http://www.bursamalaysia.com/market/listed-companies/company-announcements/5088341

March 2016 March 2015
1 Revenue 1,869,951 2,480,823

2 Profit/(loss) before tax 101,972 84,231

3 Profit/(loss) for the period 101,650 84,231

5 Basic earnings/(loss) per share (Subunit) 33.88 28.08

voon, may be to you, RM 1 cash is worth RM 0.20 only, but to me, RM 1 is worth RM 1...

no face say anymore... right with valuation, wrong with character assessment.

don't think has to do with investor selling due to 'misty' direction. Like it or not, Puncak has a net cash per share (after deducting all bank debt) of 2.72 and other non-cash net asset (after deducting all non-bank liabilities) of 1.03. With a net cash of 1230 million, Puncak is now traded with a market cap of less than 450 millions!

If I were to hypothesize, its most likely dumping among funds to force down price so they can collect cheaply. As for how, frankly, I have no idea, given my lack of knowledge of the 'real' financial industry...

http://www.theedgemarkets.com/my/article/berjaya-related-stocks-see-substantial-stake-traded-market?type=Corporate

KUALA LUMPUR (April 29): Berjaya Corp Bhd (BCorp) saw nearly 3.6% of its shares traded off market today, for a total of RM61.29 million.

According to Bloomberg data, the shares moved in four blocks, ranging from 353,600 shares to 160 million per block, for a value of between RM134,370 and RM60.8 million.

The transaction price of 37.5 sen and 38 sen apiece, represents a discount of one sen or 0.5 sen to its closing price of 38.5 sen.

Meanwhile, BCorp's 16.38%-owned Berjaya Assets Bhd (BAssets) also saw 55 million shares or a nearly 5% stake, crossed off market today.

Bloomberg data showed the securities moved in two blocks — 22.2 million and 32.8 million — at 80 sen per share.

The total transacted value amounted to RM44 million.

As press time, it was unknown as to who the parties involved in the trades were.

According to Bloomberg, BCorp's largest shareholder is its founder Tan Sri Vincent Tan Chee Yioun, with a shareholding of 1.03 billion shares or 23.05%; followed by Hotel Resort Enterprise's 626.32 million shares or 13.95%.

In BAssets, Tan controls 511.45 million or a 45.95% stake, while BCorp holds 88.55 million or 7.96%. Puteri Access Sdn Bhd is the third largest shareholder, with 6.23% stake.

BCorp’s share price closed up one sen or 2.67% at 38.5 sen today, with 8.3 million shares traded, giving it a market capitalisation of RM1.73 billion.

BAssets closed unchanged at 80 sen, with 20,000 shares exchanging hands, giving it a market value of RM890.43 million.

lousy_result, you read lousy report with lousy eyes... Puncak's huge loss in last quarter is mainly due to impairment and hasn't had much impact on its cash flow. Read the cash flow statement before commenting, of course, only if you know

Interestingly, the article failed to point out that Puncak had a market cap of less than 600 million but in a net CASH position of 1200 million. Err... another 600 million in land/properties that's debt free?

Based on most recent quarter report, bjcorp has net loan of approximately 5.2 billions. The China property project disposal, completion of menara bangkok bank/ritz Carlton residence, recent disposal of listed subsidies/associated companies, and gain in RM against most other currencies, it's net debt should be reduced to below 2 billion. Should be good to quarter earnings, given that the interest expenses is so high for bjcorp.

very simple, to earn shareholders' trust, Rozali only needs to begin share buy back so long share price is below 2.70! Question is, will he?

hopeless, wonder if I can throw rotten eggs on those sitting on the BOD during AGM?

Has anyone asked about cash flow from menara bangkok bank/ritz Carlton?

Quite frankly, given share price, I would rather an cash out option at around RM 2.70 clause made available to us small shareholders when a buyout of TRIPLC needs shareholders' approval!

given that Rozali's the boss of both companies, if I were not wrong, he can't vote to agree or disagree on the acquisition. Meanwhile, both TRIPLC and Puncak are trading below their NTA. If the purpose is to merge both companies so TRIPLC can tap on Puncak's cash to get government projects, it would not be so bad (since Rozali's ownership in TRIPLC is only 27%)

In addition, TRIPLC is so much smaller than Puncak with a market cap that's less than 100 millions and NA of less than 160 millions

LD is RM 0.20 higher than BJCorp. Given BJCorp dividend is RM 0.01 and LD's interests RM 0.05, that difference is equivalent to 5 years of dividend/interests difference already. Guess buying LD or BJCorp has not much difference. I would personally prefer BJCorp than LD. If the difference is less than RM 0.10, then its another story...

