That could explain why VT is currently dumping BCorp ICULs/BCorp-LD like no tomorrow, rather than waiting for expiry in April 2022?
Gtrade bjcorp-LD is expiring 2022 expire. can convert to bjcorp share. Butt will not be redeemed by company. So need to to eat rescue big sharesholders

py1818 Tks for your daily bulletin.
Already reached 0.26 today. Still downtrend unable to break resistant 0.27. Will it test support 0.23 soon?

Better to lock in profit first. Think coming Qtr. result will be equally bad as not much income from biz with only fixed expenses. Many companies are fighting for survival, with current political instability, months of lockdown and still no end in sight with increasing Covid cases & death.

py1818 *
@earlyretirement
@sailang_now
@bulldog
BjCorp
Highest price 0.50
Resistant 0.39
Resistant 0.35
Major resistant 0.335
Major resistant 0.31
Resistant 0.29
Resistant 0.27
Price 0.26
Support 0.23
Verdict - A big UTURN has happened.

How to use buletin.
If price go below support, downtrend.
If price go above resistant, uptrend

Will it happens to BLand like BMedia if BCorp fails to obtain extension of time from SC to regularise BLand's public shareholding spread?
https://stocknews.my/posts/39253/berjaya-media-to-be-delisted-on-friday

py1818 Tks for your daily bulletin.
Already reached 0.265. Still downtrend unable to break resistant 0.27 will it test support 0.23 soon?

Better to lock in profit first. Think coming Qtr. result will be equally bad as not much income from biz with only fixed expenses. Already 3 months of lockdown and still no end in sight with increasing Covid cases & death.

py1818 *
@earlyretirement
@sailang_now
@bulldog
BjCorp
Highest price 0.50
Resistant 0.39
Resistant 0.35
Major resistant 0.335
Major resistant 0.31
Resistant 0.29
Resistant 0.27
Price 0.265
Support 0.23
Verdict - A big UTURN has happened.

How to use buletin.
If price go below support, downtrend.
If price go above resistant, uptrend

py1818 Tks for your daily bulletin.
Unable to break resistant 0.27 will it test support 0.23 soon as no more progress on restructuring plans? Looks like same script but only different actors!
https://www.klsescreener.com/v2/news/view/856173

py1818 *
@earlyretirement
@sailang_now
@bulldog
BjCorp
Highest price 0.50
Resistant 0.39
Resistant 0.35
Major resistant 0.335
Major resistant 0.31
Resistant 0.29
Resistant 0.27
Price 0.27
Support 0.23
Verdict - A big UTURN has happened.

How to use buletin.
If price go below support, downtrend.
If price go above resistant, uptrend

The only thing up is Covid cases, already pass 1 million and still climbing. MCO already entering 3rd month and BToto still cannot open...no cashflow from cashcow how to survive? PN Government is not stable and may collapse anytime. Survival & self interest is more important, who cares about tomorrow if already dead?

KUALA LUMPUR - Malaysia recorded 17,045 new Covid-19 cases on Sunday (July 25), setting a new record for the third consecutive day as the country surpassed one million cumulative cases since the pandemic started.

After recording more than 15,000 cases in each of the previous two days, Malaysia now has 1.013 million Covid-19 cases.

The Klang Valley region - consisting of Malaysia’s capital Kuala Lumpur and its most populous state Selangor - continued to contribute the bulk of infections, collectively recording more than 10,500 cases.

The northern state of Kedah set its own record high after it logged 1,216 cases. Penang too set a new record high of 573 cases.

Malaysia’s Covid-19 numbers have continued to soar, despite it entering a third month of movement restrictions that started in May.
https://www.straitstimes.com/asia/se-asia/malaysias-17045-new-covid-19-cases-bring-total-past-1m-infections-as-delta-spreads

"stockraider Do not be silly lah...u suppose to invest or hold bjcorp for longer term for upto 2 years or upto 5 years in view of the RNAV is rm 5.00 to Rm 10.00 and u not suppose to play chicken by trading Bjcorp mah!"

