We think the profits from sales of Ritz Carlton Residences will be reflected in BJLand/ BJCorp coming qtr results?

The total gross development value (GDV) is RM1.18 billion. Already 60% sold in Dec. 2017?

"kahhoeng Read in Focus, Ritz Carlton Residences is only handed over on Dec 08 last year, no wonder sales figures and profits not shown in the quarterly results..."

Quote "Berjaya Land reintroduces newly designed Ritz-Carlton Residences Kuala Lumpur

Berjaya Land Bhd has reintroduced its Ritz-Carlton Residences Kuala Lumpur, located at the intersection of Jalan Sultan Ismail and Jalan Ampang, with new interior design concepts.

The luxury residences are designed by world-renowned, multi-award winning interior design firm Peter Silling & Associates.

“Buyers can now choose from three interior design concepts — Modern, Classic and Finesse — to match their own individual styles," said Berjaya Land CEO and director of Wangsa Tegap Sdn Bhd Datuk Francis Ng in his welcoming remarks at the media preview of the newly designed project.

The 48-storey project offering residential suites is developed by Wangsa Tegap, a wholly-owned subsidiary of Berjaya Corp Bhd. The total gross development value (GDV) is RM1.18 billion.

Sitting on a 2.7-acre freehold site and one of the two towers at Berjaya Central Park, the Ritz-Carlton Residences consists of 288 suites with unit sizes ranging from 1,023 sq ft to 4,284 sq ft. Prices start from RM2,500 psf while the maintenance fee is RM1 psf.

“The residences are slated for completion by 1Q2017 as it is now 91% to 92% completed. The current take-up rate is at 30% so we are eyeing to achieve another 30% — making it 60% by this year end.

“Also, the tenant ratio is 50% foreigners and 50% locals. This development is targeted at high-net-worth individuals where 30% of our buyers are actually multimillionaires,” he claimed."

https://www.edgeprop.my/content/888755/berjaya-land-reintroduces-newly-designed-ritz-carlton-residences-kuala-lumpur

We think the profits from sales of Ritz Carlton Residences will be reflected in BJLand/ BJCorp coming qtr results?

The total gross development value (GDV) is RM1.18 billion. Already 60% sold in Dec. 2017?

"kahhoeng Read in Focus, Ritz Carlton Residences is only handed over on Dec 08 last year, no wonder sales figures and profits not shown in the quarterly results..."

Quote "Berjaya Land reintroduces newly designed Ritz-Carlton Residences Kuala Lumpur

Berjaya Land Bhd has reintroduced its Ritz-Carlton Residences Kuala Lumpur, located at the intersection of Jalan Sultan Ismail and Jalan Ampang, with new interior design concepts.

The luxury residences are designed by world-renowned, multi-award winning interior design firm Peter Silling & Associates.

“Buyers can now choose from three interior design concepts — Modern, Classic and Finesse — to match their own individual styles," said Berjaya Land CEO and director of Wangsa Tegap Sdn Bhd Datuk Francis Ng in his welcoming remarks at the media preview of the newly designed project.

The 48-storey project offering residential suites is developed by Wangsa Tegap, a wholly-owned subsidiary of Berjaya Corp Bhd. The total gross development value (GDV) is RM1.18 billion.

Sitting on a 2.7-acre freehold site and one of the two towers at Berjaya Central Park, the Ritz-Carlton Residences consists of 288 suites with unit sizes ranging from 1,023 sq ft to 4,284 sq ft. Prices start from RM2,500 psf while the maintenance fee is RM1 psf.

“The residences are slated for completion by 1Q2017 as it is now 91% to 92% completed. The current take-up rate is at 30% so we are eyeing to achieve another 30% — making it 60% by this year end.

“Also, the tenant ratio is 50% foreigners and 50% locals. This development is targeted at high-net-worth individuals where 30% of our buyers are actually multimillionaires,” he claimed."

https://www.edgeprop.my/content/888755/berjaya-land-reintroduces-newly-designed-ritz-carlton-residences-kuala-lumpur

woa...10 sens already...

Already anticipated the rebound...

will rebound again like the last time?

last time only bought 1000K @ 5 sens...just wondering how high it will go this time?

wah...hot today...

LAND & PROPERTY RELATED?

1. Can anyone find out the latest update on the award of Jeju Land Project Compensation to BJLand/ BJCorp for losses and damages incurred by the Korean Court? It's already coming to Year 3 since the first legal proceeding commence on 6 November 2015.

Once the Korean Court awards the Jeju Land Project Compensation in 2018, there could be a huge exceptional gain/ reversal of impairment provisions on the Jeju Land Project to BJLand/ BJCorp's latest financial account in 2018?

"The Seoul Central District Court was accordingly informed of the abovementioned developments during the first court hearing of the JDC Lawsuit held on 7 March 2016. " This Announcement is dated 23 March 2016
http://www.bursamalaysia.com/market/listed-companies/company-announcem...

2. At the sixth court hearing on 14 October 2016, the presiding judge had agreed to BJR's application to conduct a land price appraisal of the Jeju Project. The presiding judge had also made an inspection of the Jeju Project site on 25 November 2016. As at the date of this announcement, the land price appraisal report of the Jeju Project has been completed by the court appointed land appraisal company and the land price appraisal report has been submitted directly to the court. The JDC Lawsuit is still on-going.

3. Announcement of Jeju Land Project Compensation to BJLand for losses and damages incurred, by Korean Court in 2018 (land appriasal report submitted to Korean court for consideration in December 2016?) since the land price appraisal report of the Jeju Project has been completed by the court appointed land appraisal company and the land price appraisal report has been submitted directly to the court for consideration as of end 2016 and first reported in BJLand quarterly report ended 31 Jan. 2017?

refer page 20. Berjaya Corporation Berhad
Date: 28 December 2017
Subject: UNAUDITED QUARTERLY (Q2) INTERIM FINANCIAL REPORT FOR THE PERIOD ENDED 31 OCTOBER 2017
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5650097

Ah...10 Years Ago...It's great fun to read the chain of news and events following a stock over the years.

No joke.

Take the Berjaya Land story.

Let me say this again. Anyone who had purchased this stock early in 2007, would have been laughing all the way to the bank by end Dec 2007.

Could History Repeats Itself? Anyone who had purchased this stock in late 2017, would be laughing all the way to the bank by mid 2018?

Refer
http://whereiszemoola.blogspot.my/2009/03/looking-back-at-berjaya-land-part-i.html

http://whereiszemoola.blogspot.my/2009/03/looking-back-at-berjaya-land-part-ii.html

LAND & PROPERTY RELATED?

1. Can anyone find out the latest update on the award of Jeju Land Project Compensation to BJLand/ BJCorp for losses and damages incurred by the Korean Court? It's already coming to Year 3 since the first legal proceeding commence on 6 November 2015. Once the Korean Court awards the Jeju Land Project Compensation in 2018, there will probably be an extraordinary gain/ reverse of impairment provisions on the Jeju Land Project in BJLand/ BJCorp's latest financial account?

"The Seoul Central District Court was accordingly informed of the abovementioned developments during the first court hearing of the JDC Lawsuit held on 7 March 2016. " This Announcement is dated 23 March 2016
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5038553

2. At the sixth court hearing on 14 October 2016, the presiding judge had agreed to BJR's application to conduct a land price appraisal of the Jeju Project. The presiding judge had also made an inspection of the Jeju Project site on 25 November 2016. As at the date of this announcement, the land price appraisal report of the Jeju Project has been completed by the court appointed land appraisal company and the land price appraisal report has been submitted directly to the court. The JDC Lawsuit is still on-going.