so long crude oil price didn't rise like helicopters and above USD 60, both Petron and Shell shall do exceptionally well. The only issue left is, will Shell outperforms Petron due to its bigger refinery size or Petron outperforms Shell due to its better balance sheet and owning both refinery and retails.

hng33 pointing out Petron's investment cost shall be much less than Shell given its upgrade has pretty much completed... On the other hand, Shell's price is so much lower compared to Shell. Sigh! Going to be hard choice, but guess have another 10-20 days to think before any decision.

hng33,

thanks! didn't realize that Petron had already completed its EURO 4 transition, thought Petron and Shell are about the same pace. Personally, like Petron for its balance sheet too, but like Shell's heavily undervalued share price contributed by China's purchase and EPF's selling.
Puncak's share price has been slow to move, wonder if should sell those bought at 1.14 to buy back either Petron or Shell.

hng33, do you think petron or shell a better stock to keep for refinery?

err... eddysurge, I bought and intend to hold for 2 years max until Vietnam toto seeing good growth. Though, if there will be a rally before meeting, don't mind buying slightly more than I can shoulder for short term gain :) read somewhere here that there's usually a small rally before meeting, that's why I asked

if funds buy, then its symmetrical triangle, if no funds buying then its resistance lah... aiyo, to me, technical are after fact!

wakong, april's one is EGM or (GM?) not AGM, purpose is to seek approval to buy VT's BJLand stake...

BJCorp proposed to buy BJLand @ 0.70 per share, totaling RM 419.11 millions and 598.73 million shares. Given that BJLand was mostly trading between 0.68 and 0.72, I suppose the purchase price is 'fair', except that BJLand has nothing great to talk about except its BJToto ownership. Its projects in South Korea's Jeju Island China's Hebei are in terrible shape.

BJCorp proposed to purchase BJLand using (1) CASH RM 65.86 millions (2) RM 353.25 millions of 10 years 2% interests ICULS (these ICULS will eventually turn into 353.25 million BJCorp shares) should they not bought back by BJCorp. (3) 706.5 million FREE warrants that can be converted into BJCorp shares with RM 1 per share.

The ICULS will increase interest cost of RM 7.065 millions per year to BJCorp. Meanwhile, 706.5 million FREE warrants basically has 0 value unless BJCorp share price crosses RM 1.

If one believe that Vietnam toto to value-add significantly to BJCorp and will result in BJCorp share price to worth more than RM 1, then the deal is not that great, given that the deal assumes BJCorp is worth RM 1 per share while BJLand RM 0.70 per share. However, if one believe the sale of China project and settlement of Jeju project will drive BJLand in profitable position in the near future, the exchange shall offer value enhancement to BJCorp shareholders.

Personally, the deal is at best neutral and only because VT is trying to consolidate his ownership and nothing to do with us (neither does he care...)

* Just my personal opinion.

VT seeking approval to exchange his BJLand shares with BJCorp shares, wonder if he will goreng the share before or after EGM to get support?


http://www.bursamalaysia.com/market/listed-companies/company-announcements/5045309

Type of Meeting Extraordinary General Meeting
Indicator Notice of Meeting
Description Notice of Extraordinary General Meeting.

Date of Meeting 19 Apr 2016
Time 10:00 AM
Venue Perdana Ballroom, Bukit Jalil Golf & Country Resort, Jalan Jalil Perkasa 3, Bukit Jalil, 57000 Kuala Lumpur

Date of General Meeting Record of Depositors 12 Apr 2016

Hopefully, something good coming soon...

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5045385

The Board of Directors of the Company wishes to inform the Exchange that the Company had on 31 March 2016, acquired a dormant company, Anugerah Prasarana Sdn Bhd (Company No. 1144303-P) (“Anugerah Prasarana”), comprising two (2) ordinary shares of RM1.00 each, representing 100% of the total issued and paid up share capital of Anugerah Prasarana at a total cash consideration of Ringgit Malaysia Two (RM2.00) only (the “Acquisition”).

Up-down, my apology, you were right. I was comparing the same quarter result, and the right approach should actually to compare this quarter to the previous one.