Since you say BCorp's share price will be rm5 to rm10 in future, why VT so silly to sell millions of ICULS which he subscribed at RM1 each in 2012, at 26 to 28.5 sens over these few month's even foregoing the 5% interest due in April 2022?

If VT is confident the mothershare price will be RM1 by April 2022, he should wait until maturity to sell at RM1 plus 5% interest when automatically converted to mothershare? Nobody will lose more than 70% of his principal even to loyal supporters or macai since VT is a well known miser?

https://www.thestar.com.my/business/business-news/2012/04/25/berjaya-corps-rm700m-iculs-warrants-to-trade-on-thursday

You only get 5% interest upon maturity of ICULS in April 2022 that is 10 months time. In between many unfavourable factors such mounting loses or bad economy will affect the final price & there is no guarantee the ICULS remains at 28.5 sens or lower? If your target is share price appreciation, it is better opportunity cost to buy mother share at 27sens rather than ICULS at 28.5 sens?

stockraider U buy ICULS get 5 sen interest extras, that is more than offset or compensate for bcorp mother share price difference mah!

Even a right thinking loyal supporter & Macai will think twice before buying the 5% ICULS which was sold at 28.5 sens & lose 1.5 sens when you can buy BCorp mother shares at 27 sens anytime? If you have bought the 1 million ICULS at 28.5 sens, you immediately lose RM15k. It's more towards VT's self interest rather sharing?

stockraider U THINK VT AS A GENEROUS BILLIONAIRES THINK LIKE US MEH ??

HE SELL THE ICULS & FOREGO THE 5% INTEREST, IN ORDER TO LET HIS LOYAL SUPPORTERS & MACAIS TO BENEFIT LOH...!!

ANYHOW VT...IS LOOKING AT BICORP & BLAND TO BE BEYOND RM 2.00, THUS HE DO NOT MIND GIVING OUT THE INTEREST OF RM 0.05 ADVANTAGE TO HIS LOYAL SUPPORTERS FOR THEM TO BENEFIT MAH!

THIS HOW KIND THIS ENTREPRENEUR VT, TREAT HIS STRONG & LOYAL SUPPORTERS LOH!

VT DO NOT WANT TO BE SELFISH & EAT ALONE MAH!

HE WANTS TO SHARE WITH ALL OF US LOH!

VT sold another 1 million of ICULS 5% on 21~22/7. To date he has sold millions of 5% ICULS in open market.
https://www.klsescreener.com/v2/announcements/view/3397767

The question is if BCorp share price will really increase significantly in future, why is VT selling his ICULS nonstop now and lose the 5% interest income? If he waits for the ICULS to mature next year, he gets the 5% interest income and capital appreciation when the ICULS automatically converts to mother share upon maturity?

py1818 Tks for your daily bulletin.
Still downtrend. Unable to break resistant 0.27 will it test support 0.23 soon as no more progress on restructuring plans? Looks like same script but only different actors!
https://www.klsescreener.com/v2/news/view/856173

py1818 *
@earlyretirement
@sailang_now
@bulldog
BjCorp
Highest price 0.50
Resistant 0.39
Resistant 0.35
Major resistant 0.335
Major resistant 0.31
Resistant 0.29
Resistant 0.27
Support 0.23
Verdict - A big UTURN has happened.

How to use buletin.
If price go below support, downtrend.
If price go above resistant, uptrend

Anything's cooking?

py1818 Tks for your daily bulletin.
Still downtrend. Unable to break resistant 0.27 will it test support 0.23 soon as no more progress on restructuring plans? Looks same script but only different actors!
https://www.klsescreener.com/v2/news/view/856173

py1818 *
@earlyretirement
@sailang_now
@bulldog
BjCorp
Highest price 0.50
Resistant 0.39
Resistant 0.35
Major resistant 0.335
Major resistant 0.31
Resistant 0.29
Resistant 0.27
Price 0.265
Support 0.23
Verdict - A big UTURN has happened.