3. Announcement of Jeju Land Project Compensation to BJLand for losses and damages incurred, by Korean Court in 2018 (land appriasal report submitted to Korean court for consideration in December 2016?) since the land price appraisal report of the Jeju Project has been completed by the court appointed land appraisal company and the land price appraisal report has been submitted directly to the court for consideration as of end 2016 and reported in BJLand quarterly report ended 31 Jan. 2017?

refer page 20. Berjaya Corporation Berhad
Date: 28 December 2017
Subject: UNAUDITED QUARTERLY (Q2) INTERIM FINANCIAL REPORT FOR THE PERIOD ENDED 31 OCTOBER 2017
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5650097

The problem with BJLand is that there not much public spread and liquidity...as 78.8% BJLand shares already controlled by TSVT & BJCorp...so in order to press down the price today...the Proxies has no choice but to sell a large 2,000 lot at 12.16:07 followed by another 2,000 lot at 12.27:27...the 3rd 2,000 lot was sold at 16.36:25...the 3 large lots already accounted for 6,000/11,610 x 100 = 51.68% of the shares sold by the proxies to each other...as not many minority shareholders are selling since the price is already at historic low?

Also the 2 major issues involving legal pursuits already provided for impairment provisions by BJLand and BJCorp is already discounted by the market earlier.
1. Great China Mall impairment in 2017 (balance of payment guaranteed by Chairman & major shareholder of SkyOcean)
2. Jeju Land impairment in 2016 (favourable court ruling on compensation soon?)

Also one must remember that even TSVT though is the major shareholder, he only owns 1.374% direct interest...the balance of 77.461% is owned by BJCorp...most of us are both shareholders of BJLand and also BJCorp...so any actions of benefit to TSVT and BJCorp i.e Privatisation also benefits us as shareholders of BJCorp & BJLand...Then most of BJLand shares has been charged as collaterals for bank loans by TVST & BJCorp...so the proxies can't afford to press the price too low...as it may trigger margin calls by the Banks which will directly affects TSVT & BJcorp financial standing...which is akin to the "Chicken-and-egg" situation?

They also can't keep the price low (hoping the minority shareholders will sell their shares cheap) for too long without losing the narrow "Window of Opportunity" to make their next corporate moves before GE14 due by June 2018 but most probably could be called as early as after CNY!

Quote "calvintaneng correct! i think the impairment on China Great Mall non payment is grossly overstated.

There should be a provision in S&P stating interest penalty for late overdue payment.

All Banks and Finance Companies charge for late payment. Govt even charge interest penalty on late payment for quit rent and assessments.

Since SkyOcean is listed in Hong Kong the recourse to claims by law is very possible.
if no payment Bj Corp can file writ of seizure and resell the property to others... deducting all legal costs with interest and recover all in full. So the impairment is highly reversible.

SO ANY PERCEIVED WEAKNESS IS AN OPPORTUNITY TO BUY MORE LAGGARD BJ CORP SHARES!"

Then we will wait for the long haul and averages down along the way since there is intentional efforts to press down the price...but as long there is support for BJCorp which has an even bigger impairment provision but price still steady, BJLand price shouldn't fluctuates too much since 2018 is the year for TSVT to prove his mettle as the come back kid...

Yup...that's why we think there are 2 proxies or more...as one normal account max. only can buy or sell 5,000 lots at one time...TVST will cultivate political connections with just anyone who can further his business ambitions...that's why he is friends with both sides including Johor YM...

Berjaya: from zero to hero
Wednesday, 02/15/2017, 12:39

With investments in real estate, finance, and most recently lottery, chairman Vincent Tan showed his ambition to expand Berjaya Corporation’s footprint in Vietnam.

http://english.vov.vn/investment/berjaya-from-zero-to-hero-343466.vov

Business must be good for BJLand to set up so many new subsidiary companies to cater for recreational activities for tourism?

"The Board of Directors of Berjaya Land Berhad (“BLand”) is pleased to announce that
BLand had incorporated the following new subsidiaries under the Companies Act 2016 (the
“Incorporation”):


Ever Revenue Sdn. Bhd. (ERSB) & Ever Perpetual Growth Sdn. Bhd. (EPGSB) are wholly owned subsidariries of Tionman Island Resort Berhad which in turn is an 86.25% owned subsidiary of BJLand.

Infinity Worth Creation Sdn. Bhd. (IWCSB) is wholly owned by KDE Recreation Berhad, a wholly owned subsidiary of Berjaya Vacation Club Berhad, which in turn is a wholly owned subsidiary of BJLand."

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5646225

Quote "calvintaneng VERY GOOD NEWS AS INBOUND TOURISTS JUMPED!!!

1) TOURISTS WILL BUY MORE STUFF FROM 7 ELEVEN AS THEY ARE EASILY LOCATED

2) TOURISTS WILL DRINK STARBUCKS COFFEE

3) TOURISTS WILL EAT AT KENNY ROGERS CHICKEN (HEALTHY & GOOD)

4) TOURISTS WILL EAT AT WENDY & DOKIN DONUTS

5) TOURISTS WILL EAT AT PAPA JOHN PIZZA

6) TOURISTS WILL VISIT COLMAR TROPICAL REPORT OF BERJAYA HILLS

7) TOURISTS WILL SHOP AT BERJAYA WATERFRONT CITY & BERJAYA TIMES SQ

8) TOURISTS WILL STAY AT BERJAYA TIOMAN, REDANG, LANGKAWI & OTHERS

9) SO GO GO BJ CORP!!! "

See
https://www.theedgemarkets.com/article/malaysia-airports-hit-record-9654-mil-2017-driven-international-traffic

I think the Proxies...maybe 2 of them are trading from left to right again...

Btw Bursa already up 4.9 points to 1,821.78 and all the bad news has been discounted long time ago...should see some real action come CNY...

Quote" calvintaneng GOOD MORNING,

DON'T BE AFRAID TO BUY THEM ALL BJ COS WHILE CHEAP!

BETTER BUY JAKS CHEAP AT 40 SEN THAN TO CHASE JAKS AT RM1.60

BETTER BUY MASTEEL AT 66 SEN THAN TO CHASE MASTEEL AT RM1.70

SO BEST TIME IS NOW TO BUY LOW!!!"

If you think BJCorp's price movement is strange...BJLand is stranger still...could be a prelude to TVST's next big move for 2018 before CNY?...BJAsset's price is also almost in line already...

This good news?

Since Salcon boss substantial shareholder of Fitters for pvco pipe replacement?

Salcon bags Selangor pipe replacement contract
PETALING JAYA: Water and wastewater engineering company Salcon Bhd

Salcon has hit a hat-trick this year after securing a third contract worth RM17.16mil from Pengurusan Air Selangor Sdn Bhd.
https://www.thestar.com.my/business/business-news/2017/11/17/salcon-bags-selangor-pipe-replacement-contract/

Yes...Just hold tight to all your BJLand shares and we will wait together until TSVT makes his next move and show his cards on BJLand soon...In the meantime the current price is already at the all time low...accumulate as much you can afford...We are sure that your won't regret this chance given by TSVT in his moves to lock up BJLand soon?

