its difficult not to wonder... VT said one thing, and the opposite can happen. Take for an example, VT mentioned about taking private BJLand and 7-11 end of last year in public only to be refuted by his board of directors. VT mentioned about selling Kyoto Four Season ended up with signing Okinawa Four Season. Penta bought(?) over 7% of BJLand only to convert less than 5% that's later sold(?) to UBS after exchanged into BJCorp shares.

OceanSky, are you referring to the following two news? The second refer to UBS? Why the need for Penta to act on behalf of them? Why can't they deal directly with them? Wonder...

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6043613

Date interest acquired 18 Jan 2019
No of securities 101,584,632
Circumstances by reason of which Securities Holder has interest Direct Business Transactions from Macquarie Bank Limited Hong Kong Branch. Penta Investment Advisers Ltd is adviser to the fund.

Nature of interest Direct Interest

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6051545

No Date of change
No of securities
Type of Transaction Nature of Interest
1 23 Jan 2019
45,415,369
Acquired Direct Interest
Name of registered holder PENTA MASTER FUND LTD
Address of registered holder Craigmuir Chambers, Road Town Tortola, BVI

Err.. how did you know it's UBS shares? You have insider info? Why can't UBS deal directly with bjcorp and needs penta as middleman?

Alas, think rules already broken, whether SC and Bursa approve them or not. Rules is not something like you can massage behind or believing something brewing soon. Minorities are definitely screwed by VT and/or penta+whoever.

So, basically, Penta buy 'quick quick' BJLand from 'someone' only to exchange it at a much higher ratio (0.38/0.30) in exchange for BJCorp shares that it then 'quick quick' sold to someone else. Bursa is allowing it and SC is keeping eyes closed?!? Nobody investigate who's those someone and their relation?


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

Name PENTA INVESTMENT ADVISERS LTD
Address Craigmuir Chambers
Road Town Tortola
BVI
Virgin Islands, British.
Company No. 275975
Nationality/Country of incorporation Virgin Islands, British
Descriptions (Class) Ordinary Shares

Date of cessation 08 Mar 2019
Name & address of registered holder Penta Asia Long/Short Fund Ltd, Craigmuir Chambers, Road Town Tortola, BVI
- Disposed 52,257,385 shares

With the completed Vietnam hotel, Bjland, excluding bjtoto's net debt, is only left with 1.1 billion net debt... unfortunately, market has so little faith in VT that share price will not respond.

先学习同情投资他的小股东吧，现在有些虚伪作假。。。

Theoretically, yes, minority shareholders should consider selling bjcorp shares to buy bjland shares, a no brainer. With VT, though, it can a disaster... my personal opinion

Penta deal is telling me two things, VT is shrewd but VERY low class and dogs (or is it just rabbits, and we Chinese just enjoy throwing everything at dogs?) will keep eating shit, no matter what...

VT owns BURSA? Didn't BURSA realize Penta owns another 166 million shares?!? BURSA or BURSA CLOWN?

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6087465

With reference to Berjaya Land Berhad’s (“BLand”) announcement made on 20 December 2018, the Board of Directors of BLand now wishes to announce that following the completion of the acquisition of 230 million ordinary shares representing 4.61% equity interest in BLand by Juara Sejati Sdn Bhd, a subsidiary of Berjaya Corporation Berhad on 5 March 2019, the public shareholding spread (“Public Spread”) of BLand was reduced accordingly from 19.67% as earlier announced to 15.06%.

In addition, the Board of Directors of BLand wishes to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) has approved BLand’s application for acceptance of a lower Public Spread of 15% in compliance with Paragraph 8.02(1) of the Main Market Listing Requirements of Bursa Securities (“Approved Public Spread”).

Pursuant to the Approved Public Spread, BLand is required to notify Bursa Securities immediately, if in conjunction with the preparation of its semi-annual returns and/or when it becomes aware of the following:-
1.any decrease in issued share capital of BLand; and
2.any decrease in the percentage of Public Spread below 15%.

Based on the above, BLand has complied with the Approved Public Spread.

