Hopefully, BJCorp and BJLand keep buying back and genuine about privatization. Otherwise, can only hope for dividend.

interestingly, while there's no buy back announcement today by BJLand, BJLand is traded mostly at 0.195 with 4.53 million shares volume. It is closed at 0.19 only with a 10,000 shares volume...

Best don't touch, VT has already shown us minorities, if he's not buying, there is no support. If you want to buy, best get his permission. It's already not a retail investor's choice of investment now, sigh!

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3045612

Immediate Announcement on Shares Buy Back

BERJAYA LAND BERHAD


Date of buy back 22 Apr 2020
Description of shares purchased Ordinary Shares
Currency Malaysian Ringgit (MYR)
Total number of shares purchased (units) 1,000,000
Minimum price paid for each share purchased ($$) 0.190
Maximum price paid for each share purchased ($$) 0.190
Total consideration paid ($$) 190,661.20
Number of shares purchased retained in treasury (units) 1,000,000
Number of shares purchased which are proposed to be cancelled (units)
Cumulative net outstanding treasury shares as at to-date (units) 79,837,104
Adjusted issued capital after cancellation
(no. of shares) (units) 5,000,337,104
Total number of shares purchased and/or held as treasury shares against total number of issued shares of the listed issuer (%) 1.59663

With brent crude around 20 for now and coming few months, think the second quarter earning will be the hardest hit... Just not sure how bad it's going to be. This is the only oil producer in Bursa that I'm comfortable with (how nice if petronas lists its oil producing unit), wanna buy but not so what's the right price.

To meet shareholding spreads breach in Nov 2019, BJCorp has entered into direct business transaction to who knows what then to dispose some shares. With the recent 70 million shares added, wonder how many is collected from this who knows what?


https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3007261

Particulars of substantial Securities Holder

Name BERJAYA CORPORATION BERHAD
Address Lot 13-01A, Level 13 (East Wing), Berjaya Times Square, No.1 Jalan Imbi,
Kuala Lumpur
55100Wilayah Persekutuan
Malaysia.
Company No. 554790-X
Nationality/Country of incorporation Malaysia
Descriptions (Class) Ordinary Shares

Details of changes

No Date of change
No of securities
Type of Transaction Nature of Interest
1 29 Nov 2019
30,000,000
Disposed Deemed Interest
Name of registered holder Juara Sejati Sdn Bhd

err... what if VT stop collecting once 10% shareholding spread is reached? It's not like he had not done that before.

291.3 million shares issued to purchase Penta's BJLand shares, and I mistook it to 230 million shares. Sigh, still another 60 million shares to collect.

What if BURSA agree to a 10% shareholding spread and there's no privatization?

It's difficult to guess VT's move, whether to privatize BJLand or not, but one thing is certain though, VT is not a man of honoring his own words. So, best not hoping for a dividend or a privatization deal...

no more faith in VT, dare not buy anymore, sigh!

alas, there's no way to tell how much Hibiscus should be priced. The oil market is bad and there's no telling how long before it makes a turn all because the influencing factor is Covid-19. Think Hibiscus should do well if it can hang on until the crisis is over.

This low oil price could last a few months, I think...

https://www.bloomberg.com/news/articles/2020-04-14/saudis-slashing-oil-prices-to-asia-shows-supply-war-isn-t-over?srnd=premium-asia

...

Aramco cut the May official selling price of its flagship Arab Light crude to Asian customers by $4.20 a barrel from the previous month, exceeding estimates for a reduction of $3.63. That was even after it signed a deal with other producers to cut global output by around 10% to try and support prices.

Strong Competition
About 20 million barrels of April-loading crude remains unsold from West Africa alone, according to traders who asked not to be identified. That’s on top of unsold May-loading supplies from the region that are estimated to be at least triple that of the month before, they said.

Crude from non-Saudi producers in the Middle East is also available with grades including Oman and Upper Zakum being offered on a flexible basis, allowing buyers’ to pick out their preferred arrival periods, three separate traders said.

As well as the supply glut, Aramco and others are grappling with demand that’s continuing to shrivel, particularly in India, which has enforced the world’s biggest lockdown. Iraq said earlier this week that it had trouble marketing its crude amid the supply glut, lower prices and what the country’s oil minister called a “recession” in refining around the world.
...

Tan Huanjian Sigh! You are right, share price keeps on falling despite the purchases, as if those money been thrown into the sea...

SDF2000, thanks...

SDF2000 may I know how you get to know the above information? thanks...

