn Bhd 1,372
Nautilus Corporation Sdn Bhd 139,874
Hotel Resort Enterprise Sdn Bhd 644,952,622
Nostalgia Kiara Sdn Bhd 14,495,189
Desiran Unggul Sdn Bhd 979,713
Berjaya Assets Berhad 1,502,152
Berjaya Bright Sdn Bhd 228,000,000
Berjaya Times Square Sdn Bhd 106,200,000
Premier Merchandise Sdn Bhd 100,218,845
Superior Structure Sdn Bhd 36,153,000
Gemtech (M) Sdn Bhd 39,850,000
Berjaya Media Berhad 1,030,000
Berjaya Infrastructure Sdn Bhd 18,025,000
Berjaya Sompo Insurance Berhad 20,703,000
Lim Kim Hai Sales & Services Sdn Bhd 3,090,000
MOL.Com Sdn Bhd 11,000,000
U Telemedia Sdn Bhd 24,700,000
----------------------
1,324,938,754
B) Indirect interest held through children 8,604,910
------------------------
1,333,543,664

eddysurge, with bursa and sc nodding head, privatization can be months or years...

eddysurge, not sure what you are referring to. Earlier, before the purchase from Penta, BJCorp has disposed some BJLand shares. My guess, it is due to VT's total holding of BJLand exceeded 80% threshold. When BJCorp purchased from Penta, I thought an offer will be made right after then. Unfortunately, it is not, which is part of the reason why I'm so pissed off. It is not a matter of an offer price is able to satisfy the rest of minorities, its a matter of fairness.

1290---- said BJLand Nine-month net profit is 137 million. It is actually incorrect. BJLand doesn't own 100% of BJToto, thus, after taking out others' interest in BJToto, BJLand net profit for 9 months is only a miserable 1 million. The result is suggesting a poor other BJLand divisions mainly consisted of hotels, property development and investment.

0.40 dividend per year for 2 years straight. Hope this will be the minimum dividend going forward, hurray!

leek,

1. BURSA and SC could have required BJCorp making the offer to the rest of shareholders given spread in the first place. Allowing BJCorp to delay the process benefits those manipulating the share price, if any, but not the minorities.

2. There is no telling Penta is collecting BJLand shares in the open market. If yes, it would be a shame. If no, those buying for quick bucks awaiting BJCorp to make a mandatory offer will only suffer.

The latest event shows two things. 1. BURSA and SC have not acted fairly. 2. VT is still the old VT.

You are welcome

While BJCorp owns only about 77.7% of BJLand, VT actually owns about 84.6% of BJLand. If Penta ownership is included, VT already controls about 88% of BJLand. With less than 600 million shares that's actually floating, its difficult to believe Bursa and SC have acted in the best interests of minorities when approving the transaction without informing minorities VT's next move.

Penta ownership in BJLand

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6087373

Name & address of registered holder (1) PCM Industrial LP, Craigmuir Chambers, Road Town Tortola, BVI - Disposed 40,000,000
(2) Penta Master Fund Ltd, Craigmuir Chambers, Road Town Tortola, BVI - Disposed 130,000,000 shares
(3) Penta Asia Long/Short Fund Ltd, Craigmuir Chambers, Road Town Tortola, BVI - Disposed 60,000,000 shares


No of securities disposed 230,000,000
Circumstances by reason of which a person ceases to be a substantial shareholder Direct Business Transactions to UBS Securities Malaysia Sdn Bhd. Penta Investment Advisers Ltd is adviser to the fund.

Nature of interest Direct Interest


Date of notice 05 Mar 2019
Date notice received by Listed Issuer 05 Mar 2019




Remarks :
Direct Interest No. of Shares
------------------- ------------------
(1) PCM Industrial LP 165,734,696
(2) Penta Master Fund Ltd 1
(3) Penta Asia Long/Short Fund Ltd 451,292

-----------------
166,185,989
==========

VT ownership in BJLand

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6087369

Direct (units) 69,150,400
Direct (%) 1.386
Indirect/deemed interest (units) 4,156,086,872
Indirect/deemed interest (%) 83.298
Total no of securities after change 4,225,237,272

