VT ownership in BJLand

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6087369

Direct (units) 69,150,400
Direct (%) 1.386
Indirect/deemed interest (units) 4,156,086,872
Indirect/deemed interest (%) 83.298
Total no of securities after change 4,225,237,272

Remarks :
Indirect Shareholdings No. of shares
------------------------------ --------------------
1) Berjaya Corporation Berhad 191,564,000
2) Teras Mewah Sdn Bhd 1,214,144,984
3) Juara Sejati Sdn Bhd 1,471,691,000
4) Bizurai Bijak (M) Sdn Bhd 659,100,000
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 Group Berhad 64,286,400
10) Berjaya Sompo Insurance Berhad 42,124,080
11) Desiran Unggul Sdn Bhd 224,000
12) Hotel Resort Enterprise Sdn Bhd 56,600,000
13) Berjaya Times Square Sdn Bhd 55,881,000
14) Berjaya Bright Sdn Bhd 88,083,000
(Formerly known as Sublime Cartel Sdn Bhd)
15) B & B Enterprise Sdn Bhd 768,700
16) Berjaya VTCY Sdn Bhd 59,891,176
17) MOL.com Sdn Bhd 2,200,000
18) Berjaya Retail Sdn Bhd 14,000,000
----------------------
4,156,086,872

BJCorp ownership in BJLand

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6087357

Direct (units) 191,564,000
Direct (%) 3.839
Indirect/deemed interest (units) 3,686,874,996
Indirect/deemed interest (%) 73.894
Total no of securities after change 3,878,438,996


Remarks :
Indirect Shareholdings No. of shares
------------------------------ --------------------
1) Berjaya Group Berhad 64,286,400
2) Teras Mewah Sdn Bhd 1,214,144,984
3) Juara Sejati Sdn Bhd 1,471,691,000
4) Bizurai Bijak (M) Sdn Bhd 659,100,000
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 Sompo Insurance Berhad 42,124,080
---------------------
3,686,874,996
=============

Bursa and SC have kept quite allowing the BJLand conversion of late, there's no more issue with shareholding spread concern right now. It will be only if VT decide to buy more...

all could also possibly due to liar-mentality and crappy management drives away fund managers, resulting in VT having to buy himself or through his associated companies...

It seems to me there's no fund interested to buy VT'shares for some reason right now. So, only option left is to have he himself or related companies buying...

VT can brag about future potential. However, if there's no earning reports that reflect these or dividends after asset disposal, what good is his words? Guess its equivalent to nothing but garbage.

Thanks for the trust...

Annetan, there are many reasons why Bjcorp raising interests in bjland. It's not a problem if the offer is extended to other minorities. It's a problem when an offer is only doled out to a particular party who had just acquired those stakes days before. What's worse, a deal that pushed public shareholding spread to 85% while bursa and SC are silent with no public announcement on the why! Even worse, the party involved sold his stakes to another party his 'converted' shares without any SC and Bursa investigation!!!

Oceansky, once below 5% ownership, there's no need to disclose sales or purchases, unless crossing over 5% again...

oceansky, if I were not wrong, BJLand owns a bank in Vietnam through JV...

I earlier thought the Vietnamese subsidiary to be sold refers to the hotel just sold recently. Having read this article, I think it could be the bank they're going to let go...

Err... probably because VT initiated a press conference telling Malaysians what he wants but none of his board members aware? Probably he said wanting to sell Kyoto four season but Okinawa four season is the one actually signed? Probably Penta can get special treatment to have his recently bought bjland exchanged into bjcorp at 0.38/0.30 that none of his other minorities is offered? Probably because penta sold or give his bjcorp shares to UBS right after his bjland shares exchanged into bjcorp shares?

LOL, who knows, this is boleh land. The most important thing is bursa already slapped us minorities hard not requiring an offer to the rest of us... and we should not forget that as a lesson investing in the future in bursa.

Gangnam, penta has over 7%, but sold to bjcorp only 4+% and yet Bursa approved it. If all sold to bjcorp, bursa will still accept 13% shareholding spread? I guess yes, given the 15% is a big joke. My broker already enlist bjland as non-marginable stock when spread is 20%,while bursa ok 15%?!? That's a big joke...

Gangnam, it's never a worry to majority shareholders piloting the listed companies if the share price is 5-10% of it's NA. Only when its cash flow is in trouble while debt is high is a major concern...