So, instead of weathering uncertain times during this Pandemic, you have suggested a different idea, investing when its cheap... Aren't you aware BJLand is a subsidiary of BJCorp while BJFood and 7-11 are either subsidiary or associate of BJCorp too?

wantanmi, you must be joking, BJCorp is using the money to buy shares in BJFood, BJLand, and BJCorp... BJCorp is understandable, BJLand only if BJCorp is really into privatizing BJLand, BJFood is a big joke, given an earlier news years ago saying BJCorp is looking to sell BJFood. Whats more, BJLand is spending 26 million buying shares in 7-11 and BJFood instead of offering a dividend to allow BJCorp buying those shares...

So generous, a USD 10 million discount...


https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3041718

OTHERS ACQUISITION OF 75% STAKE IN ICELANDAIR HOTELS EHF, HLJOMALINDARREITUR EHF AS WELL AS CERTAIN HOTELS AND REAL ESTATE ASSETS ("ACQUISITION")

BERJAYA LAND BERHAD


Type Announcement
Subject OTHERS

Description ACQUISITION OF 75% STAKE IN ICELANDAIR HOTELS EHF, HLJOMALINDARREITUR EHF AS WELL AS CERTAIN HOTELS AND REAL ESTATE ASSETS ("ACQUISITION")




We refer to our announcements dated 15 July 2019, 24 December 2019 and 28 February 2020 in relation to the Acquisition.



The Purchase Consideration for the Acquisition was USD55.31 million of which a total of USD35.0 million has already been paid to the Seller, leaving a balance of USD20.31 million.



The Board of Directors of Berjaya Land Berhad wishes to announce that the Seller has granted a discount of USD10.0 million due to the temporary adverse economic effects of the COVID-19 outbreak and the amount of the discount has been netted off against the outstanding balance of USD20.31 million. The final net balance due amounting to USD10.31 million was paid on 3 April 2020 and the Acquisition was completed on even date.


This Announcement is dated 3 April 2020.

wantanmi, yes, there's about 14% BJLand not held by VT & BJCorp, but BJCorp only holds about 76%, the rest is held by VT and related cos. So, if BJCorp were to privatize BJLand, BJCorp will also need to issue shares to VT and related cos.

wantanmi, BJCorp issued approximately 200 million shares when exchanging Penta's BJLand holding. There are currently another 1.2 billion BJLand shares not held by BJCorp. If Penta's exchange ratio is the minimum reference exchange ratio, BJCorp will need to issue another 1.5 billion BJCorp shares. Buying back 10% of BJCorp shares is only 521 million shares. BJCorp buying back speed is very slow, doubt it's really into buying back shares to avoid dilution if its inclined to privatize BJLand...

The last time BURSA disapprove less than 15% liquidity, BJCorp has disposed shares to meet the requirement. With the recent purchase, BJCorp has again seek BURSA to relax the requirement. Hopefully, BURSA will not agree to it and BJCorp not disposing shares again to meet that BURSA ruling...

Yes, bjcorp only owns 77% another 8% held by VT and his other cos

kasinathan, I just don't want you to misrepresent my posts here. Of course, I'm clueless if VT will honor his words, but I have to try as a minority shareholder...

Kasinathan, I didn't sing for special dividend, I initially hoped for a similar treatment offered to penta + some cash cause we're holding longer than penta. I later seek dividend cause VT himself is saying dividend upon kyoto four seasons disposal. VT said and I only seeking the BODs to honour his words

Listening to, you mean me??? You must be joking...

looking at the volume, nobody is having faith in VT...

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3038655

No Date of change
No of securities
Type of Transaction Nature of Interest
1 23 Mar 2020
15,000,000
Acquired Direct Interest
Name of registered holder Berjaya Corporation Berhad
Address of registered holder Level 12 Berjaya Times Square No. 1 Jalan Imbi 55100 Kuala Lumpur
Description of "Others" Type of Transaction
2 24 Mar 2020
2,436,000
Acquired Direct Interest
Name of registered holder Berjaya Corporation Berhad
Address of registered holder Level 12 Berjaya Times Square No. 1 Jalan Imbi 55100 Kuala Lumpur

I have sent an email pertaining to Lydia reply:

Dear Lydia,

Thank you for your reply.

Quite frankly, I am not familiar with listing requirements and has no way to confirm if the board of BJLand has acted accordingly and can only hope it is. With reference to the dividend, I should first apologize. Tan Sri VT had only mentioned about dividend upon disposal of Kyoto Four Season during BJCorp's AGM but not BJLand's. My writing may have not reflected this accordingly. Meanwhile, I am still hoping for a clearer answer from the board of both BJCorp and BJLand, i.e., if and when a dividend be declared for the disposal. When Tan Sri commented on a dividend upon disposal, I believe I have not heard any other BJCorp's directors (some were actually sitting on BJLand's board, right?) offering any clarification or disputing what Tan Sri has commented. I can understand current business environment is not appealing. I am not here seeking a huge payout, I am merely seeking the board to act on Tan Sri's promises, even a cent or two per share of dividend will do (each cent per share of dividend cost BJCorp and BJLand less than RM 60 million and BJCorp stands to receive the most from BJLand's dividend), just update us the condition if a dividend can't be too much. I have invested for years and not here seeking short term gain, and I would appreciate the board to have some level of accountability.