We guess the Proxy who is entrusted to press down the share price (since all negative news has been discounted) to achieve his Objective, is one or more of TSVT's younger scions? Cheers!
https://en.wikipedia.org/wiki/Vincent_Tan

Value Investing on BJLand - Higher Returns with Lower Risk

For the Value Investor, the risk of losing money is low. AT 36.5 ~ 37 sens, BJLand is trading at a historic low, below it's intrinsic share value...the likelihood that the price of BJLand continues to decline is low as it's still a profitable business. That's why the Value Investor doesn’t mind if the stock should fall in the short-term. He uses these set backs as a buying opportunity to accumulate even more shares of BJLand. The Value Investor knows that in the long run, the price of BJLand will rise again and provide above-average returns for the Value Investor.
https://www.gurufocus.com/news/619583/value-investing--higher-return-with-lower-risk

See BJLand's 52 weeks Lowest & Highest 5 years share price trend from 2013 to 2017
2017 - Lowest 36 sens / Highest 66 sens [Profit for the year RM 411,221,000]
2016 - Lowest 56 sens / Highest 76 sens [Loss for the year RM (165,024,000)]
2015 - Lowest 63 sens / Highest 83 sens [Loss for the year RM (161,828,000)]
2014 - Lowest 75 sens / Highest 88 sens [Profit for the year RM 309,213,000]
2013 - Lowest 76 sens / Highest 93 sens [Profit for the year RM 296,775,000]

"We think TSVT is cooking up something with BJLand in 2018 before GE14 to be held soon...Buy as much as you can...as BJLand Intrinsic share value is RM0.92 per share (according to icon8888 with his 'Neutral & Objective Assessment" since not interested in BJLand)...before the cheap supply dries up and before more foreign investors come into Bursa! As TSVT & BJCorp already holds move than 78.8% BJLand shares (purchased at an average price of 70 sens per share) there is not much free floating shares left on Bursa for cheap sale before TSVT locks everything up...

Sum of Parts for BJLand = Adjusted Assets - Adjusted Liabilities
= RM9.163 billion - RM4.564 billion
= RM4.599 billion.
Divided by 5 billion BJ Land shares, Intrinsic Value = RM0.92 per share.
https://klse.i3investor.com/blogs/icon8888/99941.jsp

Even TSVT bought 6,317,600 BJLand shares at 48 sens per share in the latest off market transaction on 15 November 2017 for his latest project?

Name of Affected Person: Tan Sri Dato' Seri Vincent Tan Chee Yioun
Date of Transaction: 15.11.2017
Price per share: RM0.48
No. of shares acquired: 6,317,600
% of Ordinary shares: 0.127
Tan Sri Dato' Seri Vincent Tan Chee Yioun
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5605153

Quote "calvintaneng Hi guys,

Hold tight all Bj Corp stocks of Great Value

The Trend is starting. Rotation from frothy Growth Stocks into Value Stocks"

See
"Why investors should continue rotating from growth into value stocks
Rebecca Ungarino | @ungarino
Published 10:32 AM ET Fri, 8 Dec 2017
CNBC.com"
https://www.cnbc.com/2017/12/08/why-investors-should-continue-rotating-from-growth-into-value-stocks.html

Maybe...however one must consider that Berjaya Group always provides for reversible provisions on impairments in their annual accounts...that's why there are so many restatements (due to Quarterly unaudited creative accounting)?... also the 52 weeks high and low share price from 2013 to 2017 should tell us something...considering that 2017 was a profitable year?

Can anyone explain this observation then? Since BJLand is 78.8% owned by BJcorp & TSVT...

Quote "Just noticed an interesting observation...Apparently BJLand always restates it's Annual Audited Accounts.

The year end for 2017, marks the historical low of 36 sens for BJland even with an increased Revenue of RM6,371,366,000 and Profit for the year of RM411,221,000. If you observe carefully, BJLand made losses in 2015 & 2016 but the lowest share price of BJLand for 2016 is 56 sens, while for 2015 was 63 sens, which is very much higher than the historical low of 36 sens for 2017 when BJLand actually made an annual profit of RM411,221,000.

Since 36 sens is already the historical low..more downside is limited, with opportunities to accumulate at the lowest price if there are willing sellers as all provisions for impairments has been discounted up to the year 2017. Once the provisions for impairments is reversed in 2018 with the recovery of all profits due to BJLand, the average Target Price upside potential for BJLand will be very good..

According to : https://klse.i3investor.com/servlets/ptg/4219.jsp
Last Price Avg TP Upside
0.36 0.77 +0.41 (113.89%)

The summary as follows:
2017
Revenue RM6,371,366,000
Profit/(Loss) for the year RM 411,221,000
52 weeks Lowest 36 sens / Highest 66 sens

2016 (Restated)
Revenue RM6,283,997,000
Profit/(Loss) for the year RM (165,024,000)
52 weeks Lowest 56 sens / Highest 76 sens

2015 (Restated)
Revenue RM5,910,163,000
Profit/(Loss) for the year RM (161,828,000)
52 weeks Lowest 63 sens / Highest 83 sens

2014 (Restated)
Revenue RM5,021,299,000
Profit/(Loss) for the year RM 309,213,000
52 weeks Lowest 75 sens / Highest 88 sens

2013 (Restated)
Revenue RM4,246,613,000
Profit/(Loss) for the year RM 296,775,000
52 weeks Lowest 76 sens / Highest 93 sens"

http://www.berjaya.com/berjaya-land/berjaya-land-financial-summary.html

With similar pricing for both Berjaya Group Value Stocks...the buy queue is very much shorter at BJLand...the rebound would also much faster and more furious?

Recap on BJLand Sungei Besi Land Development...

"Court decides in BJLand’s favour on Selangor Turf Club issue
The long-delayed plan to relocate the Selangor Turf Club (STC) premises from Sungei Besi to a bigger land in Sungai Tinggi is set to move forward, spurred by a court ruling.

(BJLand) said its subsidiary Berjaya Tagar Sdn Bhd (BTSB) had won a judicial review against the Selangor state government and other relevant authorities, as it sought to move forward the approval process and procedures for the project".

"In 2004, Berjaya Tagar had entered into an agreement with STC for the acquisition of three parcels of leasehold land measuring a total of 245 acres in Sungai Besi for RM640 million, of which RM35 million will be paid in cash and the balance of RM605 million will be satisfied by a transfer to STC of 750 acres of land in Bukit Tagar with a newly built turf club."

BJL和双溪贝西土地开发公司总结

“法院认定BJLand对雪兰莪州草地俱乐部有利
将雪兰莪州草皮俱乐部（STC）场地从双溪贝西迁至双溪丁宜大片土地的长期计划，将由法院裁决推动。

BJLand）表示，其子公司Berjaya Tagar Sdn Bhd（BTSB）赢得了对雪州政府和其他相关部门的司法审查，因为它试图推进该项目的审批程序和程序“。

“2004年，Berjaya Tagar与STC达成协议，以6.4亿令吉收购位于Sungai Besi的总面积为245英亩的三幅租赁土地，其中RM3500万将以现金支付，其余RM650 million令吉 将在新建的草地俱乐部转让给STC 750英亩的Bukit Tagar土地。

https://www.thestar.com.my/business/business-news/2017/11/11/court-decides-in-blands-favour-on-selangor-turf-club-issue/
http://www.theedgemarkets.com/article/berjaya-land-wins-judicial-review-proceed-construction-new-selangor-turf-club

"Generally, the Sungai Besi Highway (Besraya) can be divided into North, Central and South sectors. For now, the Northern sector is mostly occupied by industrial factories along Jalan Chan Sow Lin, but with the the proposed Bandar Malaysia development taking off, it will subsequently enhanced the commercial value of the area. In the middle of Sungai Besi is residential suburbs such as Desa Petaling and Salak South, while the Bandar Tasik Selatan, where the integrated transportation terminal – Terminal Bersepadu Selatan (TBS) is located. Further South, one can find the Selangor Turf Club (STC) and Taman Tasik Damai, where there is the Lake Fields gated and guarded residence, before the road continues to Balakong, Serdang and Kajang"

Lake Fields gated and guarded residence near Selangor Turf Club (STC) and Taman Tasik Damai, where transacted land price was RM604 per sq. ft. in 2015.
http://propertyinsight.com.my/wp-content/uploads/2017/05/Screen-Shot-2017-05-09-at-9.51.29-PM.png

SUNGAI BESI: ONCE A TIN MINE, NOW A PIECE OF GOLDEN REAL ESTATE
“Sungai Besi has a new lease of life as all the economic centres are moving towards the southern region of Kuala Lumpur. It is poised to become a central business district for the country. With the emergence of Tun Razak Exchange (TRX), the city’s financial district and Bandar Malaysia, there will be an immense growth within the central business district coupled with good connectivity such as the Terminal Bersepadu Selatan (TBS) and a few major highways, Sungai Besi will certainly be a gem in Kuala Lumpur. All the other measures taken within the surrounding area has become a catalyst to upcoming developments.”