This Announcement is dated 5 March 2019.
05/03/2019 20:27

While Oriental cash and equivalent is approximately 4.4 billion, it does have borrowing, short- and long-term, totalling 1.9 billion. So, Oriental's net cash and equivalent is only 2.5 billion, still a very sizeable number, that's equivalent to approximately 4.00 per share!

Not likely, if it's Penta selling, it needs to be disclosed...

Lim Ha, I insist on at least an alternative to convert BJLand shares to BJCorp shares at 0.38/0.30 because Penta is receiving that offer. So long our BJLand shares are exchange at premium to BJCorp and we hold on to our converted shares, we will have a chance to recover from our investment in BJLand when BJCorp is trading above 0.30. It's difficult to expect 0.60-0.80 offer price now. I kind of hope that a dividend of 0.10 is declared before an 0.38/0.30 exchange offer, with the special dividend an offer to us holding on while the exchanged shares offer a chance of profitability after BJCorp is able to recoup its Toto business in Vietnam and property investment in Jeju, China, and Sungai Besi..

Completed the disposal of Vietnam hotel with money received. A relatively good news given dispute with China buyer still going on...


http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=92929&name=EA_GA_ATTACHMENTS

unless the offered price is at least 5% higher than 0.38/0.30 x BJCorp share price, BURSA and SC might as well fire all staff to save the cost of listing!

i don't care, VT has to make an offer to BJLand minorities a privatization deal that include an option of 0.38/0.30 exchange for BJCorp shares like what he had offered Penta! AND SOON!

leek, VT has to extend the offer to Penta to the rest of BJLand shareholders, whether we want it or not! And it is Bursa and SC duty to make sure all minorities are treated equally.

Is investing community slapping VT on his face OR is VT slapping investing community? If its VT having the fun, Bursa and SC are offering a helping hand by keeping quiet and not putting any requirement over the BJLand to BJCorp share exchange...

Is investing community slapping VT on his face OR is VT slapping investing community? If its VT having the fun, Bursa and SC are offering a helping hand by keeping quiet and not putting any requirement over the BJLand to BJCorp share exchange...

There's approximately 600 million floating shares, 6 million traded shares is ONLY 1%

leek, VT privatized Berjaya Retail only to list it at a MUCH higher valuation through 7-11. VT privatized BR using his pocket money while its listed when its a subsidiary of BJCorp, meaning BJCorp selling cheap to VT!

leek, you must be dreaming. The most recent deal has suggested the most likely scenario is:

1) a cash 0.38 per share
OR
2) an exchange based on 0.38/0.30 ratio, approximately 1.267 BJCorp shares for each BJLand share

Only if they have insider information or they're idiots?

Bursa allowing the issuance of new shares to buy bjland with no string attached? LOL

I don't want 0.60, I want the 0.38/0.30 ratio to exchange for BJCorp shares!

well, if Penta buying higher than 0.38 from others, only to sell to BJCorp at 0.38 valuation when Penta is sitting on BJLand's board (or, is it BJCorp?!?) There is nothing wrong in this?

think there is a need for SC to investigate Penta's purchase price and source of fund to alleviate BJLand minority shareholders' concern. In addition, the BJLand shares for BJCorp shares offer shall be extended to the rest of BJLand shareholders.

the deal could be illegal because
(1) Penta direct business deal to purchase from others could actually be higher than 0.38 per share

otherwise, why the need for Penta to purchase from others first. The deal is completed within a few weeks. BJCorp could have offered to those buyers. WHY only Penta, and this is not the first time!

(2) BJCorp is ONLY buying 4+% from Penta when BJLand is already suffering from required free floating share issue. If the deal is genuine, BJCorp offer should be extended to purchase all from not just Penta, but other minorities as well

think penta and bjcorp acts are considered illegal...

hmm.... another interesting observation, Penta is holding 396 million shares of BJLand, which is 7.94%. Meanwhile, BJCorp is only offering to "buy" 230 million shares from Penta.

its quite obvious Penta is either acting on behalf of VT or an extremely close ally of VT...

I will complain unless VT comes out to explain! This is absurd, Penta only bought a few days back and its received an 'offer' from BJCorp.

