Eddysurge, BJCorp's core businesses are not doing well lah! (1) Property developments through BJLand in China and South Korea are in limbo (2) Cosway, purchased during high time, is only on a recovery stage, and could really use a MUCH better profit figure to justify its purchase price (3) number forecasting through BJToto has been on a slide at least for a few years.

Hopefully, with (1) Success operation of Vietnam number forecasting business (2) Success selling off China property development (3) South Korea decides to either compensate BJLand or let BJLand continues its development (4) completion of Ritz-Carlton Residence in KL and property development in Japan somewhere between now and June. The above should drive BJCorp's share price to its old high despite Cosway and BJToto businesses are not doing as well as it should be.

jacklintan, there is no fear if there's market correction, but a lot to worry how Rozali will spend the billion... I am very upset Rozali didn't even care to mention share buyback desire. Puncak could easily utilize 200 millions for buyback without concern that its balance sheet will deteriorate.

BJCorp has debt totaling 7 billions while having only 2 billions cash. It will need 1 billion for Vietnam toto project, leaving around 6 billions of debt. Hopefully, BJCorp will be able to dispose China project successfully, raising 1+ billion of cash, with additional 2 billions from selling Ritz-Carlton Residence KL and property development in Japan... These should all put BJCorp in good seat for next 1 to 2 years for profit growth...

Cyphua, vt want to sell his bjland to bjcorp payable with iculs and warrants...

hopefully, another 3-5 cents tomorrow, and everyday until CNY, hahaha...

suntzhe, may I know where do you get the 400 millions profit? Thanks!

Don't think shell can make this much in the last quarter, I m actually looking at between 0.20 - 0.45 per share profit in the last quarter... just hope no bad surprise.

Tt01, bjtoto exposure in Vietnam toto is very little, only 10.2% despite the name...

wonder if we can see 0.42 today?

mr x, to believe that VT sons&daughters capable would be disastrous, given VT's track record...

rMoi, no. At this price, it means all of Puncak non-cash asset has 0 value and its CASH has less than half of its value, as if the money is parked in a no man land under unknown currency... 2.6 bintang bintang?

paperplane, hoping only lah, can't have CNY dream meh? I have no intention to sell anyway, plan to hold till end of year unless seeing some great opportunity to swtich.

I am kind of hoping for 0.62 before CNY, haha...

tt01, congratulations!

hng33, congratulations!

The following makes more sense!

http://www.theedgemarkets.com/my/article/shell-refining-mulls-china-firm-takeover?type=Corporate

KUALA LUMPUR (Jan 20): Loss-making Shell Refining Company (Federation of Malaya) Bhd kept mum over recent reports of a share acquisition by China's state-owned enterprise Shandong Hengyuan Petrochemical Co Ltd.

Sinchew Daily, quoting a Chinese media report, said that Shandong Hengyuan Petrochemical will invest US$130 million (RM565 million) to acquire Shell Refining.

When asked on the matter, Shell Refining Malaysia said the group has nothing to announce at this point of time.

"Shell Refining is a separate independent entity from Shell's other operating units in Malaysia," the company's spokesperson said in a reply to The Edge Financial Daily's inquiry today.

"The board continues to proactively investigate long-term options in the best interest of the company," it said, adding that the group will update its shareholders on the progress.

Shell Refining stressed that it remains focused towards ensuring that its refinery runs safely and reliably, as well as deliver against its business objectives for the year.

The Chinese report, quoting a company official who declined to be named, said that China's central planning agency, the National Development and Reform Commission (NDRC), has approved the acquisition but has yet to sign the agreement with Shell Refining.

According to NDRC, Shell Refining was formed in 1960 and was publicly listed in 1962. Its major shareholder is Shell Overseas Holdings Ltd with a 51% stake.

The Employees Provident Fund is the second-largest shareholder of Shell Refining with a 15.93% stake, followed by Permodalan Nasional Bhd (12.63%) and Kumpulan Wang Persaraan (2.38%).

Last July, Shell Overseas Holdings, a wholly-owned unit of Royal Dutch Shell Plc, was mulling the sale of its 51% stake in Shell Refining, as it weighs the option to exit the downstream business in the country.

Shell Refining chairman Iain John Lo told pressmen at that time, that its major shareholder had informed the Shell Refining board that it is considering options that include a potential sale of its shares or converting the refinery in Port Dickson into an export-import storage terminal.

"In this case, if Royal Dutch Shell sells its entire stake, it will trigger a mandatory general offer to all the other shareholders, which will result in the entry of a new major shareholder. But I want to make this clear that it has not made any decision as it is weighing several options," he said.

Currently, Shell Refining's refinery plant in Port Dickson, Negeri Sembilan, has a capacity to process 156,000 barrels of crude oil per day.

The Port Dickson plant has been bleeding financially for the last four years since the financial year ended Dec 31, 2011 (FY11), as it grappled with poor refining margins.

The stock fell 29 sen or 5.33% to close at RM5.15 today, giving it a market capitalisation of RM1.56 billion.

bangkukayu, short selling means selling without owning the said securities. If no security is borrowed for the shorting, its called naked short and not allowed in Malaysia. To short in Malaysia, its both costly and limited by choice (Bursa has a list of short-able shares, you have to check yourself, I am not keen and don't know much the details.)

posby, that doesn't include my earlier losses in BJCorp amounting to another 0.12 (I sold earlier to buy Puncak, another hazardous investment...) so true cost should be 0.505.

I forgot to mention this cause I have included my losses into the calculation of Puncak cost of purchase...

hng33, be careful, I am trapped now with an average cost of 0.385, market is so bad now, everything is wrong, nothing is right, sigh!

hng33, you have sold yours earlier? Thought you are invested in BJCorp?