Bandar Malaysia in Sungei Besi, three kilometers away from its twin project Tun Razak Exchange, is set to have the most innovative urban solutions for liveability in a new urban ecosystem, relooking at the relationship between people, buildings, traffic and nature in the capital city.

“A modern metropolis with high quality living and good connectivity.” That is how the Prime Minister sees Bandar Malaysia – soon to be transformed from the existing Sungai Besi Airport.

The Government expects the development to bring in a huge amount of foreign direct investments, (FDIs) starting with the US$2bil (RM8.14bil) by CREC to build its integrated office complex there.

There is also the Kuala Lumpur–Singapore High Speed Rail (HSR) project, which will definitely add more investment value to Sungai Besi area. The project was announced by the Prime Minister in September 2010 and supposedly connects Kuala Lumpur and Johor Bahru with Singapore. On 19 February 2013, Singapore and Malaysia had officially agreed to build a high-speed rail link between Kuala Lumpur and Singapore by 2022, with work scheduled to commence next year.
http://propertyinsight.com.my/blog/sungai-besi-once-a-tin-mine-now-a-piece-of-golden-real-estate/
http://propertyinsight.com.my/area-focus/sungai-besi/

Recap on BJLand Sungei Besi Land Development...

"Court decides in BJLand’s favour on Selangor Turf Club issue
The long-delayed plan to relocate the Selangor Turf Club (STC) premises from Sungei Besi to a bigger land in Sungai Tinggi is set to move forward, spurred by a court ruling.

(BJLand) said its subsidiary Berjaya Tagar Sdn Bhd (BTSB) had won a judicial review against the Selangor state government and other relevant authorities, as it sought to move forward the approval process and procedures for the project".

"In 2004, Berjaya Tagar had entered into an agreement with STC for the acquisition of three parcels of leasehold land measuring a total of 245 acres in Sungai Besi for RM640 million, of which RM35 million will be paid in cash and the balance of RM605 million will be satisfied by a transfer to STC of 750 acres of land in Bukit Tagar with a newly built turf club."

BJL和双溪贝西土地开发公司总结

“法院认定BJLand对雪兰莪州草地俱乐部有利
将雪兰莪州草皮俱乐部（STC）场地从双溪贝西迁至双溪丁宜大片土地的长期计划，将由法院裁决推动。

BJLand）表示，其子公司Berjaya Tagar Sdn Bhd（BTSB）赢得了对雪州政府和其他相关部门的司法审查，因为它试图推进该项目的审批程序和程序“。

“2004年，Berjaya Tagar与STC达成协议，以6.4亿令吉收购位于Sungai Besi的总面积为245英亩的三幅租赁土地，其中RM3500万将以现金支付，其余RM650 million令吉 将在新建的草地俱乐部转让给STC 750英亩的Bukit Tagar土地。

https://www.thestar.com.my/business/business-news/2017/11/11/court-decides-in-blands-favour-on-selangor-turf-club-issue/
http://www.theedgemarkets.com/article/berjaya-land-wins-judicial-review-proceed-construction-new-selangor-turf-club

"Generally, the Sungai Besi Highway (Besraya) can be divided into North, Central and South sectors. For now, the Northern sector is mostly occupied by industrial factories along Jalan Chan Sow Lin, but with the the proposed Bandar Malaysia development taking off, it will subsequently enhanced the commercial value of the area. In the middle of Sungai Besi is residential suburbs such as Desa Petaling and Salak South, while the Bandar Tasik Selatan, where the integrated transportation terminal – Terminal Bersepadu Selatan (TBS) is located. Further South, one can find the Selangor Turf Club (STC) and Taman Tasik Damai, where there is the Lake Fields gated and guarded residence, before the road continues to Balakong, Serdang and Kajang"

Lake Fields gated and guarded residence near Selangor Turf Club (STC) and Taman Tasik Damai, where transacted land price was RM604 per sq. ft. in 2015.
http://propertyinsight.com.my/wp-content/uploads/2017/05/Screen-Shot-2017-05-09-at-9.51.29-PM.png

SUNGAI BESI: ONCE A TIN MINE, NOW A PIECE OF GOLDEN REAL ESTATE
“Sungai Besi has a new lease of life as all the economic centres are moving towards the southern region of Kuala Lumpur. It is poised to become a central business district for the country. With the emergence of Tun Razak Exchange (TRX), the city’s financial district and Bandar Malaysia, there will be an immense growth within the central business district coupled with good connectivity such as the Terminal Bersepadu Selatan (TBS) and a few major highways, Sungai Besi will certainly be a gem in Kuala Lumpur. All the other measures taken within the surrounding area has become a catalyst to upcoming developments.”

Bandar Malaysia in Sungei Besi, three kilometers away from its twin project Tun Razak Exchange, is set to have the most innovative urban solutions for liveability in a new urban ecosystem, relooking at the relationship between people, buildings, traffic and nature in the capital city.

“A modern metropolis with high quality living and good connectivity.” That is how the Prime Minister sees Bandar Malaysia – soon to be transformed from the existing Sungai Besi Airport.

The Government expects the development to bring in a huge amount of foreign direct investments, (FDIs) starting with the US$2bil (RM8.14bil) by CREC to build its integrated office complex there.

There is also the Kuala Lumpur–Singapore High Speed Rail (HSR) project, which will definitely add more investment value to Sungai Besi area. The project was announced by the Prime Minister in September 2010 and supposedly connects Kuala Lumpur and Johor Bahru with Singapore. On 19 February 2013, Singapore and Malaysia had officially agreed to build a high-speed rail link between Kuala Lumpur and Singapore by 2022, with work scheduled to commence next year.
http://propertyinsight.com.my/blog/sungai-besi-once-a-tin-mine-now-a-piece-of-golden-real-estate/
http://propertyinsight.com.my/area-focus/sungai-besi/

Foreign funds bought RM915.1m Malaysian equity in first week of 2018, says MIDF Research.

https://www.theedgemarkets.com/article/foreign-funds-bought-rm9151m-malaysian-equity-first-week-2018-says-midf-research

Quote "SIX COMMANDMENTS FOR THIS POWERFUL BULL RUN OF 2018 (Calvin Tan)
Author: calvintaneng | Publish date: Mon, 8 Jan 2018, 10:55 AM

Hi guys/gals,

We are at the beginning of a powerful GE14 Election Year/ Chinese New Year 2018 Bull Run!

Why should this BULL RUN continues?

Answer:

1) 1MDB has settled all its debts to IPIC. So Malaysia didn't go the way of Brazil or Venezuela! With this impediment removed FOREIGN FUNDS's confidence will be boosted Sky High!! And Foreign Funds poured in almost Rm1 Billions to KLSE.

These Coming Tide of New Hot Monies will continue to power up Bursa.

2) North Korea in dialogue with South Korea... Nuclear tension thawing. This is another uncertainty that kept Funds away. So peace reigns for now. And more reasons to come back to emerging Asia in general and undervalue Malaysia in particular.

Since KLSE gone down the most KLSE will go up the most

3) CRUDE OIL rebound also lift up Ringgit. The Rm4.00 to one USD is finally broken!

Another good reason for Foreign Funds to invest in KLSE. Twin profits from Stock Price gains & exchange rate gains as both Bursa & Ringgit continue to out perform in 2018.