Profit announced has nothing to do with dividend. Dividend only affects cash flow

It's difficult to expect bjland showing profit when it's biggest contributor is bjtoto and yet it's having an additional 1.6 billion debt. Until bjland collects billion from asset disposal or through court ruling, there's nothing much to see. Given completion of Vietnam hotel disposal, next quarter shall be better.

I thought bjland will trade between 0.35-.42 to reflect the 0.37/.3 exchange offer. With bjland now at 0.285, real worry VT not offering much to us minorities... almost want to email the management, but too upset to write one, sigh!

claiming USD 350 million, that's approximately RM1.4 billion? I thought BJLand intends to collect a few billion RM in relation to the Jeju case?

its difficult not to wonder... VT said one thing, and the opposite can happen. Take for an example, VT mentioned about taking private BJLand and 7-11 end of last year in public only to be refuted by his board of directors. VT mentioned about selling Kyoto Four Season ended up with signing Okinawa Four Season. Penta bought(?) over 7% of BJLand only to convert less than 5% that's later sold(?) to UBS after exchanged into BJCorp shares.

OceanSky, are you referring to the following two news? The second refer to UBS? Why the need for Penta to act on behalf of them? Why can't they deal directly with them? Wonder...

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6043613

Date interest acquired 18 Jan 2019
No of securities 101,584,632
Circumstances by reason of which Securities Holder has interest Direct Business Transactions from Macquarie Bank Limited Hong Kong Branch. Penta Investment Advisers Ltd is adviser to the fund.

Nature of interest Direct Interest

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6051545

No Date of change
No of securities
Type of Transaction Nature of Interest
1 23 Jan 2019
45,415,369
Acquired Direct Interest
Name of registered holder PENTA MASTER FUND LTD
Address of registered holder Craigmuir Chambers, Road Town Tortola, BVI

Err.. how did you know it's UBS shares? You have insider info? Why can't UBS deal directly with bjcorp and needs penta as middleman?

Alas, think rules already broken, whether SC and Bursa approve them or not. Rules is not something like you can massage behind or believing something brewing soon. Minorities are definitely screwed by VT and/or penta+whoever.

So, basically, Penta buy 'quick quick' BJLand from 'someone' only to exchange it at a much higher ratio (0.38/0.30) in exchange for BJCorp shares that it then 'quick quick' sold to someone else. Bursa is allowing it and SC is keeping eyes closed?!? Nobody investigate who's those someone and their relation?


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

Name PENTA INVESTMENT ADVISERS LTD
Address Craigmuir Chambers
Road Town Tortola
BVI
Virgin Islands, British.
Company No. 275975
Nationality/Country of incorporation Virgin Islands, British
Descriptions (Class) Ordinary Shares

Date of cessation 08 Mar 2019
Name & address of registered holder Penta Asia Long/Short Fund Ltd, Craigmuir Chambers, Road Town Tortola, BVI
- Disposed 52,257,385 shares

With the completed Vietnam hotel, Bjland, excluding bjtoto's net debt, is only left with 1.1 billion net debt... unfortunately, market has so little faith in VT that share price will not respond.

先学习同情投资他的小股东吧，现在有些虚伪作假。。。

Theoretically, yes, minority shareholders should consider selling bjcorp shares to buy bjland shares, a no brainer. With VT, though, it can a disaster... my personal opinion

Penta deal is telling me two things, VT is shrewd but VERY low class and dogs (or is it just rabbits, and we Chinese just enjoy throwing everything at dogs?) will keep eating shit, no matter what...

VT owns BURSA? Didn't BURSA realize Penta owns another 166 million shares?!? BURSA or BURSA CLOWN?

http://www.bursamalaysia.com/market/listed-companies/company-announcements/6087465

With reference to Berjaya Land Berhad’s (“BLand”) announcement made on 20 December 2018, the Board of Directors of BLand now wishes to announce that following the completion of the acquisition of 230 million ordinary shares representing 4.61% equity interest in BLand by Juara Sejati Sdn Bhd, a subsidiary of Berjaya Corporation Berhad on 5 March 2019, the public shareholding spread (“Public Spread”) of BLand was reduced accordingly from 19.67% as earlier announced to 15.06%.

In addition, the Board of Directors of BLand wishes to announce that Bursa Malaysia Securities Berhad (“Bursa Securities”) has approved BLand’s application for acceptance of a lower Public Spread of 15% in compliance with Paragraph 8.02(1) of the Main Market Listing Requirements of Bursa Securities (“Approved Public Spread”).

