albukhary and all,

from my understanding, the fixed asset should be reduced by around RM50 mils, reflecting its cost of sold portion of BJAuto. I doubt the gain is previously included in the unrealized profit column, given that its held for long term and should be recorded based on cost of investment less any impairment.

A sale proceed of RM 230 mils should then reflect an increase in profit in 1st quarter 2015 through 'financial gains on sold shares' amounting RM 180 mils. Otherwise, how could the book be balanced.

Unfortunately, I am not an accountant to truly understand exactly how BJCorp keeps its account, sigh!

cyborg, I do realize that the sale of BJAuto shares is recognized in the cash flow from investing activities. What I don't understand is why there is no recognition in the income statement given the sale?!?

so boring, nothing to do but waiting for circular on water asset disposal

If I were not wrong, the quarter report didn't recognize the financial gain from the disposal of BJAuto shares amounting to RM 180 mil. It's somehow, to my belief, included in the NA calculation, which increases 6 cents per share compared to 4th quarter FY 2014.

Any expert view on this?!?

Speechless, all listed cos must make all announcements, including financial reports first on bursamalaysia.com

Eurolious, read from bursamalaysia.com, it provides all info u need

hng33, I have some reservation on this. If Splash deal is improved, there is possibility that Puncak and others asking for better deals, given revised deal for Splash, causing the whole process be lengthened. Less risk unless the juiced up Splash deal is offered by the federal

hng33, did you delete all your previous postings?

why all previous posts from hng33 deleted?

Thanks for the update, hng33

hmm... just notice something about BJCorp

Month Lowest traded price Highest traded price
June 0.455 0.55
July 0.565 0.52
August 0.475 0.52

Any technical analyst offering ideas?

also, a major portion of its 6 over billion debt is due to the borrowing of BJLand, its subsidiary

kk123, the 100 over millions you mentioned is caused by write down on impairment, you should read quarter report in more details

If I were not wrong, the main reason BJCorp is falling after 2012 because it has purchased Cosway at a high premium and the company is not performing as anticipated after privatization.

I see at least 3 possibilities that BJCorp share price can do well (1) a sale of non-core assets that would drive up profits through reduced borrowing cost (2) Cosway begins to perform or its other subsidiaries are doing much better than previous years to cover for Cosway's lackluster performance (3) an extremely cash flow generating business venture, err..., like a casino

Fainted, thought Khalid said to offer insight into the water deal today? Now, only after eg of respective companies? Definitely fishy ... good for us, bad for selangorians

Interesting, why price drops after agreement signed?

thanks, hng33, surely hope more details will be out Monday and Puncak circular out within 2 weeks...

hng33, do you think the amount spent, both equity and liability portion, by PAAB to acquire Puncak's Selangor water asset will be announced Monday? I can't estimate how much net asset Puncak will have after the acquisition...

thanks, hng33... I thought share price will at least 3.6 today, guess I am wrong

Seems Tiah enjoys having TA Global spending money developing his personally owned land and buying up it right before completion more than your great idea.

Don't get me wrong, I also own this stock and hope it will rise, but not to the extent that a privatization rumor would excite me. I have owned this stock for more than 10 years, and I have heard him and his wife saying developing TA3&4 and Nova for years while actually dumping TA Global precious money into hotels that appreciate in asset value but not profits

do you know how much is needed for Tiah to privatize TA? Even at 1.00 per share, that's 1.71 billion market cap, Tiah would need to come up with at least RM 1.1 billion...

alas, the agreement is not even signed yet, definitely more oomph to come, probably until a circular is out where a clearer picture is offered on how much money will be distributed back to shareholders

Slowly slowly up with more good news from hng33

I once value it between 3.80 n 4.20 before start buying around 3. Now kind of hope for 1 ram dividend now

Start rising again

sparroking, call cimb credit cards, they will offer you 3 years annualized personal loan of around 5-6%. But you can get at cheaper cost if you use margin for trading stocks...

hng33, thanks. Just hope they sign the definitive agreement soon.

BJCorp financing cost for FY2014 and FY 2013 are 344 mil and 316 mil respectively. So long that its paring down debt by selling non-core assets, the reduced debt itself would have contributed tremendously towards its profits, which are -166 mil and 74 mil for FY 2014 and FY2013.

For every 1 billion in cash raised, there is a cost saving of 55 mil (at least) and so far it has sold over 1 billion of asset.

Calvin, at this discount level, so long as BJCorp takes drastic action to sell unyielding asset to raise cash and improve profit margin of those core businesses, it's still worthy investment, probably worth at least RM 1.00 per share.

Its fair to say that you dare to differ, just not blind or deft. Otherwise, given my exposure to BJCorp in my portfolio, I would not be far behind from you. And surely, I don't want to be called blind or deft. Stubborn, guess its needed if you were to invest...

calvin, to me, BJCorp is valuable only if its selling asset to raise cash. It has too much debt, and even if its assets are undervalued, they are either not yielding much or VT is too good at cooking the book to hide the profits. Look at its profits for the past few years, only three words to describe, bad, poor, miserable.

don't get upset with my words, I own this stock too...

well, at least Puncak is rising while LTH is buying, should be good enough until a definitive agreement is signed and Puncak circular out

LTH purchases more:

Acquired 28/08/2014 1,020,900
Acquired 29/08/2014 865,200
Acquired 02/09/2014 246,300
Acquired 03/09/2014 1,175,000

the last time MOA signed, share price rises to 3.70+, anyway, just got to wait for the best to come...

shouldn't the share price rise if definitive agreement to be signed today?

yes, indeed, so glad that Puncak finally moves...

its 承您贵言，not ‘成’ lah

think research house will wait for the accumulation phase completed before calling buy

finally, starting to accumulate again

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1730593

Type of transaction Date of change No of securities Price Transacted (RM)
Acquired 03/09/2014 200,000 0.928

I am hoping for 4.20 by the time the deal is signed, too bullish?

hng33, excellent news

thanks, will read that again, guess not paying enough attention...

calvin, how do you know its 'osk johor'? very interesting

Hi, any of you attending AGM on Sep 18? Could you ask why the dividend is lowered to less than 40% of net profit?

I like it when BJCorp says sell this, sell that; hate it when otherwise
I see potential dividend when BJCorp sells, prolong holding period when BJCorp buys

Najib is in a good hand at using the water issue to counter Anwar...
Wonder what would Anwar after his wife becomes the MB? A drama series after this nonsense, selfish act of politicians, Malaysian Card of House?

prefer selling from buying to reduce debt to equity ratio

hmm... probably LTH is not the wealthy god father here in Puncak, but the fed and Selangor state are while LTH is the favored son getting extra info?!? Hopefully, what I just said is not seditious in the fed's eyes...

hmm... VT got tooo ambitious over how much he can achieve over his limited fund and now have to sell?

I have initially thought BJCorp's debt could be reduced with the sale of shares and land, now with the increased shareholding in BJland, I am not so sure, sigh!

hopefully we are not those buying at high prices and can't stand anymore, starting to complain, shout, and curse in the next few months...
:)

how much I wish good news will be announced Tuesday, as a gift of Merdeka day?