So keep these 6 Commandments


1) GO FULLY INVESTED.

The wind of Fortune has just started blowing until GE14 Election Day! Long way up!

So convert cash to equities. Cash on its own with 3% Bank FD has a P/E of 33.3. So it will take 33.3 years to double your monies. Can hardly cover inflation.

2) Don't need to hit and run or jump from share to share. Just buy and hold. In Bull Run most monies are made by sitting still and doing nothing. But it's ok if trading increased among punters and Remisiers' are happy. A jolly good time for all.

3) Don't waste time debating and quarrel over stocks. Listen to all posts. Then make your own decisions. Be responsible to your own actions. Gain or lose is your own.

4) Don't take small profits if you think the shares you bought are good. Stick with it for the maximum profit

5) Don't forget to take more position if you think the stock is outstanding. This was what My Johor Sifu taught me. If you have found a stock which you think is very good don't just nibble. YOU MUST HAMMER IT!

In other words if you think you have found a "Chun Chun Stock" you should not just nibble. You should take Huge Position. Of course you must also bear in mind not to overdo it. Buy within your means. And able to sleep well every night

6) If the Shares you bought didn't go up immediately don't be tempted to sell. In the Game of Rotational Plays all laggards will also move in their turns. A Rising Tide Lifts All Boats."

According to Nanyang Siang Pau, TSVT is one of the Market Movers For 2018

Quote translated from Mandarin "In 2017, the economic performance of our country is dazzling. Gross domestic product (GDP) surpassed expectation frequently and the ringgit rose as well. This will make the market optimistic about this year's market. In particular, we launched a number of corporate activities last year and may see results this year, whether it is performance or share price. As a result, Nanyang Siang Pau posted a big move for everyone in the past year and who will continue to be an important figure in 2018.

Tan Sri Vincent Tan Chee Yioun, founder and chairman of the Berjaya Group, unexpectedly come of retirement, not only pushing up the share price of Berjaya Group (BJCORP and BJLAND) but makes people very much look forward to what he will do in 2018!

Although he was still frequently active in corporate activities, the news of his re-entry still surprised the whole market. However, the market generally felt positive about his return and also very much looked forward to his contributions to the Group. I believe there will be more major moves by Tan Sri Vincent Tan Chee Yioun this year. Some research analysts believe he will help rebuild friendly relations with political circles if it works, or help to promote future earnings and stock prices off Berjaya Group as he returns to the board of directors.

Tan Sri Vincent Tan Chee Yioun returned to the team and immediately reported the good news of the successful judicial review the plan announced for acquisition of the Jockey Club site in Sungei Besi from Selangor Racing Club (STC)and the construction of a new horse racing club can proceed.

Tan Sri Vincent Tan Chee Yioun's re-entry also boosted the market sentiment for the Berjaya Corp, that share price surged 8 cents, or 24.24%, in the nearly 1-month period from 33 cents on the day it was announced to return to the Berjaya Corp board. It even hits 41.5 cents on 15 November, setting a new high since March 22, 2016"

https://klse.i3investor.com/blogs/kianweiaritcles/142961.jsp

根据南洋商报，TSVT是2018年的市场推动者之一

刚刚结束的2017年，我国经济表现亮眼，国内生产总值（GDP）频频超越预期，令吉也回升，让市场看好今年的市场。

特别是去年展开多项企业活动，或会在今年看到成果，不管是业绩表现或股价。

因此，《南洋商报》为大家评点在去年有大动作，并且在2018年也将继续呼风唤雨的重要人物。

成功集团创办人兼执行主席丹斯里陈志远 重出江湖股价即涨

丹斯里陈志远在退休5年后，出其不意地宣布重出江湖，不仅推高成功集团（BJCORP，3395，主板贸服股）股价，成功置地（BJLAND，4219，主板贸服组）搁置多年的计划也有了进展，这让人非常期待他在2018年会有什么新举动！

陈志远在2017年11月1日，宣布重新执掌成功集团执行主席，虽然他此前仍频频出现在公司活动上，但重出江湖的消息，依然让整个市场感到意外。

不过，市场对他的复出普遍感到正面，也非常期待他对集团的贡献，相信今年会有更多大动作。

有研究主管认为，随着他重回董事部，相信将有助于重建与政界的友好关系。若是奏效，或有助推动未来盈利和股价。

陈志远重新归队，马上捎来好消息，即是成功置地要求展开的司法检讨获得胜诉，使到在2004年宣布向雪兰莪赛马俱乐部（STC）收购位于新街厂地皮和兴建新赛马俱乐
陈志远也提振市场对成功集团的投资情绪，让下跌了5年的股价，有了上涨动力！

股价从宣布重回董事部当天的33仙，在接近1个月内激增8仙或24.24%；更在11月15日一度冲上41.5仙，创下自2016年3月22日以来新高。

For the Proxy to work so hard...I rest my case...

Quote "TSVT has postponed his intention on DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS), INTENTION TO DEAL DURING CLOSED PERIOD last month or was it a "Red Herring" to throw people off his true intentions and plans for BJLand in 2018?
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5606825

As of 17 November 2017, TSVT & BJCorp already controlled 78.835% of BJLand, I just wondered how TSVT & BJCorp met Bursa Malaysia's requirements of "Public Shareholding Spread", when the number of shares owned by one party exceeds 75% without the risk of delisting or suspension by Bursa Malaysia? What's TSVT intention of keeping BJLand still listed when already controls more than 78.8%?

GUIDANCE NOTE 13 - PUBLIC SHAREHOLDING SPREAD​
http://customer.bursamalaysia.com:8080/ACE/Pages/AceGuidanceNote13.aspx "

Already waiting higher at 0.32 also no luck :(

I think any shareholders can alert Bursa Malaysia on this non compliance of Public Spread if BJLand management has not done so and made a "Status Announcement" as required by Bursa Malaysia?

Quote "Disclosure requirements in the event of non-compliance
​
​3.1 ​Rule 8.02(3) of the Listing Requirements provides that a listed corporation must announce to the Exchange that it does not comply with the Required Public Shareholding Spread immediately upon it becoming aware of this (“Non-Compliance Announcement”).
​ ​
​3.2 ​The listed corporation must include the following information in its Non-Compliance Announcement:​
​ ​
​ ​(a) ​a statement that the listed corporation does not comply with the public shareholding spread requirement set out in Rule 8.02(1) of the Listing Requirements;
​ ​ ​
​ (b)​ ​the percentage of public shareholding spread
​ ​ ​
​ ​(c) steps taken or proposed to be taken by the listed corporation to comply with the Required Public Shareholding Spread (“Rectification Plan”) including the following:
​ ​ ​
​ ​ ​(i) ​the tentative timeline in respect of the Rectification Plan; and
​ ​ ​ ​
​ ​ ​(ii) ​the status of the Rectification Plan; and​
​ ​ ​ ​
​ ​(d) ​where the listed corporation has not formulated a Rectification Plan, the status of the listed corporation’s endeavours to formulate such a plan or where a Rectification Plan has not been formulated and/or if no endeavours have been taken to formulate such a plan, an appropriate negative statement to such effect.
​ ​ ​
​3.3 ​After the Non-Compliance Announcement, a listed corporation which does not comply with the Required Public Shareholding Spread must announce the status of its efforts to comply with the Required Shareholding Spread (“Status Announcement”). The listed corporation must make the Status Announcement for each quarter of its financial year simultaneously with the quarterly reports and in any event, not later than 2 months after the end of each quarter of a financial year.
​ ​
​3.4 ​The listed corporation must include the following information in the Status Announcement​:
​ ​
​ ​(a) ​the information prescribed in paragraph 3.2 above; and
​ ​ ​
​ ​(b) ​a statement as to whether an extension of time for compliance has been granted by the Exchange and if so, the following:
​ ​ ​ ​​
​ ​ ​(i) ​the duration of extension granted; and
​ ​ ​ ​
​ ​ ​(ii) ​the expiry date of the extension. "

http://customer.bursamalaysia.com:8080/ACE/Pages/AceGuidanceNote13.aspx

​ ​ ​ ​

We must be getting close to the truth to elicit an immediate response from the Proxy?