Thanks.

Best regards,

I have sent an email pertaining to Lydia reply:

Dear Lydia,

Thank you for your reply.

Quite frankly, I am not familiar with listing requirements and has no way to confirm if the board of BJLand has acted accordingly and can only hope it is. With reference to the dividend, I should first apologize. Tan Sri VT had only mentioned about dividend upon disposal of Kyoto Four Season during BJCorp's AGM but not BJLand's. My writing may have not reflected this accordingly. Meanwhile, I am still hoping for a clearer answer from the board of both BJCorp and BJLand, i.e., if and when a dividend be declared for the disposal. When Tan Sri commented on a dividend upon disposal, I believe I have not heard any other BJCorp's directors (some were actually sitting on BJLand's board, right?) offering any clarification or disputing what Tan Sri has commented. I can understand current business environment is not appealing. I am not here seeking a huge payout, I am merely seeking the board to act on Tan Sri's promises, even a cent or two per share of dividend will do (each cent per share of dividend cost BJCorp and BJLand less than RM 60 million and BJCorp stands to receive the most from BJLand's dividend), just update us the condition if a dividend can't be too much. I have invested for years and not here seeking short term gain, and I would appreciate the board to have some level of accountability.

Thanks.

Best regards,

Actually, the open market purchase of BJLand for the past few days is weird. BJLand now is suffering liquidity concern with no certainty of privatization offer that's at least as good as Penta's latest deal, i.e, 0.38/0.30. Yet, the open market acquisition has driven BJLand to 0.14. I suppose the person buying must be deep pocket and at least have some knowledge about BJLand's future plan.

I can understand BJCorp buying back shares, given 900+ million additional bullets, spending every 10 million can easily reduce BJCorp's share count by 50 million, assuming an average 0.20 per share price. At an average of 0.20 per share purchase price, buying back just the number of shares used to purchase bjland imply an acquisition cost of roughly 0.253 per bjland share, much lower than the actual cost of 0.38 if paying Penta in cash.

Eddysurge, no way to tell if VT want to privatize... Based on what he said, yes, but after listing hotels in Singapore. After conference call with reporters end of 2018, VT managed to sell Kyoto Four Season a year late, but come with two surprises, a Vietnam Hotel disposal and a Iceland hotel group acquisition that were not disclosed in the conference. Given market condition, it is difficult to anticipate a listing in Singapore, at least I am not. So, will VT privatize BJLand? I'm clueless if you were to ask me.

We are not insider, at least I'm not, so I don't even know if Jeju and China Great Wall will be settled soon. If BJLand receive at least 900 million from Kyoto Four Seasons disposal, BJLand net debt has been greatly reduced, to around RM 700 mil. To me, these two are crucial in turning BJLand into a cash company (with at least RM 1 billion cash?). I prefer a dividend or if there's a privatization, a 0.38/0.30 conversion into BJCorp shares + a little bit of cash incentives, say 0.01 - 0.10 per share, to us minorities holding long period of time.

If have to guess if VT want to private BJLand, my best guess is NO. There's an opportunity to privatize BJLand when both BJCorp and VT have acquired more than 85% of BJLand while Bursa had disagreed to extend ownership beyond 85% if I were not wrong. Instead of putting out an offer, BJCorp had sold some BJLand shares at discount to reduce their ownership to less than 85%. But, hey, who knows? VT is difficult to predict.

How am I supposed to know?

If there's so much to be collected, why hasn't bjland announced any dividend?

JDC has been ceaselessly contacting landowners? Why?!? BJLand still want to pursue this project given landed project in Myanmar and Okinawa Four Season developent?

The reply is from Berjaya's Lydia. Don't know whether should email SC or BURSA for clarification. Guess will have to given I don't posses relevant knowledge.

Reply from BJLand investor relation

Apologies for the late reply.

Please find below the response to your queries.