Current offer price is telling us future offer price will be lower. We have to make sure VT MUST offer to take private Bjland now or not allowed to make an offer to Penta. It would be absurd if SC does not make sure an offer be made to ALL

No, bjcorp should offer all shareholders, not just penta. We minorities are not panda...

Bjcorp Bjland
0.280 0.355
0.300 0.380
0.350 0.440
0.400 0.505
0.500 0.630
0.600 0.760

This is why I like this exchange ratio

Actually, I want to exchange my bjland into bjcorp at this ratio... :)

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6054497


Bjcorp offers to buy bjland at 0.38 with bjcorp shares at 0.30, equivalent to 1 bjland exchanges into 1.267 bjcorp. Wonder if it'll be extended to minority shareholders?

my concern is Penta was "lucky" to get out at 0.70 and "keen to further invest in BJLand despite falling prices without support" currently. Has Penta "forced" VT to absorb BJLand then and is Penta "tipped" to buy BJLand now. Who's the ultimate beneficiary of Penta? Any relation to VT? I suppose these are not difficult to find out given what Bursa and SC are empowered with...

And its Penta buying this second round...

Fainted, its actually Penta selling to BJCorp for 0.70 per share the last round, shares + ICULS + cash deal. Is Penta related to VT and if SC is aware of this at all?!?

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5115889

No of securities disposed 299,363,000
Price Transacted ($$) 0.700
Circumstances by reason of which Securities Holder has interest Beneficial interest
- Cessation as a substantial shareholder following the completion of the disposal of shares pursuant to a
conditional Share Sale Agreement dated 2.12.2015 entered into between Penta Investment Advisers Ltd,
Juara Sejati Sdn Bhd and Berjaya Corporation Berhad

Nature of interest Direct interest


Date of notice 02 Jun 2016

quarterly report will be announced close to the end of March

Okinawa four season is at least a 3 years project and BJLand is receiving almost 100 million dividend from BJToto every year. BJLand debt is mainly a result of halted, failed or awaiting court order projects in China, Jeju Island, and Sungai Besi. With the proceed from Vietnam and Kyto sale, BJLand will be basically debt free even with a 0.10 special dividend. Question is, does VT mean what he said? That's a bigger issue, investors have little trust in him.

an interesting event, Classic Union buying 15% of 7-11.

If its VT and related companies disposing those shares, there would be an announcement. Given size of acquisition, it's strange there's no news about seller. The stake is more than 5%.

Not sure if those shares were bought from VT and related companies. If not, liquidity is further squeezed. With less than 900 million shares left to grab if VT's 80+% is considered out of touch, that's not even RM 270 million currently.

I'm clueless, kind of hoping some of you might have something to share...

Or, privatization deal to be announced soon?

Wonder why? BJCorp not looking to privatize BJLand after this deal?


http://www.bursamalaysia.com/market/listed-companies/company-announcements/6043613


Name PENTA INVESTMENT ADVISERS LTD
Nationality/Country of incorporation Virgin Islands, British
Descriptions (Class) Ordinary Shares

Name & address of registered holder (1) Penta Master Fund Ltd, Craigmuir Chambers, Road Town Tortola, BVI - acquired 84,584,632 shares
(2) Penta Asia Long/Short Fund Ltd, Craigmuir Chambers, Road Town Tortola, BVI - acquired 17,000,000 shares

Date interest acquired & no of securities acquired

Date interest acquired 18 Jan 2019
No of securities 101,584,632
Circumstances by reason of which Securities Holder has interest Direct Business Transactions from Macquarie Bank Limited Hong Kong Branch. Penta Investment Advisers Ltd is adviser to the fund.


Total no of securities after change

Direct (units)
350,770,620
Direct (%)
7.03

Alas, bjland needs money from asset disposal, kyoto four seasons and continental Vietnam, first?!?

if VT to privatize BJLand after floating hotels in Singapore, the cost will be much higher, given that the hotels value are reflected in the stock market. My best guess would still be privatizing BJLand before listing in Singapore. If there's anything to worry, it would be VT has no intention to privatize BJLand or listing in Singapore. These 'views' are anything but to prop up share price in the short term.

VT needs to privatize BJLand before he can list hotels in Singapore, at least that's my understanding