Quote" Klse up 10.66 points to break 1,803.45 today...isn't it ironic that the Subsidary is almost the same price as BJCorp the Holding Company, where the provisions for reversible impairments is very much bigger?...Obviously somebody is setting up roadblocks for an Objective?

Anyway it presents an opportunity to buy low as most news has been discounted and it's a window of opportunity for those who has been buying BJCorp to switch to BJLand instead as the entry cost is almost similar? The rebound for BJLand will be fast and furious with the run up to GE14...the Objective maybe TSVT needs to make his next move soon to raise funds to back some friendly political parties to support his pet projects?"

TSVT has postponed his intention on DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS), INTENTION TO DEAL DURING CLOSED PERIOD last month or was it a "Red Herring" to throw people off his true intentions and plans for BJLand in 2018?
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5606825

As of 17 November 2017, TSVT & BJCorp already controlled 78.835% of BJLand, I just wondered how TSVT & BJCorp met Bursa Malaysia's requirements of "Public Shareholding Spread", when the number of shares owned by one party exceeds 75% without the risk of delisting or suspension by Bursa Malaysia? What's TSVT intention of keeping BJLand still listed when already controls more than 78.8%?

GUIDANCE NOTE 13 - PUBLIC SHAREHOLDING SPREAD​
http://customer.bursamalaysia.com:8080/ACE/Pages/AceGuidanceNote13.aspx

Direct Interest (TSVT) 1.374%
Indirect Interest (BJCorp) 77.461%
Total % of Shares held 78.835%

We must be getting close to the truth to elicit an immediate response from the Proxy?

Quote" Klse up 10.66 points to break 1,803.45 today...isn't it ironic that the Subsidary is almost the same price as BJCorp the Holding Company, where the provisions for reversible impairments is very much bigger?...Obviously somebody is setting up roadblocks for an Objective?

Anyway it presents an opportunity to buy low as most news has been discounted and it's a window of opportunity for those who has been buying BJCorp to switch to BJLand instead as the entry cost is almost similar? The rebound for BJLand will be fast and furious with the run up to GE14...the Objective maybe TSVT needs to make his next move soon to raise funds to back some friendly political parties to support his pet projects?"

Klse up 10.66 points to break 1,803.45 today...isn't it ironic that the Subsidary is almost the same price as BJCorp the Holding Company, where the provisions for reversible impairments is very much bigger?...Obviously somebody is setting up roadblocks for an Objective?

Anyway it presents an opportunity to buy low as most news has been discounted and it's a window of opportunity for those who has been buying BJCorp to switch to BJLand instead as the entry cost is almost similar? The rebound for BJLand will be fast and furious with the run up to GE14...the Objective maybe TSVT needs to make his next move soon to raise funds to back some friendly political parties to support his pet projects?

Klse already up 10.62 points to 1,793.27 this morning with the run-up to GE14 to be held most probably after Chinese New Year between March to June 2018?

As the window of opportunity is quite narrow for TSVT to capitalise on this...I think TVST would make his next move soon... as BJLand has been consolidating for almost a year already...with TSVT's average acquisition cost for BJland at around 70 sens per share...

I think the year 2018 will be an auspicious date for TSVT to make his next corporate move for BJLand like privatisation, since already owns more than 78.8%...:)

Quote "Malaysian tycoon Tan Sri Vincent Tan purportedly prefers players with the number 8 in their birthdates for the Cardiff City British football club he owns, a UK journalist alleged today. The number 8 is considered auspicious in Chinese culture, and the preference has baffled the UK media which has followed the colourful billionaire, ranked by Forbes as Malaysia’s ninth richest man".
http://www.themalaymailonline.com/sports/article/vincent-tan-prefers-players-with-lucky-8-in-their-birthdates#uHxzZ5P8JtTvPJaf.97

Quote "The change of pace is attributed to Tan Sri Vincent Tan. His company, Dijaya Enterprise Bhd (later renamed MOL.com Bhd), is subscribing for a 60.8 per cent stake in World of Feng Shui for RM16.8 million. He got in touch with Lillian earlier this year and made her the offer. How did they arrive at the valuation? The figure RM16.8 million was chosen because it is auspicious. Apparently, in Cantonese it means prosperity all the way."
http://www.lillian-too.com/news_mnbjuly00.php

Same same lah...still in the queue...so far still no luck... :(

Yes...agreed once the impairment provisions provided earlier in 2016 & 2017 are reversed by BJLand with a favorable Jeju Land court ruling, final payment of China property project and profit from disposing Vietnam property project...there is no reasons for BJLand to be not profitable in 2018...Huat...Ahh!

Happy New Year! Here's to a Prosperous New Year 2018 for All :)

btw Just noticed an interesting observation...Apparently BJLand always restates it's Annual Audited Accounts.

The year end for 2017, marks the historical low of 36 sens for BJland even with an increased Revenue of RM6,371,366,000 and Profit for the year of RM411,221,000. If you observe carefully, BJLand made losses in 2015 & 2016 but the lowest share price of BJLand for 2016 is 56 sens, while for 2015 was 63 sens, which is very much higher than the historical low of 36 sens for 2017 when BJLand actually made an annual profit of RM411,221,000.

Since 36 sens is already the historical low..more downside is limited, with opportunities to accumulate at the lowest price if there are willing sellers as all provisions for impairments has been discounted up to the year 2017. Once the provisions for impairments is reversed in 2018 with the recovery of all profits due to BJLand, the average Target Price upside potential for BJLand will be very good..

According to : https://klse.i3investor.com/servlets/ptg/4219.jsp
Last Price Avg TP Upside
0.36 0.77 +0.41 (113.89%)

The summary as follows:
2017
Revenue RM6,371,366,000
Profit/(Loss) for the year RM 411,221,000
52 weeks Lowest 36 sens / Highest 66 sens

2016 (Restated)
Revenue RM6,283,997,000
Profit/(Loss) for the year RM (165,024,000)
52 weeks Lowest 56 sens / Highest 76 sens

2015 (Restated)
Revenue RM5,910,163,000
Profit/(Loss) for the year RM (161,828,000)
52 weeks Lowest 63 sens / Highest 83 sens

2014 (Restated)
Revenue RM5,021,299,000
Profit/(Loss) for the year RM 309,213,000
52 weeks Lowest 75 sens / Highest 88 sens

2013 (Restated)
Revenue RM4,246,613,000
Profit/(Loss) for the year RM 296,775,000
52 weeks Lowest 76 sens / Highest 93 sens

http://www.berjaya.com/berjaya-land/berjaya-land-financial-summary.html

The Duel has just started...guess who will win this round?, as BJCorp C4 warrants only left 0.05 sens with 1 more market day to 28/12 (expiry date of C4)?

Because of this gambling element in C4, Macquarie or its proxies will ensure the average price of BJCorp shares stay around 0.35~0.36 or lower depending on C4 price the day before Dec. 28, means chance of 5 days average price of BJCorp shares before Dec. 28 going higher than 0.35~0.36 is rather difficult right?

So for short term players, in order to have a fair chance of making money from BJCorp shares, market timing is everything...

Sure they do...otherwise they are not doing their jobs...the price will not go beyond that of holding company BJCorp...anyway we have the holding power and will accumulate if got opportunity...just treat it like FD which will matures when TSVT thinks it's the right time...

I guess it's the season for privatisation...after Hovid now IWCity just announced their privatisation exercise on 18 Dec....with 78.8% already in TVST's hand, soon it will be BJland's turn...

TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS) : NON RELATED PARTY TRANSACTIONS CONDITIONAL VOLUNTARY GENERAL OFFER TO ACQUIRE ALL THE ORDINARY SHARES IN ISKANDAR WATERFRONT CITY BERHAD ("IWCITY") ("PROPOSED OFFER")
EKOVEST BERHAD

Type Announcement
Subject TRANSACTIONS (CHAPTER 10 OF LISTING REQUIREMENTS)
NON RELATED PARTY TRANSACTIONS
Description CONDITIONAL VOLUNTARY GENERAL OFFER TO ACQUIRE ALL THE ORDINARY SHARES IN ISKANDAR WATERFRONT CITY BERHAD ("IWCITY") ("PROPOSED OFFER")
We refer to the announcements made on 31 October 2017, 28 November 2017 and 30 November 2017.

On behalf of the Board of Directors of Ekovest (“Board”), Mercury Securities Sdn Bhd (“Mercury Securities”) and Astramina Advisory Sdn Bhd (“Astramina”) wish to announce that on even date, the Board (save for the Interested Directors as set out in the attached announcement) has, after having considered all aspects of the Proposed Offer, decided to present the Proposed Offer to the non-interested shareholders of Ekovest for consideration at an extraordinary general meeting of the Company to be convened.

In accordance with Paragraph 9.10(1) of the Rules on Take-overs, Mergers and Compulsory Acquisitions (“Rules”), Mercury Securities and Astramina had on even date, on behalf of the Company, served a notice of conditional voluntary general offer (“Notice”) on the board of directors of IWCity informing them of the Company’s intention to undertake a conditional voluntary general offer to acquire all the Offer Shares in IWCity comprising the following:-

(i) 837,388,857 ordinary shares in IWCity (“IWCity Shares”), representing the entire issued share capital of IWCity as at 11 December 2017; and

(ii) any new IWCity Shares that may be issued prior to the closing date of the Proposed Offer arising from the exercise of outstanding employee share options in IWCity (“IWCity ESOS Options”), (collectively referred to as the “Offer Shares”) for a consideration of RM1.50 per Offer Share (“Offer Price”), which shall be satisfied by way of:-
(i) a cash consideration of RM1.50 for every 1 Offer Share surrendered (“Cash Option”); or
(ii) a share exchange based on an exchange ratio of 1 new ordinary share in Ekovest (“Ekovest Share”) to be issued at an issue price of RM1.50 each (“Issue Price”) (“Consideration Share”) for every 1 Offer Share surrendered (“Share Exchange Option”).
Please refer to the attached announcement and Notice for further details on the Proposed Offer.
This announcement is dated 18 December 2017.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5641345

Some comments by @calvintaneng

"calvintaneng Good morning,

Consider these facts regarding BLand

1. China Great Mall was purchased at much lower price when land was cheap and renminbi was weak. So Bj Land already gained from both asset and currency appreciation

2. It is already a big relief when Skyoceon offered to buy over China Great Mall.

3. Already received half payment. The next half is delayed. But there is recourse as the claims are binding. More so because Hong Kong laws are transparent and good.

4. The impairment is only a small set back if you can SEE the bigger picture.

5. IF THERE IS EVENTUAL PAYMENT DEFAULT BJ LAND CAN SUE FOR WRIT OF SEIZURE AND DISPOSE THE LAND BY WAY OF AUCTION TO RECOVER ALL OUTSTANDING DUES.

6. SO ANY PRICE WEAKNESS DUE TO IGNORANT SELL DOWN JUST ADD MORE.
21/12/2017 08:26"

Agreed that TSVT & proxies is controlling the price and still in accumulation phase as it is suspicious that the outstanding payment balance sales proceeds from Beijing SkyOcean and the Guarantors." which is only due is on 28 November 2017 and should be reported in Qtr. 3 ending 31 January 2018 and not be reported in Quarter 2 for the period ended 31 October 2017 as a impairment provision in order to:

Change the BJLand's actual reported a profit of RM59.18 million for Qtr. 2 to a loss of RM95.91 million due to provision for impairment of RMB243.51 million (equivalent to RM155.08 million) in the current quarter under review (Qtr 2. ended 28 Nov. 2017) to account for the time value of money for the full recovery of the outstanding Final Instalment.

This provision (equivalent to RM155.08 million) attributable to BJland will be reversed when GMOC eventually receives the payment of the balance sales proceeds from Beijing SkyOcean and the Guarantors.", announced today.

Any comments from @stockraider and @calvintaneng on latest BJland results which will also affects BJCorp's coming Quarter 2 results which will to be announced soon due to provision for impairment of RMB243.51 million (equivalent to RM155.08 million) in the current quarter under review to account for the time value of money for the full recovery of the outstanding Final Instalment. This provision (equivalent to RM155.08 million) attributable to BJland will be reversed when GMOC eventually receives the payment of the balance sales proceeds from Beijing SkyOcean and the Guarantors as any market reactions will also affects BJCorp which owns 78.8% of BJLand?

Quote "Please take note BJLand would have reported a profit of RM59.18 million for Qtr. 2 instead of a loss of RM95.91 million due to provision for impairment of RMB243.51 million (equivalent to RM155.08 million) in the current quarter under review to account for the time value of money for the full recovery of the outstanding Final Instalment. This provision (equivalent to RM155.08 million) attributable to BJland will be reversed when GMOC eventually receives the payment of the balance sales proceeds from Beijing SkyOcean and the Guarantors.

A7 There were no material events subsequent to the end of this current quarter that have not been reflected in the financial statements for this current financial quarter under review except for the non-payment of the balance sales proceeds amounting to RMB974.07 million (equivalent to RM620.33 million) ("Final Instalment"), to be received by Berjaya (China) Great Mall Co Ltd ("GMOC") from the disposal of GMOC Project as disclosed in Note B7(d).

GMOC, after having sought legal advice, will commence legal proceedings against Beijing SkyOcean and the Guarantors as it has strong grounds to recover the outstanding Final Instalment due to GMOC.

Based on the legal advice obtained, the Directors are confident that GMOC has strong grounds to fully recover the outstanding Final Instalment in due course.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5643933

Any additional comments from sifu @calvintaneng as any market reactions will also affects BJCorp which owns 78.8% of BJLand?

There will be contra players who may try to benefit from any reactions from those who don't read BJLand's detailed accounts on the provision (equivalent to RM155.08 million) attributable to BJland which will be reversed when GMOC eventually receives the payment of the balance sales proceeds from Beijing SkyOcean and the Guarantors.".

But since it is already a cornered stock with 78.8% owned by TSVT and BJCorp with not much daily sales volume and price fluctuation. The price direction will be guided by TSVT and his proxies to achieve their privatisation objective planned very much earlier?

Quote " Please take note BJLand would have reported a profit of RM59.18 million for Qtr. 2 instead of a loss of RM95.91 million due to provision for impairment of RMB243.51 million (equivalent to RM155.08 million) in the current quarter under review to account for the time value of money for the full recovery of the outstanding Final Instalment. This provision (equivalent to RM155.08 million) attributable to BJland will be reversed when GMOC eventually receives the payment of the balance sales proceeds from Beijing SkyOcean and the Guarantors."

More details on the Guarantor Zheng Zhou:

Note: Both DreamEast Group Ltd formerly known as SkyOcean Holdings and Zheng Zhou are guarantors for the performance of the obligations by Beijing SkyOcean following the sale of the Great Mall by BJLand.