With reference to the Kyoto Four Seasons disposal, may I know :

if the board has considered letting Four Seasons deal directly with the new owner instead of through an entity owned by BJCorp/BJLand? Is the arrangement in the proposal offer a better returns, current and future? If yes, what's the additional total return looks like?
Berjaya: The Purchaser has requested that Berjaya continues to deal with Four Seasons based on the good performance and track record as well as other projects with Four Seasons. Hence, the Proposed LeaseBack following the proposed disposal of the trust beneficial interest in the hotel component of Four Seasons Hotel & Residences Kyoto, Japan (“Hotel”).


(2) if BJLand's shareholders be required to attend a BJLand EGM for the said disposal like in the case for BJCorp?

Berjaya: Pursuant to Listing Requirements of Bursa Malaysia Securities Berhad, BLand is not required to make any announcement and BLand shareholders’ approval is not required for the proposed disposal of the Hotel. Nevertheless, BLand has voluntarily announced a summary of the proposed disposal to Bursa Securities for information purposes.



(3) if the management of BJLand too busy or finding BJLand minorities ignore-able to simply refer BJLand minorities to BJCorp's announcement? There's a section in the BJCorp's proposal that evaluate the effect of disposal on BJCorp's net asset, gearing and earning. There isn't any such disclosure on BJLand's. Are minorities of BJLand not entitled to know the disposal impact on BJLand's net asset, gearing and earning?

Berjaya: Any announcement made is in compliance with the Bursa Securities Listing Requirements. In this case, BLand is not required to make any announcement. Please refer to our reply under Q2 above.



(4) During 2018's AGM, I have requested Tan Sri Vincent Tan to consider a dividend given a recovered balance sheet of both BJCorp and BJLand, and I was told there'll be one for FY 2019. Unfortunately, there's any for FY 2019 despite asset disposal in Vietnam. When the issue of dividend was raised again during 2019's AGM, Tan Sri Vincent Tan promised me that a dividend shall be offered to minorities upon the disposal of Kyoto Four Seasons. However, reading through proposal, it's a huge disappointment realizing that there isn't any allocation for dividend. May I know if Tan Sri Vincent Tan is aware of this? If a decision has yet to be made, may I plead to both the board of directors of BJCorp and BJLand as well as majority shareholder, Tan Sri Vincent Tan, to honor Tan Sri's words during both AGMs?

Berjaya: The Executive Chairman of BCorp is also the major controlling shareholder of BCorp and he supports all dividend payout proposed by the Boards. The Boards of BCorp and BLand will do their best in the interest of their shareholders, in particular the shareholders’ requests for 2019/20 dividends. The Boards will look into the proposed dividend after taking into consideration the financial positions, performance and commitments of the BCorp and BLand group of companies.







Thank you and kind regards,
Lydia

Reply from BJLand investor relation

Apologies for the late reply.

Please find below the response to your queries.

With reference to the Kyoto Four Seasons disposal, may I know :

if the board has considered letting Four Seasons deal directly with the new owner instead of through an entity owned by BJCorp/BJLand? Is the arrangement in the proposal offer a better returns, current and future? If yes, what's the additional total return looks like?
Berjaya: The Purchaser has requested that Berjaya continues to deal with Four Seasons based on the good performance and track record as well as other projects with Four Seasons. Hence, the Proposed LeaseBack following the proposed disposal of the trust beneficial interest in the hotel component of Four Seasons Hotel & Residences Kyoto, Japan (“Hotel”).


(2) if BJLand's shareholders be required to attend a BJLand EGM for the said disposal like in the case for BJCorp?

Berjaya: Pursuant to Listing Requirements of Bursa Malaysia Securities Berhad, BLand is not required to make any announcement and BLand shareholders’ approval is not required for the proposed disposal of the Hotel. Nevertheless, BLand has voluntarily announced a summary of the proposed disposal to Bursa Securities for information purposes.



(3) if the management of BJLand too busy or finding BJLand minorities ignore-able to simply refer BJLand minorities to BJCorp's announcement? There's a section in the BJCorp's proposal that evaluate the effect of disposal on BJCorp's net asset, gearing and earning. There isn't any such disclosure on BJLand's. Are minorities of BJLand not entitled to know the disposal impact on BJLand's net asset, gearing and earning?

Berjaya: Any announcement made is in compliance with the Bursa Securities Listing Requirements. In this case, BLand is not required to make any announcement. Please refer to our reply under Q2 above.



(4) During 2018's AGM, I have requested Tan Sri Vincent Tan to consider a dividend given a recovered balance sheet of both BJCorp and BJLand, and I was told there'll be one for FY 2019. Unfortunately, there's any for FY 2019 despite asset disposal in Vietnam. When the issue of dividend was raised again during 2019's AGM, Tan Sri Vincent Tan promised me that a dividend shall be offered to minorities upon the disposal of Kyoto Four Seasons. However, reading through proposal, it's a huge disappointment realizing that there isn't any allocation for dividend. May I know if Tan Sri Vincent Tan is aware of this? If a decision has yet to be made, may I plead to both the board of directors of BJCorp and BJLand as well as majority shareholder, Tan Sri Vincent Tan, to honor Tan Sri's words during both AGMs?