I am actually a bit disappointed with the numbers... The cash in hand not increases by much and debt level actually increased... Wonder when will the proceed from menara Bangkok bank will come in? But agree with yjinvy, mainly buy for the Vietnam lottery business, followed by completion of Menara Bangkok Bank/Ritz-Carlton Residences, Japan property, and disposal of China business, then solution for South Korea property project.

quarter report most likely out only on the 31st... BJCorp should be expected to book gain on disposal of Magni-Tech despite dismay performances from subsidiaries. One potential upshot would be the completion/handover/book gain on revaluation of Menara Bangkok Bank. Ritz-Carlton Residences has yet to be completed. Wonder if BJCorp can book gain on Menara Bangkok Bank when the next building is yet to be completed?

privatization at 1.80?!? Puncak has a net cash of 2.73 besides lands and building, not to mention its other businesses in O&G, water, and construction!

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5039681

BJCorp disposed another 20 million shares of BJAuto

Disposed 23 Mar 2016 20,000,000

roger, it will fly if there's sufficient demand for Puncak... And Puncak's net cash is at least 2.70 per share. Think Sin Chew is quoting from Edge who reported a net cash per share of 2.57. The shares outstanding used in the computation though, is wrong.

I still think somewhere between .62 and 1.00 is highly possible before end of this year...

speakup, I did, I bought some POS after selling some Puncak. Best return ever for 2 days, bought in at 2.25 and now 3.08!

eddysurge, primarily due to (1) menara Bangkok bank/Ritz-Carlton residences to be completed soon (before July 2016, I hope, am in KL right now, like the building) (2) japan property project to be completed soon (in June 2016, was told, not sure if according to schedule) (3) disposal of China property project (hopefully soon) (4) disposal of listed companies' shares, amounting to more than 400 millions right now (5) most importantly, coming Vietnam toto. Not sure which will drive BJCorp higher, but I would assume most bad news about BJCorp has already been factored in at current share price while potential good news are not.

bought some more at .415, hope its a right decision :)

babu, so long Puncak shares are traded at heavy discount to net cash position and Rozali not doing anything, its already not fair to small shareholders! What nothing to do with him?!?

just hope babu is not someone's son, like some girl pitying her father's speeches in public. I hope, cause if its true, babu is not much better, rather than fixing the angst of shareholders, he's just made some nonsense defense!

babu, Rozali's inaction is the best justification for potential wrongdoing, despite lack of evidence! You see, you don't need 4 observers to justify that a girl has been raped!

fzank, sigh! I sold only half of what I bought at 1.03, should have had more courage like you and hng33...

the big joke with BJCorp:

BJToto is a RM 4.567 billions company and a subsidiary BJLand, which is a RM 3.5 billions company, of which is a subsidiary to BJCorp, which is a RM 1.893 billions company.

Manage to sell half of what I bought at 1.03 today.

Misleading by purposely omitting the short term investment of close to 1 billion, wordless...

after seeing hng33 selling yesterday, thought of selling some today... Then, same problem again, yet to sell, sigh! Wonder when can I have the courage of hng33, to learn to realize profits. Will see how market goes this evening to decide now.

fzank, congratulations!

just got free, think will sell some tomorrow, at least booking some small gain, given that hng33 has sold his... hope I have the guts to sell this time.

BJCorp selling another 3 million shares of Magni-Tech between 4.39 - 4.40, raising another RM 13 million.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5030041

Disposed 10 Mar 2016 916,900

Disposed 10 Mar 2016 2,083,100

Together with Jan 11, a total of around 67 millions!

Forgot to notice this too, on Jan 11, BJCorp disposed another 12 million shares of Magni between 4.45 - 4.55, raising another 54 millions.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4973253

Disposed 11 Jan 2016 7,523,400

Disposed 11 Jan 2016 4,583,100

wonder if I should sell when hng33 said selling this time? I have some bought at 1.03...

moving so slow, sigh!

supersaiyan, bjcorp's subsidiary n associate companies have to report change in substantial shareholders' ownership, but bjcorp does not have to make such reports...

BJCorp sold more BJAuto

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5028533

Disposed 09 Mar 2016
25,250,000

Disposed 09 Mar 2016
24,000,000

Another RM 100 millions cash raised!

Ong Lie Chin, don't know much about genp wa. You will have to check genp's announcement.

kaikai, I am upset about Puncak's performance and corresponding no-response from Puncak BOD, MSWG, Bursa, and SC. And bear in mind, MSWG had just raised issue on Shell while the low selling price should affect small investors in London rather Malaysian investors. Puncak is trading at less than 40% of its net cash and you believe nothing is wrong and there are institutional investors keeping a close eye on Puncak? If yes, it would be to screw small holders like us!

lcwin, well described a possible scenario that our MSWG, Bursa and SC seems to keep and eye closed