I am BJCorp shareholder too, what's offered to Penta must be offered to minorities, and to compensate the delayed offer to minorities another 0.05 - 0.20 special dividend/compensation should be considered seriously. To those not willing for the exchange, probably a similar cash deal can be structured. Meanwhile, since BJCorp is so dirt cheap compared to its NTA, BJCorp can always buy back and have them cancelled.

Genuinely hope bjcorp and Bjland will together announce a 0.38/0.30 swap into bjcorp shares + 0.05-0.20 special dividend for bjland minorities...

its already a violation when VT kept on buying after crossing 85%, its so unbelievable!

cheap lying boss and board, what to do? Real thick skin VT, when asked about dividend this year during last AGM, I was told this year, only to end up with another disappointment, despite healthier balance sheet and operating cash flow...

err... just realize bjland trading around 13 year low...

err.... 13 year low?

generous? probably, BUT to a certain people ONLY, Penta and himself!

or any other good news that BJLand can't anticipate...

My guess, to avoid VT being fined from trading on material non-public information and tainting his name further, there's only one way to go, i.e., NO delisting but a good news from either Sungai Besi or Jeju court ruling doling out big bucks to BJLand.

err.... what joke is this? Board announced its intention NOT to privatize BJLand but VT just keep buying... Insider trading on material non-public information?!?

err... unless its VT's "master plan", I doubt there's anyone who dares to 'short' BJLand, given less than 15% is floating, and much less if Penta's BJLand is still held by Penta itself. If Penta has already sold its stake, this would strongly suggest BJCorp subsidizing Penta to dispose BJLand at premium. BURSA and SC would have clearly kept a "half-closed half opened" eyes on the deal if that's truly the case!

BJCorp does NOT own 85%, VT does! BJCorp owns less than 80% if I were not wrong...

It doesn't matter what's VT's "big" plan, what matter is the Penta's deal has BURSA and SC taking a "closed eyes" position that clearly putting minorities at disadvantaged position!

hmm... he said next year, not FY2019, so, hopefully some dividend will be declared before Dec?

well, I was told dividend will be declared FY2019 during FY2018 AGM by VT himself in front of attending shareholders, and I haven't seen a cent of dividend declared...

888stok888, well the board had just issued a TOTALLY different view, NO intention to delist currently!

err.... what are you guys talking about? Disposing a few million to a few 10 million worth of BJToto to restructure BJCorp or BJLand?

or SC...

IMO, unable to deliver business plan can be due to (1) poor management, (2) conman show or (3) plain bad luck... Its not BURSA role to protect minorities under (1) or (3). What BURSA can and should do is to lower the chances of (1) from listing on BURSA. AND it is BURSA ROLE to punish (2).

Its not BJCorp or VT at fault, the deal has to be passed by BURSA. Its BURSA's role to ensure fair treatment to all. Think if in a more developed market, BURSA would have been sued already!

if BJCorp refuses to offer MGO on the same term, BJCorp can't acquire Penta's shares. Of course, Penta can dispose at its own will in the open market or with a third party. The process is to ensure a fair treatment to all, not to assure the price won't collapse...

skyu, NO. What I meant is, BURSA shouldn't allow the Penta's deal to go through WITHOUT a MGO!

shortinvestor77, thanks. While the letter seems reassuring, its NOT at all. What Bursa should have DONE was to require a similar offer made to Penta be offered to minorities the last acquisition. Penta had only bought the shares from who know what weeks earlier, yet BJCorp offered to buy JUST enough to avoid 15% cap that would allow BURSA to approve the deal.

nonsense, BJLand disposed Vietnam hotel for more than 200 million, NO dividend declared.... This BJToto share sale is worth less than 7 million, and you expect dividend?!?

what joke is this?

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6284961

Name BERJAYA LAND BERHAD

Details of changes

No Date of change
No of securities
Type of Transaction Nature of Interest
1 12 Sep 2019
1,450,000
Disposed Deemed Interest
Name of registered holder Gateway Benefit Sdn Bhd
Address of registered holder Level 12 Berjaya Times Square No. 1 Jalan Imbi 55100 Kuala Lumpur
Description of "Others" Type of Transaction

2 13 Sep 2019
1,050,000
Disposed Deemed Interest
Name of registered holder Gateway Benefit Sdn Bhd
Address of registered holder Level 12 Berjaya Times Square No. 1 Jalan Imbi 55100 Kuala Lumpur
Description of "Others" Type of Transaction


Circumstances by reason of which change has occurred Deemed interested by virtue of its 100% equity interest in Gateway Benefit Sdn Bhd
- Disposals of shares in open market

hmm.... my comments on BURSA and SC's treatment on BJLAnd was 'deleted'...

and Singapore too

err.. It's my understanding China, Thailand, and Malaysia are in pretty good terms with the Myanmar government when it comes to business dealing.

Err... Probably just because NO fund manager is buying his 'new venture'...

I always look at debt in restructuring, and to me, bjcorp is in the process of restructuring. How to move forward with heavy belly?