Berjaya: The Executive Chairman of BCorp is also the major controlling shareholder of BCorp and he supports all dividend payout proposed by the Boards. The Boards of BCorp and BLand will do their best in the interest of their shareholders, in particular the shareholders’ requests for 2019/20 dividends. The Boards will look into the proposed dividend after taking into consideration the financial positions, performance and commitments of the BCorp and BLand group of companies.







Thank you and kind regards,
Lydia

OceanSky, the right issue amount is small, Kyoto Four Season is a 900 million disposal, way more than BJLand market cap...

Eddysurge, from your provided site,

The NET DEBT at about RM 2.23 billion has not excluded the 700 million net debt BJToto is carrying. If this amount is discounted, BJLand net debt is a mere RM 1.5 billion. And if Kyoto Four Seasons sale proceed is truly 900 million to BJLand, the net debt will be further reduced to RM 600 million.

What Is Berjaya Land Berhad’s Net Debt?

The image below, which you can click on for greater detail, shows that Berjaya Land Berhad had debt of RM2.91b at the end of June 2019, a reduction from RM3.25b over a year. However, because it has a cash reserve of RM680.1m, its net debt is less, at about RM2.23b.

of course, I am not asking VT to share 0.10 dividend with us, but at least something as he promised, 0.01 - 0.05 dividend will also be fine, so long he honor his words! Plus, be transparent...

freetospeak, there's no need share buy back to privatize BJLand, BJCorp needs only to issue more shares...

OceanSky, a 900 million disposal is significant, even if its just an associate company! BJLand has failed to provide a detailed analysis on the impact of this fund. Meanwhile, VT has mentioned dividend upon the disposal, yet, we minorities have heard nothing at BJLand level. BJLand has less than 750 million shares in public's hand. a 0.10 dividend cost BJCorp a mere 75 million, or 80 million since VT's holding is personal. If a majority shareholder won't even share 80 million given 900 million disposal, how on earth would minorities dare to invest? It's akin to throwing fish to crocodiles...

wantanmi, I am saying IF BJLand did really receive 900 million cash from the disposal, which BJ investor relation has failed to reply to me thus far. Besides from a liquidity concern, i.e. 85% been held by BJCorp and VT leaving the shares not desirable to many, BJLand has failed to provide sufficient transparency to assure minorities. Not to mention an Iceland deal that come out of noway, yet dare to say cheap, without putting minorities concern into consideration.

BJCorp debt is not as high as shown in balance sheet.

1. BJToto carries a net debt of over 700 million that's reflected into BJCorp's balance sheet.

2. BJLand also carries a net debt of over 2 billion, of which is BJToto's (BJLand's net debt would have been 1.6-1.7 billion if BJToto's excluded. If Kyoto Four Season is sold with cash transferred, and BJLand is really receiving 900 million (I have yet to see an announcement on BURSA,) BJLand's net debt is ONLY 700-800 million.

3. BJCorp's net debt is around 4.2 billion, but that includes BJToto and BJLand's. If they were excluded, BJCorp's net debt is around 1.8-1.9 billion. Should the proceed from Kyoto Four Season channeled back, BJCorp's net debt should be around 1 billion.

Question is: How much BJCorp and BJLand have received from the disposal.

While you guys are writing as if BJLand is to/or have received 900+ million from the disposal, have you seen BJLand making such announcement? Have you seen what BJLand is proposing on the new fund? Aren't you guys worry? Since March 03, I have yet to received any BURSA announcement or a reply from BJLand's investor relation...

hopefully, BURSA and SC have failed BJLand minorities not insisting on share swap be extended to minorities in the last Penta deal... Sorry for misunderstanding your intention.

can only hope for a share swap into BJCorp share soon at 0.38/0.30 exchange plus a little of cash if VT is generous enough, sigh!

ooh...

Alas, excluding BJCorp and VT's holding, there's less than 750 million shares of BJLand in the market. Not sure if Penta sold its stake, otherwise, being a VT close ally, Penta should still hold on to some BJLand shares. If VT genuinely care for his minority shareholders, a 0.10 per share dividend will offer huge support to share price yet will see minorities taking ONLY LESS THAN RM 75 million with the rest back to BJCorp and VT. So, whether there's some organization trying to achieve preset target, VT negligence about his minorities interests is the ONLY reason share price failed to be stable.