How to use buletin.
If price go below support, downtrend.
If price go above resistant, uptrend

py1818 Tks for your daily bulletin.
Still downtrend. Already touched 0.265 earlier, will it test support 0.23 soon? Looks like the sword cuts both ways, BCorp Management needs to walk the talk, not dilly dally and be more serious in their restructuring plans.

py1818 *
@earlyretirement
@sailang_now
@bulldog
BjCorp
Highest price 0.50
Resistant 0.39
Resistant 0.35
Major resistant 0.335
Major resistant 0.31
Resistant 0.29
Resistant 0.27
Price 0.265
Support 0.23
Verdict - A big UTURN has happened.

How to use buletin.
If price go below support, downtrend.
If price go above resistant, uptrend

That should be the way and not impose your views over others. After all this what an investment forum is for, share knowledge & raise doubts for the benefits of the investing community.

ocbc everyone here to share his/her knowledge only, before u decide to buy & sell , do your own homeworks first lah. If still not sure , just don't invest. Don't blame here and there. : }

What benefit to minority shareholders? when the money from sale of assets is to pay of BCorp's RM5b mountain of debts? Sale of FS Kyoto for RM2b earlier is a good example, what happened to the money & what's the benefits to long suffering minority? As a Group CEO, Jalil should be talking on how to make profits & not only focus on reducing debts?

stockraider They want to benefit us the long time loyal supporters loh!

Remember Jalil mentioned;

Within 2 years assets monetization of Rm 2b

Within 5 years assets monetization of Rm 5b

The short termer cannot wait can go fly kite loh!

Then why Talk when cannot Walk if no money?

The public has spoken. Hope Jalil will not repeat VT 's mistake by dilly dallying further on the matter. Jalil should initiate Operation Speed Surge by getting the required board approvals asap!
https://www.klsescreener.com/v2/news/view/856173

py1818 Tks for your daily bulletin.
Still downtrend. Already touched 0.265 earlier, will it test support 0.23 soon? Looks like the sword cuts both ways, BCorp Management needs to walk the talk, not dilly dally and be more serious in their restructuring plans.

py1818 *
@earlyretirement
@sailang_now
@bulldog
BjCorp
Highest price 0.50
Resistant 0.39
Resistant 0.35
Major resistant 0.335
Major resistant 0.31
Resistant 0.29
Resistant 0.27
Price 0.265
Support 0.23
Verdict - A big UTURN has happened.

How to use buletin.
If price go below support, downtrend.
If price go above resistant, uptrend

Don't look good to cut cost by RM7 million per month due to bloated fixed costs? If the current Covid situation and economic lockdown last until middle of next year that will be minimum of RM84 million of cashflow lost by Berjaya. How to survive if only planning but no concrete actions for transformation?

生存比利润更重要
保护您的资金直到世界市场的影响消退，但要小心购买假黄金，因为您可能走错了路!

That's what we were thinking too. Anyway downtrend still intact and if 0.255 broken the next support is 0.23?

birkincollector Looks like 0.255 is the support

IdleMoney66 If so..why don't just privatisation...you can have all the fortune...

py1818 Tks for your daily bulletin.
Looks like still downtrend. Already touched 0.25 earlier, will it test support 0.23 soon with current political instability, high Covid nos. & possible extended EMCO?

py1818 *
@earlyretirement
@sailang_now
@bulldog
BjCorp
Highest price 0.50
Resistant 0.39
Resistant 0.35
Major resistant 0.335
Major resistant 0.31
Resistant 0.29
Resistant 0.27
Price 0.255
Support 0.23
Verdict - A big UTURN has happened.

How to use buletin.
If price go below support, downtrend.
If price go above resistant, uptrend

Covid cases a record breaking 11,079 today. Selangor alone already 5,263 cases. More lockdown coming & EMCO definitely extended. There goes the economy & Berjaya Biz?

Jalil needs to walk the talk to show he actually has the power to implement his plans and not being currently perceived by Market as VT's proxy.