BJCorp
Year G Debt Net Debt Net Debt ex listed sub
2015 6894.10 5296.32 2,919.21
2016 6852.18 4241.58 2,112.19
2017 6613.23 4867.01 1,906.30
2018 6019.47 4358.05 1,811.15
2019 5794.41 4195.77 1,981.21

BJLand
2015 4182.27 2377.11 2,112.32
2016 3792.41 2129.39 1,831.87
2017 3714.34 2960.71 2,204.73
2018 3420.79 2546.90 1,808.41
2019 2981.49 2214.56 1,516.10

BJToto
2015 695.00 264.80
2016 830.98 297.52
2017 1143.00 755.99
2018 1156.67 738.50
2019 1120.873 698.46

Note 1: amount in million
Note 2: G Debt - gross debt
Note 3: Net debt - after cash in hand and short-term investment are deducted
Note 4: Net Debt ex listed sub BJCorp - after net debt from BJLand is excluded
BJLand - after net debt from BJToto is excluded

Hopefully, BJLand share price will react positively coming Tuesday...

josephn, you must be joking, a 50% premium is still less than the offer Penta's getting but NOT OPPOSED by BURSA or SC...

PKM, a 'legal' white collar crime with Bursa and SC the helping hands!

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

NEW ISSUE OF SECURITIES (CHAPTER 6 OF LISTING REQUIREMENTS) : FUND RAISING PUNCAK NIAGA HOLDINGS BERHAD ("PUNCAK" OR "COMPANY") PROPOSED RENOUNCEABLE RIGHTS ISSUE OF CONVERTIBLE SECURED ISLAMIC DEBT SECURITIES

bettyem, it could just a 'paid recess' on shareholders fund...

So, my guess, not buying or selling a single share in BJLand would be the best option to us minorities...

simply hold on to your shares and vote NO if the deal to privatize BJLand is not good enough!

DON'T TRADE! If we minorities don't trade, there's nothing to be gain by BURSA, SC, or VT. VT will then be forced to privatize BJLand and treat his minorities better under his wing of listed companies!

JUST DON'T TRADE, VT macai sells and buy all they can. Except for paying brokerage fees, clearing fees, and tax, VT will get NOTHING, acquiring no shares and unloading no shares, ONLY SIOK SENDIRI!!! Bursa, SC and VT will only then realize minorities are F**King pissed off and not going to be fooled anymore!

sengsoon PART ５　：　 蓬山此去无多路，青鸟殷勤为探看 20190825

Fainted, total number of shares outstanding is 5 billion, 15% is equivalent to 750 million, NOT 75 million lah!

err... meaning 300,000 shares would be entitled to 780 square feet of space at a cost of less than RM 270,000. Would be great if those spaces are distributed then, haha... an apartment for RM 270,000 at prime area.

Leong1982, I have always been here and still holding on to my BJLand. There hasn't been any development in BJLand except VT buying under his 'own' account instead of BJCorp's and I believe its not a sign of privatization, at least to me. With so much complaints without Bursa and SC taking action, what else to say? Surely, a recovering price is good, but my aim has always been BJLand trading around 0.380/0.30 BJCorp price, or a privatization offer from BJCorp at least an equivalent to previous Penta's deal, i.e., 0.38/0.30 shares of BJCorp for every shares of BJLand. Of course, an extra cash incentive between 0.05-0.20 per share of BJLand held would show a minimum respect to BJLand shareholders.

Again, nothing to comment...

rogers123, there, bless VT with my middle fingers!

err... still here, nothing to say. I have raised my concern over the Penta's deal, VT buying BJLand using his own account, blah blah blah. There's nothing more to say except waiting to see what's VT next move.

you guys must be joking... distributing BJToto shares to all including minorities? Would be lucking enough to get a fair deal with a reference price and condition similar to the earlier Penta's deal.

best not to buy or sell, unless you are selling your BJCorp to buy, but best hope an exchange valuing BJLand higher will be offered soon...

shortinvestor77, thanks...

skyu, an earlier offer of exchanging BJLand into BJCorp shares was made to Penta at 0.38:0.30 exchange. I am asking for an additional 0.05 - 0.20 special dividend or compensation for holding longer...

I don't mind exchanging my bjland into bjcorp, but the whole exercise must be available to ALL, not just some related party. Sure would appreciate some cash, 5-20 cents per share, given an earlier offer is not extended to minorities...
09/08/2019 6:54 PM

Based on the most recent BJCorp holding of BJLand,

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6206029

Remarks :
Indirect Shareholdings No. of shares
------------------------------ --------------------
1) Berjaya Group Berhad 64,286,400
2) Teras Mewah Sdn Bhd 1,175,288,914
3) Juara Sejati Sdn Bhd 1,454,341,000
4) Bizurai Bijak (M) Sdn Bhd 654,486,220
5) Prime Credit Leasing Berhad 14,528,532
6) Inter-Pacific Capital Sdn Bhd 81,000,000
7) Inter-Pacific Securities Sdn Bhd 100,000,000
8) Rantau Embun Sdn Bhd 40,000,000
9) Berjaya Hills Resort Berhad 64,319,850
10) Berjaya Sompo Insurance Berhad 42,124,080
---------------------
3,690,374,996
=============

BJCorp will need to buy approximately 1.3 billion from others that includes VT. On top of that, the 42 million shares held by Berjaya Sompo Insurance is not wholly owned by BJCorp, so BJCorp will most likely need to buy 1.35 billion shares. If to be fully paid in cash, at 0.38, the cost will be RM 513 million and at 0.43, the cost will be RM 580 million. It will definitely NOT RM 322 million.

Don't think BJCorp has the money to privatize BJLand, unless its a mostly share-swap. Anyway, until BJCorp makes an announcement to take private BJLand, its difficult to guess what VT has in mind.