Yeah, you have a point... Hope this is the year for bjcorp to fly high

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4980913

AWARD OF INVESTMENT REGISTRATION CERTIFICATE FOR THE NATIONWIDE COMPUTERIZED LOTTERY IN VIETNAM

Money come, money come, money come, wahahaha....

tt01, 6 months - 1 year deposit now is 4% - 4.5%

muttoncurry, err... in the business of holding cash, a lot of cash, waiting to venture into new business?!?

almost all companies are dropping lah, unless they are tightly owned...

虚惊一场！

pre-market share price doesn't seems to reflect the reported news?

another possibility, only buying Shell Malaysia's holding in Shell Refinery. Then, there is no need to seek shareholders' approval

yuefei, before Shell's shareholders approval, it would be Hengyuan seeking China authorities for approval to INITIATE negotiation, not concluding a price.

most likely fake news, if yes, there will be an announcement long ago. Before Hengyuan approach China authority for approval, they will need consent from Shell's shareholders, which are us...

pairsblue, can't say much then if you have already read the quarter report. I have both Petron and Shell, so won't matter so long both are rising...

pairsblue, if you read Petron's latest quarter report, you would not think petron's rise is speculative. Petron has been successfully pared down debt with the addition of petrol stations besides a 80+ thousand barrel refinery capacity. In addition, Petron's debt is in RM and not facing the issue of owning USD debt. Finally, Petron's inventory is less than Shell, well, mainly due to half its inventory in trades and receivables (sold to petrol station, I assumed.)

can't describe how happy I am seeing Petron rising back today :))

pairsblue, petron is nothing different from Shell, except that they also own petrol stations and retail businesses, which bode well at low crude oil price. I sold half of Petron to buy Shell sometime back after yuefei clarify in this board that there is a Petron's 40 days shutdown last quarter. Though, the Petron management seems to be quite bullish with their coming results, don't know why.

pairsblue, surely, Shell should be in the green for year 2015. Though, we shall not be too excited about earnings and know the difference between Shell and Petron when investing, knowing well that Shell benefits most when there is a slow recovery of crude oil price and a recovery of Ringgit Malaysia (Shell has USD debt while Petron has RM debt)

And I tend to disagree with you, now is the best time to stock more crude. In fact, I would be extremely happy if Shell adds more oil tanks to store additional crude oil purchased with the profits made. Shell should be able to keep borrowing in USD, and should choose borrow the same amount of USD until RM recovers to less than 3.80 per USD...

During 2nd quarter, brent crude rose from 55.11 to 63.59, which is why the record profit (you would have to dig the quarter report to learn the inventory 'appreciation'). During the 4th quarter to be reported next month, brent crude dropped from 48.37 to 37.28. With a need to write down almost USD 11 per barrel, Shell profit will be hard to excel. I would be happy to see 60 - 150 millions already. Just hope it will not be in the negative territory, and sincerely hope that crude oil will gradually rise to around 40 by end of March. Shell's profit in 1Q2016 will then match 4Q2015, otherwise, there should further impairment on inventory... There is high likelihood that current share price is reflecting current sharp downturn of crude oil price. Long term going forward should be good though...

some mistake, corrected and shown in above

Petron is slightly different from Shell because half of its inventory is under trade and receivable category, and thus requires less impairment when crude oil price falls. That will also mean, when crude oil price is on a slow upturn, Petron will benefit less than Shell.

aiyo, VT is a philanthropist lah, donating to anyone but us, shareholders...

Alas, China dropped causing the last minute sell down lah...

Hng33, welcome back!

Money88, why not throwing it to 0.99 better, as a gift to Rozali's son being appointed a director?

Biggest joke in the history of bursa, trading at half it's cash value?

babu, I have been holding this stock since mid of 2014 and added most early 2015. If you are referring to buy on margin as life support, well, count me in.

Goodstock, still holding...

fainted, luckily didn't buy any after last purchased at 1.48. How's that possible when net cash per share is at least 2.70 and yet price keeps falling?!?

When no news, petron kept rising, after news, bing bing pong pong down. Yet, when one read the news, hardly anyone can appreciate why it's good time to hold refiners now. Instead, news focus on petron and shell unlikely to deal...

There are only 270 million shares, the largest shareholder already control 72 or 75 %. There will definitely be some holding for long term investment. Assuming 20% freely floating shares, they're only 54 million shares. If someone want to goreng up or down the shares, think not too difficult to some...

yuefei01, WB, I see... anyway, Shell's inventory has two parts, crude oil and finished products, can't remember the percentage, and lazy to dig further. Even if finished products are not falling as much, it's still falling, particularly petrol and diesel. In any case, I believe Shell should still enjoy 60 - 150 millions last quarter (guess I was over bullish to hope for 300 millions when I first switched to Shell.) PetronM has a better financial strength to pay dividend than Shell though. Anyway, shall know in a month's time.

A better valuation should be based on Tapis oil, but its easier to source price movement using Bloomberg which only offer Brent and WTI for free. An additional note though, PetronM and Shell could possibly protect their inventory worth with financial derivatives, but I can't find the details in their quarter reports.

yuefei01, if I were not wrong, Shell's inventory should be relatively flat or slightly cut as suggested by PETRONAS DAGANG in terms of volume. On Sep 30, Brent crude is at 48.37 and On Dec 31, Brent crude is at 37.28, a roughly 23% drop. Shell has an inventory of 947 millions, thus a guesstimate of RM 217 millions of inventory impairment is possible. This is one of the reason I bought PetronM when deciding to invest in refiners cause PetronM's inventory is roughly half of Shell with the rest as trade receivable (I suppose its sold to gas stations already.) Though, after you pointed out that PetronM was also going through a revamp and closed down for 40 days that I decide to switch half my PetronM into Shell...