A plan remains a plan until successfully implemented. Since they intend to sell BSompo & unwind crossholding of shares for cashflow there should be more weakness ahead with current political instability & EMCO. Btw Dimensional Fund & Sompo which has been selling lately still has 77 million shares to clear in open market?

py1818 Tks for your daily bulletin & confirmation of downtrend. There should be more weakness ahead with current political instability & EMCO. Btw Dimensional Fund & Sompo which has been selling lately still has 77 million shares to clear?

py1818 Tks for your daily bulletin.
Looks like still downtrend. Already touched 0.25 today, will it test support 0.23 soon with current political instability?

py1818 *
@earlyretirement
@sailang_now
@bulldog
BjCorp
Highest price 0.50
Resistant 0.39
Resistant 0.35
Major resistant 0.335
Major resistant 0.31
Resistant 0.29
Resistant 0.27
Price 0.255
Support 0.23
Verdict - A big UTURN has happened.

How to use buletin.
If price go below support, downtrend.
If price go above resistant, uptrend

py1818 Tks for your daily bulletin. Looks like still downtrend. Major support 0.27 already broken will probably test 0.23 soon?

py1818 *
@earlyretirement
@sailang_now
@bulldog
BjCorp
Highest price 0.50
Resistant 0.39
Resistant 0.35
Major resistant 0.335
Major resistant 0.31
Support 0.29
Major Support 0.27
Price 0.26
Support 0.23
Verdict - A big UTURN has happened.

How to use buletin.
If price go below support, downtrend.
If price go above resistant, uptrend

Who is BJLand & history..'
Berjaya Land Berhad ("B-Land") was incorporated in 1990 to implement the Restructuring Scheme undertaken by Sports Toto Malaysia Sdn Bhd ("Sports Toto") whereby the entire paid-up capital of Sports Toto was acquired by B-Land. Simultaneously, B-Land made major acquisitions of various property and leisure activities which were funded via a Rights and Special Issue.

Sport Toto was incorporated in 1969 by the Malaysian Government for the purpose of running Toto betting under Section 5 of the Pool Betting Act, 1967. It was privatised in 1985 when its Chief Executive Officer, Tan Sri Dato' Seri Vincent Tan Chee Yioun, through his private company acquired 70% of the paid-up capital. Sports Toto was listed on Bursa Malaysia Securities Berhad in July 1987.

Subsequently, in November 1987, RekaPacific Berhad (formerly known as Berjaya Industrial Berhad) ("RekaPacific") completed a general offer to Sports Toto which resulted in Sports Toto becoming a subsidiary of RekaPacific.

On 11 October 1996, Berjaya Group Berhad ("BGroup") completed the purchase of Teras Mewah Sdn Bhd ("TMSB"), a wholly-owned subsidiary company of RekaPacific. On 28 August 1996 TMSB completed the purchase of the entire shareholding in B-Land from RekaPacific comprising approximately 247.5 million ordinary shares, 49.8 million warrants and RM82.8 million Irredeemable Convertible Unsecured Loan Stocks for a total consideration of approximately RM931.1 million. As a result, B-Land became a direct subsidiary of BGroup which in turn is a wholly-owned subsidiary of Berjaya Corporation Berhad("BCorp").

Today, the Group's core activities are as follows:
Gaming and Lottery Management; (40% share in BToto)
Hotels, Resorts, Recreation Development and Vacation Timeshare;
Property Investment and Development; (Property Development & Landbank)
Motor Retailing (HR Owens)

Its a chicken & egg situation. Takeover BJLand & BJCorp fully controls 40% shares in BToto current held by BJLand worth RM1.1 billion but since it is controlling shares definitely worth more. This is not including its landbanks & assets worth another RM3~5 billion? Jalil's job to achieve RM1 before the ICULs & Warrants expires will be made easier. That's why VT redeemed 30 million ICULS yesterday when it carry 5% interest & it's market price is higher than mothershare?
Btw VT acquired 38.8 million direct shares in BJLand at 26 sens on 18 June.& another 41.5 million direct shares at 24 sens on 3 June.