Mr. Zhou Zheng has been appointed as Executive Chairman of the Board, Chief Executive Officer of SkyOcean International Holdings Limited. (now renamed as DreamEast Group Ltd (0593.HK) from July 2017), with effect from 27 January 2014. He is the sole director and beneficial owner of 80% equity interest in SkyOcean Investment, the immediate holding company of the Company. He is also the sole director of two subsidiaries of the Company, including Skyleaf Holdings Limited and SkyOcean International United Limited. Mr. Zhou has over 10 years of working experience in the property development and commercial retail industries and over 7 years of experience in the financial investment industry. He is currently a shareholder and the chairman of SkyOcean Group Holdings Co., Ltd a company established in the PRC and principally engaged in cultural, property development, commercial retail and financial investments industries. Mr. Zhou is also a director of China Minerals Mining Corporation, the shares of which are listed on the Toronto Stock Exchange.
https://www.reuters.com/finance/stocks/company-officers/0593.HK

Zheng Zhou, director of the Company, intends to subscribe for 1,500,000 Units. Mr. Zhou is the sole shareholder of both Sky Ocean Venture Investment Limited ("SkyOcean") and China Mineral Holdings Limited ("CMH"). Prior to closing of the Offering, SkyOcean and CMH collectively hold 44.22% of the issued and outstanding common shares in the capital of the Company making Mr. Zhou the Company's Control Person. After giving effect to the Offering, Mr. Zhou will hold, directly and indirectly, 32.68% of the issued and outstanding common shares in the capital of the Company.
https://www.newsfilecorp.com/release/30859/China-Minerals-Announces-Private-Placement#.Wjpz9d-WaUl

More details on DreamEast Group Ltd (0593.HK) formerly known as SkyOcean International Holdings Limited.

Note: Both DreamEast Group Ltd formerly known as SkyOcean Holdings and Zhou are guarantors for the performance of the obligations by Beijing SkyOcean following the sale of the Great Mall by BJLand.

https://www.reuters.com/finance/stocks/0593.HK/key-developments

SkyOcean Holdings Group Ltd now renamed DreamEast Group Limited in July 2017 is a profitable Hong Kong listed company, as the guarantor should have no problem in paying the amount due in full including interests charges, just late payment to BJLand.

Since the payment due is on 28 November 2017 ...It will have no material effect on BJLand coming Quarter results for the period ended 31 October 2017, to be announced latest by 22 December 2017

SkyOcean Holdings Group Ltd now renamed DreamEast Group Limited for the six months ended 30 June 2017 reported revenue of HKD 1 1,042,617,000 (RM5,777,055,509). Profit before tax was HKD 230,605,000 (RM120,600,195). Profit for the period from continuing operations was HKD 166,706,000 (RM87,216,915). Profit for the period attributable to owners of the company from continuing operations was HKD 160,633,000 (RM84,039,654) or HKD 0.394 (RM0.21) diluted earnings per share.

Do note that:
Beijing SkyOcean is a unit of SkyOcean Holdings Group Ltd where Zhou Zheng is a major shareholder of SkyOcean Holdings. Both SkyOcean Holdings and Zhou are guarantors for the performance of the obligations by Beijing SkyOcean following the sale of the Great Mall.

DreamEast Group Limited engages in the cultural and entertainment businesses in Hong Kong, China, and the United States. It develops and operates tourist resorts. The company was formerly known as SkyOcean International Holdings Limited and changed its name to DreamEast Group Limited in July 2017. DreamEast Group Limited is headquartered in Causeway Bay, Hong Kong.

DreamEast Group Limited Announces Unaudited Consolidated Earnings Results for the Six Months Ended 30 June 2017
Announced Aug 31 17
DreamEast Group Limited announced unaudited consolidated earnings results for the six months ended 30 June 2017. For the six months, the company reported revenue of HKD 1 1,042,617,000 against HKD 9,895,000 a year ago. Profit before tax was HKD 230,605,000 against HKD 150,891,000 a year ago. Profit for the period from continuing operations was HKD 166,706,000 against HKD 90,153,000 a year ago. Profit for the period attributable to owners of the company from continuing operations was HKD 160,633,000 or HKD 0.394 diluted earnings per share against HKD 85,143,000 or HKD 0.250 diluted earnings per share a year ago.

DreamEast Group Limited Announces audited Consolidated Earnings Results for the Six Months Ended 30 June 2017
Announced Sep 29 17
DreamEast Group Limited announced audited consolidated earnings results for the six months ended 30 June 2017. For the six months, the company reported net cash from operating activities of HKD 191,696,000 against net cash used in operating activities of HKD 866,101,000 a year ago. Purchase of property, plant and equipment were HKD 1,122,000 against HKD 413,000 a year ago.

https://www.bloomberg.com/research/stocks/private/snapshot.asp?privcapId=878717
http://iis.aastocks.com/20170613/002836250-0.PDF

Please take note BJLand would have reported a profit of RM59.18 million for Qtr. 2 instead of a loss of RM95.91 million due to provision for impairment of RMB243.51 million (equivalent to RM155.08 million) in the current quarter under review to account for the time value of money for the full recovery of the outstanding Final Instalment. This provision (equivalent to RM155.08 million) attributable to BJland will be reversed when GMOC eventually receives the payment of the balance sales proceeds from Beijing SkyOcean and the Guarantors.

A7 There were no material events subsequent to the end of this current quarter that have not been reflected in the financial statements for this current financial quarter under review except for the non-payment of the balance sales proceeds amounting to RMB974.07 million (equivalent to RM620.33 million) ("Final Instalment"), to be received by Berjaya (China) Great Mall Co Ltd ("GMOC") from the disposal of GMOC Project as disclosed in Note B7(d).

GMOC, after having sought legal advice, will commence legal proceedings against Beijing SkyOcean and the Guarantors as it has strong grounds to recover the outstanding Final Instalment due to GMOC.

Based on the legal advice obtained, the Directors are confident that GMOC has strong grounds to fully recover the outstanding Final Instalment in due course.

UNAUDITED INTERIM FINANCIAL REPORT FOR THE QUARTER ENDED 31 OCTOBER 2017
For the current quarter under review, the Group reported a revenue of RM1.61 billion and pre-tax loss of *RM95.91 million. Excluding the * provision for impairment of balance sales proceeds from the sale of GMOC Project amounting to RM155.08 million, the Group would have reported a pre-tax profit for the current quarter under review of RM59.18 million.

* In accordance to FRS 139 : Financial Instruments: Recognition and Measurement, GMOC has made a provision for impairment of RMB243.51 million (equivalent to RM155.08 million) in the current quarter under review to account for the time value of money for the full recovery of the outstanding Final Instalment. This provision will be reversed when GMOC eventually receives the payment of the balance sales proceeds from Beijing SkyOcean and the Guarantors.

(B1) The Group reported a pre-tax loss in the current quarter under review mainly due to:
(i) lower profit margins of H.R Owen Plc earned from certain new car sales;
(ii) the provision for impairment of balance sales proceed from the sale of GMOC Project (Note A3); and
(iii) the loss arising from partial disposal of interest in an associated company (Note A3).

A7 There were no material events subsequent to the end of this current quarter that have not been reflected in the financial statements for this current financial quarter under review except for the non-payment of the balance sales proceeds amounting to RMB974.07 million (equivalent to RM620.33 million) ("Final Instalment"), to be received by Berjaya (China) Great Mall Co Ltd ("GMOC") from the disposal of GMOC Project as disclosed in Note B7(d).

GMOC, after having sought legal advice, will commence legal proceedings against Beijing SkyOcean and the Guarantors as it has strong grounds to recover the outstanding Final Instalment due to GMOC.

Based on the legal advice obtained, the Directors are confident that GMOC has strong grounds to fully recover the outstanding Final Instalment in due course.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5643933

Yes, very suspicious indeed...especially when TSVT bought at 48 sens but sells for 39.5~40 sens...sailang now if you have spare money as already at historical low....the returns will be very substantial once the announcement is out!