Bought at 39.5 sen. Pen6 selling? Thanks.

kahhoeng lately Tun M said bad abt Chinaman. What if they don't want to pay what can BJ Land do?

kahhoeng based on the most recent quarterly report, BJLand has a net asset of 6.5 billion, gross borrowing of 3.4 billion, net borrowing of 2.5 billion. After excluding the net borrowing of BJToto, BJLand's net borrowing is merely 1.8 billion.

Based on the FY18 annual report, BJLand is looking at receiving the final settlement from selling China property project amounting to CNY 974 million, approximately RM 590 million, a Jeju court settlement of at least RM 593 million, and Vietnam property project disposal with significant gain (err.. without specifying how much) that's at least RM 222 million. The total amount from the disposal is approximately RM 1.4 billion if not including the significant gain from Vietnam's disposal.

With a net borrowing of less than RM 400 million post disposal and excluding BJToto's net debt, I suppose the current market cap of RM 1.1 billion has more to do with liquidity concern and zero trust-worthiness of BJLand BODs and management.
10/09/2018 16:04

sifus can VT continue to buy until own 90% BJ Land without privatising?