Good observation. Hopes Jalil & the new Investors Relations team defends the current support at 27 sens for a trend reversal in July?

Analysis on Jalil's Plan by TheEdge reveals he will have to reveal his cards soon to excite Market players, but the hints are in the report. Guess selling BToto, merging BLand with BCorp & listing of Cosway using BLand market listing, monetize BLand's landbank and other assets and businesses could be some options available to halve the RM5 billion debts of BJCorp? The insights provided by Jalil's interview with China Press points to this direction?

Excepts of Interview with China Press

Jalil pointed out that the group will combine various plans, including the sale or reduction of shares in some subsidiaries, as well as the sale of assets to raise funds and reduce debt, and it will only be made public once there is a specific progress.

In some subsidiaries, we hold up to 100% of the shares. In fact, as long as we hold 51% of the shares, we can control the company's voice. Therefore, we may reduce our holdings by 30% or 40% to cash out. In addition, we will also consider taking out Sell ​​some assets and exit some businesses.

Change the business model
Under the epidemic, the consumer sector was the first to bear the brunt, but Berjaya Group announced its transformation into a consumer group at this moment.In this regard, Jalil pointed out that market consumer demand is always there, and only the problem of the business model has to be solved. He announced on June 15 a three-year (2021-2024) strategic plan for Berjaya Group, aiming to transform into a consumer kingdom with five core businesses.

During the interview, Jalil pointed out that even during the epidemic, people still need to consume.The demand for retail products and food will never change.What has changed is the way the business operates. Next, we will still open branches, but the number will be reduced. At the same time, the area of ​​the store will be reduced, and we will further develop the Drive thru business and change the original business concept. In fact, during the epidemic period, Berjaya's drive-to-speed business has performed very well in the past year and a half. We also added a Krispy Kreme drive thru on June 15.

https://www.chinapress.com.my/20210621/%e6%88%90%e5%8a%9f%e9%9b%86%e5%9b%a2ceo-%e5%98%89%e9%87%8c%e5%b0%94-%e4%bb%8e%e5%b9%95%e5%90%8e%e5%86%9b%e5%b8%88-%e6%91%87%e8%ba%ab%e6%8e%8c%e8%88%b5%e4%ba%ba/

The Youtube Link on Jalil China Press Interview
https://youtu.be/GdRbcLA6h7U

The Youtube Link on Jalil China Press Interview
https://youtu.be/GdRbcLA6h7U

Analysis on Jalil's Plan by TheEdge reveals he will have to reveal his cards soon to excite Market players, but the hints are in the report. Guess selling BToto, merging BLand with BCorp & listing of Cosway using BLand market listing, monetize BLand's landbank and other assets and businesses could be some options available to halve the RM5 billion debts of BJCorp? The insights provided by Jalil's interview with China Press points to this direction?

Excepts of Interview with China Press

Jalil pointed out that the group will combine various plans, including the sale or reduction of shares in some subsidiaries, as well as the sale of assets to raise funds and reduce debt, and it will only be made public once there is a specific progress.

In some subsidiaries, we hold up to 100% of the shares. In fact, as long as we hold 51% of the shares, we can control the company's voice. Therefore, we may reduce our holdings by 30% or 40% to cash out. In addition, we will also consider taking out Sell ​​some assets and exit some businesses.

Change the business model
Under the epidemic, the consumer sector was the first to bear the brunt, but Berjaya Group announced its transformation into a consumer group at this moment.In this regard, Jalil pointed out that market consumer demand is always there, and only the problem of the business model has to be solved. He announced on June 15 a three-year (2021-2024) strategic plan for Berjaya Group, aiming to transform into a consumer kingdom with five core businesses.