Remarks :
Indirect Shareholdings No. of shares
------------------------------ --------------------
1) Berjaya Corporation Berhad 191,564,000
2) Teras Mewah Sdn Bhd 1,214,144,984
3) Juara Sejati Sdn Bhd 1,471,691,000
4) Bizurai Bijak (M) Sdn Bhd 659,100,000
5) Prime Credit Leasing Berhad 14,528,532
6) Inter-Pacific Capital Sdn Bhd 81,000,000
7) Inter-Pacific Securities Sdn Bhd 100,000,000
8) Rantau Embun Sdn Bhd 40,000,000
9) Berjaya Group Berhad 64,286,400
10) Berjaya Sompo Insurance Berhad 42,124,080
11) Desiran Unggul Sdn Bhd 224,000
12) Hotel Resort Enterprise Sdn Bhd 56,600,000
13) Berjaya Times Square Sdn Bhd 55,881,000
14) Berjaya Bright Sdn Bhd 88,083,000
(Formerly known as Sublime Cartel Sdn Bhd)
15) B & B Enterprise Sdn Bhd 768,700
16) Berjaya VTCY Sdn Bhd 59,891,176
17) MOL.com Sdn Bhd 2,200,000
18) Berjaya Retail Sdn Bhd 14,000,000
----------------------
4,156,086,872

BJCorp ownership in BJLand

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6087357

Direct (units) 191,564,000
Direct (%) 3.839
Indirect/deemed interest (units) 3,686,874,996
Indirect/deemed interest (%) 73.894
Total no of securities after change 3,878,438,996


Remarks :
Indirect Shareholdings No. of shares
------------------------------ --------------------
1) Berjaya Group Berhad 64,286,400
2) Teras Mewah Sdn Bhd 1,214,144,984
3) Juara Sejati Sdn Bhd 1,471,691,000
4) Bizurai Bijak (M) Sdn Bhd 659,100,000
5) Prime Credit Leasing Berhad 14,528,532
6) Inter-Pacific Capital Sdn Bhd 81,000,000
7) Inter-Pacific Securities Sdn Bhd 100,000,000
8) Rantau Embun Sdn Bhd 40,000,000
9) Berjaya Sompo Insurance Berhad 42,124,080
---------------------
3,686,874,996
=============

Bursa and SC have kept quite allowing the BJLand conversion of late, there's no more issue with shareholding spread concern right now. It will be only if VT decide to buy more...

all could also possibly due to liar-mentality and crappy management drives away fund managers, resulting in VT having to buy himself or through his associated companies...

It seems to me there's no fund interested to buy VT'shares for some reason right now. So, only option left is to have he himself or related companies buying...

VT can brag about future potential. However, if there's no earning reports that reflect these or dividends after asset disposal, what good is his words? Guess its equivalent to nothing but garbage.

Thanks for the trust...

Annetan, there are many reasons why Bjcorp raising interests in bjland. It's not a problem if the offer is extended to other minorities. It's a problem when an offer is only doled out to a particular party who had just acquired those stakes days before. What's worse, a deal that pushed public shareholding spread to 85% while bursa and SC are silent with no public announcement on the why! Even worse, the party involved sold his stakes to another party his 'converted' shares without any SC and Bursa investigation!!!

Oceansky, once below 5% ownership, there's no need to disclose sales or purchases, unless crossing over 5% again...

oceansky, if I were not wrong, BJLand owns a bank in Vietnam through JV...

I earlier thought the Vietnamese subsidiary to be sold refers to the hotel just sold recently. Having read this article, I think it could be the bank they're going to let go...

Err... probably because VT initiated a press conference telling Malaysians what he wants but none of his board members aware? Probably he said wanting to sell Kyoto four season but Okinawa four season is the one actually signed? Probably Penta can get special treatment to have his recently bought bjland exchanged into bjcorp at 0.38/0.30 that none of his other minorities is offered? Probably because penta sold or give his bjcorp shares to UBS right after his bjland shares exchanged into bjcorp shares?

LOL, who knows, this is boleh land. The most important thing is bursa already slapped us minorities hard not requiring an offer to the rest of us... and we should not forget that as a lesson investing in the future in bursa.

Gangnam, penta has over 7%, but sold to bjcorp only 4+% and yet Bursa approved it. If all sold to bjcorp, bursa will still accept 13% shareholding spread? I guess yes, given the 15% is a big joke. My broker already enlist bjland as non-marginable stock when spread is 20%,while bursa ok 15%?!? That's a big joke...

Gangnam, it's never a worry to majority shareholders piloting the listed companies if the share price is 5-10% of it's NA. Only when its cash flow is in trouble while debt is high is a major concern...

Profit announced has nothing to do with dividend. Dividend only affects cash flow

It's difficult to expect bjland showing profit when it's biggest contributor is bjtoto and yet it's having an additional 1.6 billion debt. Until bjland collects billion from asset disposal or through court ruling, there's nothing much to see. Given completion of Vietnam hotel disposal, next quarter shall be better.

I thought bjland will trade between 0.35-.42 to reflect the 0.37/.3 exchange offer. With bjland now at 0.285, real worry VT not offering much to us minorities... almost want to email the management, but too upset to write one, sigh!

claiming USD 350 million, that's approximately RM1.4 billion? I thought BJLand intends to collect a few billion RM in relation to the Jeju case?