Pursuant to the Approved Public Spread, BLand is required to notify Bursa Securities immediately, if in conjunction with the preparation of its semi-annual returns and/or when it becomes aware of the following:-
1.any decrease in issued share capital of BLand; and
2.any decrease in the percentage of Public Spread below 15%.

Based on the above, BLand has complied with the Approved Public Spread.

This Announcement is dated 5 March 2019.
05/03/2019 20:27

While Oriental cash and equivalent is approximately 4.4 billion, it does have borrowing, short- and long-term, totalling 1.9 billion. So, Oriental's net cash and equivalent is only 2.5 billion, still a very sizeable number, that's equivalent to approximately 4.00 per share!

Not likely, if it's Penta selling, it needs to be disclosed...

Lim Ha, I insist on at least an alternative to convert BJLand shares to BJCorp shares at 0.38/0.30 because Penta is receiving that offer. So long our BJLand shares are exchange at premium to BJCorp and we hold on to our converted shares, we will have a chance to recover from our investment in BJLand when BJCorp is trading above 0.30. It's difficult to expect 0.60-0.80 offer price now. I kind of hope that a dividend of 0.10 is declared before an 0.38/0.30 exchange offer, with the special dividend an offer to us holding on while the exchanged shares offer a chance of profitability after BJCorp is able to recoup its Toto business in Vietnam and property investment in Jeju, China, and Sungai Besi..

Completed the disposal of Vietnam hotel with money received. A relatively good news given dispute with China buyer still going on...


http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=92929&name=EA_GA_ATTACHMENTS

unless the offered price is at least 5% higher than 0.38/0.30 x BJCorp share price, BURSA and SC might as well fire all staff to save the cost of listing!

i don't care, VT has to make an offer to BJLand minorities a privatization deal that include an option of 0.38/0.30 exchange for BJCorp shares like what he had offered Penta! AND SOON!

leek, VT has to extend the offer to Penta to the rest of BJLand shareholders, whether we want it or not! And it is Bursa and SC duty to make sure all minorities are treated equally.

Is investing community slapping VT on his face OR is VT slapping investing community? If its VT having the fun, Bursa and SC are offering a helping hand by keeping quiet and not putting any requirement over the BJLand to BJCorp share exchange...

Is investing community slapping VT on his face OR is VT slapping investing community? If its VT having the fun, Bursa and SC are offering a helping hand by keeping quiet and not putting any requirement over the BJLand to BJCorp share exchange...

There's approximately 600 million floating shares, 6 million traded shares is ONLY 1%

leek, VT privatized Berjaya Retail only to list it at a MUCH higher valuation through 7-11. VT privatized BR using his pocket money while its listed when its a subsidiary of BJCorp, meaning BJCorp selling cheap to VT!

leek, you must be dreaming. The most recent deal has suggested the most likely scenario is:

1) a cash 0.38 per share
OR
2) an exchange based on 0.38/0.30 ratio, approximately 1.267 BJCorp shares for each BJLand share

Only if they have insider information or they're idiots?

Bursa allowing the issuance of new shares to buy bjland with no string attached? LOL

I don't want 0.60, I want the 0.38/0.30 ratio to exchange for BJCorp shares!

well, if Penta buying higher than 0.38 from others, only to sell to BJCorp at 0.38 valuation when Penta is sitting on BJLand's board (or, is it BJCorp?!?) There is nothing wrong in this?

think there is a need for SC to investigate Penta's purchase price and source of fund to alleviate BJLand minority shareholders' concern. In addition, the BJLand shares for BJCorp shares offer shall be extended to the rest of BJLand shareholders.

the deal could be illegal because
(1) Penta direct business deal to purchase from others could actually be higher than 0.38 per share

otherwise, why the need for Penta to purchase from others first. The deal is completed within a few weeks. BJCorp could have offered to those buyers. WHY only Penta, and this is not the first time!

(2) BJCorp is ONLY buying 4+% from Penta when BJLand is already suffering from required free floating share issue. If the deal is genuine, BJCorp offer should be extended to purchase all from not just Penta, but other minorities as well

think penta and bjcorp acts are considered illegal...

hmm.... another interesting observation, Penta is holding 396 million shares of BJLand, which is 7.94%. Meanwhile, BJCorp is only offering to "buy" 230 million shares from Penta.

its quite obvious Penta is either acting on behalf of VT or an extremely close ally of VT...

I will complain unless VT comes out to explain! This is absurd, Penta only bought a few days back and its received an 'offer' from BJCorp.