During the interview, Jalil pointed out that even during the epidemic, people still need to consume.The demand for retail products and food will never change.What has changed is the way the business operates. Next, we will still open branches, but the number will be reduced. At the same time, the area of ​​the store will be reduced, and we will further develop the Drive thru business and change the original business concept. In fact, during the epidemic period, Berjaya's drive-to-speed business has performed very well in the past year and a half. We also added a Krispy Kreme drive thru on June 15.
https://www.chinapress.com.my/20210621/%e6%88%90%e5%8a%9f%e9%9b%86%e5%9b%a2ceo-%e5%98%89%e9%87%8c%e5%b0%94-%e4%bb%8e%e5%b9%95%e5%90%8e%e5%86%9b%e5%b8%88-%e6%91%87%e8%ba%ab%e6%8e%8c%e8%88%b5%e4%ba%ba/

@shortinvestor77 Tks for sharing the mandarin version.
Analysis on Jalil's Plan by TheEdge reveals he will have to reveal his cards soon to excite Market players, but the hints are in the report. Guess selling BToto, merging BLand with BCorp & listing of Cosway using BLand market listing, monetize BLand's landbank and other assets and businesses could be some options available to halve the RM5 billion debts of BJCorp?
Refer link below.
https://www.klsescreener.com/v2/news/view/847555

@shortinvestor77 Tks for sharing the mandarin version.
Analysis on Jalil's Plan by TheEdge reveals he will have to reveal his cards soon to excite Market players, but the hints are in the report. Guess selling BToto, merging BLand with BCorp & listing of Cosway using BLand market listing, monetize BLand's landbank and other assets and businesses could be some options available to halve the RM5 billion debts of BJCorp?
Refer link below.
https://www.klsescreener.com/v2/news/view/847555

@shortinvestor77 Tks for sharing.
Analysis on Jalil's Plan by TheEdge reveals he will have to reveal his cards soon to excite Market players, but the hints are in the report. Guess selling BToto, merging BLand with BCorp & listing of Cosway using BLand market listing could be some options available?
Refer link below.
https://www.klsescreener.com/v2/news/view/847555

Tks for your note.
Btw here is a new analysis on Jalil's Plan from TheEdge. Guess he will have to reveal his cards soon to excite Market players, but the hints are in the report. Guess selling BToto, merging BLand with BCorp & listing of Cosway using BLand market listing could be some options available?
Refer link below.
https://www.klsescreener.com/v2/news/view/847555

py1818 Tks for your daily bulletin.
Let's see what's up tomorrow?

py1818 Tks for your daily bulletin.
Looks like still downtrend as unable to break resistance 0.29. Price 0.275 ~ 0.28, will it test major support 0.27?

py1818 *
@earlyretirement
@sailang_now
@bulldog
BjCorp
Highest price 0.50
Resistant 0.39
Resistant 0.35
Major resistant 0.335
Major resistant 0.31
Resistance 0.29
Major Support 0.27
Support 0.23
Verdict - A big UTURN has happened.

How to use buletin.
If price go below support, downtrend.
If price go above resistant, uptrend

py1818 Tks for your daily bulletin. Looks like still downtrend. Since support 0.29 already broken will probably test 0.27 soon?

py1818 *
@earlyretirement
@sailang_now
@bulldog
BjCorp
Highest price 0.50
Resistant 0.39
Resistant 0.35
Major resistant 0.335
Major resistant 0.31
Price 0.30
Support 0.29
Major Support 0.27
Support 0.23
Verdict - A big UTURN has happened.

How to use buletin.
If price go below support, downtrend.
If price go above resistant, uptrend

Let's hope Jalil reads this & not only sits in his Ivory Tower admiring the furniture & TRX...

miniminer The first 100 days "mercun" must be high and loud then follow up with actions or some achievements of low hanging fruit (Baju Batik not an achievement pls). Canceling BJLand privatization expectation, let the long pending share spread issue hanging for BJland without replacement hope lead the "mercun" hit below ground with disappointments, thus, the leader need to continue firing up and keep the show warm, else, "Once song end, people will disburse" ......hehehe.........................
17/06/2021 4:38 PM

Bettyem 扎里勒你听到人们唱歌了吗？
https://youtu.be/2_RjOJuwdq0

Price ding dong around 30 sens, for show to start must break & stays above major resistance first?

Major resistant 0.335
Major resistant 0.31
Price 0.30

py1818 Tks for your alerts.

py1818 *
@earlyretirement
@sailang_now
@bulldog

Just want to say this counter be careful. Buy volume 3 or 5 times bigger than sell volume. All fake buys which can be withdrawn easily. Purpose is to entice people to buy the small sell volume. Some operator is very active in this counter lately.
16/06/2021 9:51 PM

py1818 Something is wrong today. Buy volume is 5 times bigger than sell volume, yet graph shows price go down continously which shows nobody is buying.

py1818 Tks for your daily bulletin.

py1818 *
@earlyretirement
@sailang_now
@bulldog
BjCorp
Highest price 0.50
Resistant 0.39
Resistant 0.35
Major resistant 0.335
Major resistant 0.31
Price 0.30
Support 0.29
Major Support 0.27
Support 0.23
Verdict - A big UTURN has happened.

How to use buletin.
If price go below support, downtrend.
If price go above resistant, uptrend

This is where UK based merchant bankers New World Capital Advisors comes in. BJCorp paid almost RM1 billion to subscribe in 40% shares in NWC Malaysia in March this year. It could be in form of cash or shares? So far they have been suspiciously very quiet eventhough office located at Berjaya Times Square.

https://www.theedgemarkets.com/article/berjaya-corp-partners-new-world-capital-provide-ma-advisory-services

Protectcap Posted by cunoldfox > Jun 16, 2021 12:06 PM | Report Abuse

each selling block is very huge, not from retailer

That i puzzle as well who is the buyers? Since no fund manager interest VT counters, is it VT proxy??

If too high level somebody has just simplified the impact of Jalil's Transformation Plan for benefit of everyone...

*BJCORP at 33.5sen*

- Bjcorp just announced its detailed restructuring plan, with key headlines figures such as RM2b divestment within 2 years, RM5b divestment within 5 years, paring 50% of borrowings/debts within 3 years.

- Operationally, Bjcorp has more than 20 types of businesses brands including lottery (Bjtoto), hotels & malls( Four seasons, ritz carlton, Berjaya time square, >10 berjaya brand hotels in Malaysia & overseas), brokerages & insurance(Interpac securities, Saigon bank, Berjaya Sompo), retail & food(Cosway, 7-eleven, starbucks, jollibean, kripy kreme), property development(Bjland), telco (redtone, u-mobile) and education (Berjaya college).

- The operations is too diversified and messy before this as it is not easy to manage such many subsidiaries. This have caused Bjcorp to trade at steep discount of its book value and been generating losses.

- Nevertheless, with Jalil coming into the board, we can see that Bjcorp’s plan is to streamline the whole business model to be more organised and unlock plenty of value within its assets. With the planned divestment of non-core assets by selling off unprofitable businesses, this can clean up the balance sheet and there are good potential to turnaround the business.

- Financially, Berjaya Corp currently has about RM1.2b cash and RM5b debt. Divestment of RM2b assets within 2 years (+40sen/share) and RM5b within 5 years(RM1/share) will largely strengthen the cash position and paring down debts. If everything is in line with the restructuring plan, Bjcorp potentially turn into net cash company within few years after clearing all loss-making operations.

- With the restructuring plan ongoing and Bjcorp turn into profit, this will also unlock the value of other core business which was previously discounted. There are plenty of value in the group’s subsidiaries; such as U-mobile(talks of going IPO), Bjtoto(defensive and churning good profit), 7-eleven, landbanks in Bjland (worth more than RM5-6b estimated) and many others which are yet to be factored in.

- To give a sense, Bjcorp now trading at only about 0.3x book value(a 70% discount to true value). If we strip out Bjcorp’s stake in Bjland and Bjtoto, its only 0.2x book value (a 80% discount). The conglomerate’s NTA is at RM1.18(excluding accretion from unlocking various busineses’ value), while current share price only 33sen. This means that there is a potential >400% share price upside if everything goes well for them.

- From TA perspective, Bjcorp attempts to rally from recent selldown(with low volume). It breakout and stay above near-term resistance of 32.5sen which is deemed healthy. Subsequent resistances are at 38.5sen and 46.5sen respectively.

Disclaimer: This is not a Buy/Sell call or any recommendations, just personal analysis. Do trade at your own risk.

Currently all Berjaya companies has a cross holding ownership structure which needs to be addressed & unwound to attract more institutional holders from current 6%. So expect more trimming of non direct interest shares sales from various VT companies from time to time. As long as the direct interest controlling shares are not sold & tightly held by major shareholders & market can absorb the excess shares there shouldn't be major issues unlike the current sell down of Serba Dinamik.

Excerpt of Transformation Plan by Jalil.
Compliance and Governance - addressing the cross-holding ownership structure (current trimming of non direct interest through sale of shares by various non core business VT companies)

Currently all Berjaya companies has a cross holding ownership structure which needs to be addressed & unwound to attract more institutional holders from current 6%. So expect more trimming of non direct interest shares sales from various VT companies from time to time. As long as the direct interest controlling shares are not sold & tightly held by major shareholders & market can absorb the excess shares there shouldn't be major issues unlike the current sell down of Serba Dinamik.

Excerpt of Transformation Plan by Jalil.
Compliance and Governance - addressing the cross-holding ownership structure (current trimming of non direct interest through sale of shares by various non core business VT companies)

*BJCORP at 33.5sen*

- Bjcorp just announced its detailed restructuring plan, with key headlines figures such as RM2b divestment within 2 years, RM5b divestment within 5 years, paring 50% of borrowings/debts within 3 years.

- Operationally, Bjcorp has more than 20 types of businesses brands including lottery (Bjtoto), hotels & malls( Four seasons, ritz carlton, Berjaya time square, >10 berjaya brand hotels in Malaysia & overseas), brokerages & insurance(Interpac securities, Saigon bank, Berjaya Sompo), retail & food(Cosway, 7-eleven, starbucks, jollibean, kripy kreme), property development(Bjland), telco (redtone, u-mobile) and education (Berjaya college).

- The operations is too diversified and messy before this as it is not easy to manage such many subsidiaries. This have caused Bjcorp to trade at steep discount of its book value and been generating losses.

- Nevertheless, with Jalil coming into the board, we can see that Bjcorp’s plan is to streamline the whole business model to be more organised and unlock plenty of value within its assets. With the planned divestment of non-core assets by selling off unprofitable businesses, this can clean up the balance sheet and there are good potential to turnaround the business.

- Financially, Berjaya Corp currently has about RM1.2b cash and RM5b debt. Divestment of RM2b assets within 2 years (+40sen/share) and RM5b within 5 years(RM1/share) will largely strengthen the cash position and paring down debts. If everything is in line with the restructuring plan, Bjcorp potentially turn into net cash company within few years after clearing all loss-making operations.

- With the restructuring plan ongoing and Bjcorp turn into profit, this will also unlock the value of other core business which was previously discounted. There are plenty of value in the group’s subsidiaries; such as U-mobile(talks of going IPO), Bjtoto(defensive and churning good profit), 7-eleven, landbanks in Bjland (worth more than RM5-6b estimated) and many others which are yet to be factored in.

- To give a sense, Bjcorp now trading at only about 0.3x book value(a 70% discount to true value). If we strip out Bjcorp’s stake in Bjland and Bjtoto, its only 0.2x book value (a 80% discount). The conglomerate’s NTA is at RM1.18(excluding accretion from unlocking various busineses’ value), while current share price only 33sen. This means that there is a potential >400% share price upside if everything goes well for them.

- From TA perspective, Bjcorp attempts to rally from recent selldown(with low volume). It breakout and stay above near-term resistance of 32.5sen which is deemed healthy. Subsequent resistances are at 38.5sen and 46.5sen respectively.

Disclaimer: This is not a Buy/Sell call or any recommendations, just personal analysis. Do trade at your own risk.