WCE expressway is promoting direct transit from Banting/Klang to Taiping and further move north to Penang as better route as compare to PLUS once it is fully completed.
However, the mission could only be successful upon completion of the Section 7, which just stuck at the middle of the whole expressway.
The present progress is of 59% only, and will take 1% progress at monthly basis.
Means the completion of whole expressway will be 41 months from now.
Any bullish news about it is not realistic for the full usage of this WCE expressway.

Except the good Q4 result due to the exceptional of the 40% disposal of Bandar Rimbayu for RM494 mil; the forthcoming 10 quarter results will be in the red.
Let us meet here again at 31-Dec-2025 to conclude the results together in 2.5 years.

WCE expressway is promoting direct transit from Banting/Klang to Taiping and further move north to Penang as better route as compare to PLUS once it is fully completed.
However, the mission could only be successful upon completion of the Section 7, which just stuck at the middle of the whole expressway.
The present progress is of 59% only, and will take 1% progress at monthly basis.
Means the completion of whole expressway will be 41 months from now.
Any bullish news about it is not realistic for the full usage of this WCE expressway.

Except the good Q4 result due to the exceptional of the 40% disposal of Bandar Rimbayu for RM494 mil; the forthcoming 10 quarter results will be in the red.
Let us meet here again at 31-Dec-2025 to conclude the results together in 2.5 years.

The recent share price drop of Bjfood, is due Ambank call-warrant B expires on 10/05. Not Ambank call warrant C which expires on 2 June.
As a result, the call warrant issuer only give 4sen premium to CB holder, as compare to price of 92 sen before suppress the mother share price at one week ago.

For WCE Section7 path:
Refer to WCE project update announced every month.
March-2022, 48%
June-2022, 51%
Sept 2022, 53%
Dec-2022, 55%
March 2023, 59%

From the update, every month progress is about 1%, with 41% work balance to go, this give direct assumption of 41 months to go, to complete by end 2026.
Oh my God.
This progress will be very much behind the planned completion.

The above findings have significantly suggest the criticalness of pushing the progress of Section 7 path, even with extra work hours and extra machineries to finish the work ahead of time.
If all could study the award to WCE construction (via it's announcement of receive work order by July 2021), the completion of Section 7 is by end of 2024. That makes the full access of this WCE is 1.5 years from now.

Beside the uncontrolled issues such as land acquisition etc, which was not been disclosed to public for clarity; the late commencement of Section 7 (about one year behind other 10 sections) is significantly impact on the full collection of revenue from this CWE.

I believe top management of WCE of even their major stake holder IJM would be also feel very upset about this "poor or worst" planning on the project critical path.

Refer Qr-3, 2023, Dec-2013;
The toll revenue is only RM11.6 million, annualize is of RM45.0 million, aa compare to finance cost of RM150.0 million, there is RM100mil gap to fill.

For WCE to get full toll fee, the section 7, which link between Kapar - Tg karang is the critical path, as travelers from Banting, Klang are willing to tap on it to have smooth drive to Taiping and joint PLUS to Penang onward.

If this link is missing, travel via trunk roads to reach Tg Karang will stop 50% of travelers, which will cut revenue by half.

The present paths opened by early 2024 will only offered two separate short distance (100km) each expressway to serve Selangor and Perak independently. With this model, anticipate the car flow could only receive half or even lesser.

Therefore, Section 7 completion is most important path, not just add on piece on the main dish.

Frankly, even with the fully run of the expressway, first few years it may still face losses due to high payment of capital + interest.
However, it is very good stock as expressway in middle to long term;
1. it have 50 years of concession tenure.
2. it cover the busiest path from Klang Valley to Taiping, which serve majority of the highway users.
3. From the distance run, it is 233km (WCE) vs 275km (PLUS) from Klang to Taiping, and bypass the hilly road around Ipoh, it shall attract more users than PLUS, once it is fully run.

Nevertheless, it will only be fully run, earliest on 2025, due to Section 7 path is the last puzzle to be completed.
As the Section 7 is in between Selangor path and Perak path, this missing link will discourage most users to take this path from Klang Valley to Taiping.

WCEHB price rising up too fast this few months toward the actual progress of the completion of the expressway.
The section 7 of the expressway, which presently only completed 59% shall only be completely finish ETA on End of 2024, which is 1.5 year from now.

As WCE also have disposal of it's 40% stake holding of Rimbayu Development on Dec-2022. This disposal means WCE will not have any other revenue and profit earning, beside their pending construction work of on WCE Expressway work.

Any status on the listing of SIAMH at S'pore ?

Any status on the listing of SIAMH at S'pore ?

If this is right, the coming result on BJC will be interesting, is it carry double of the BJL capacity on BKDS.
The return should be 210mil.

The 105.9mil dividend was came from an associate company of BJL group.

Among the many of associate companies, Berjaya Kyoto Development (S) Pte Ltd ("BKDS") is the only major enough to have such capacity for "Dividend distribution received in excess of its carrying value"

VT + Bjcorp own total 87.74% of Bj Land, as at 23/02/23.
Much higher above the 80% limit.

With such low price of Bj Land now, bulk selling is not likely anymore.
The best move is go for privatisation.
Only 12.26% to go.

Same as PBI, 88.26% owned, delist it shall be same good move like Bj Land, to ease the re-structuring of bringing HR Owen from BPI, to STM, to BjLand, to BjCorp.

Public spread announcement was made every 3 months, always about the quarterly report.

hi

As Bj Corp still hold 80.09% Bj Land, which it still hold 40% Sport Toto; this means Gaming sector still under Bj Corp, which got to be dispose off to meet the FSA requirement.
I will consider this could be the major restructuring coming fairy soon.

bj Corp holding of Bj Land of 80.09% still hanging there, slightly above 80%, to be disposed to meet the public spread requirement.
Or, go for delisting.
This round, the MGO got to include VT's 7% Bj Land.

There is no change of Bj Land share holding by Bj Corp of 80.09%.
Only VT has ceased to be the major share holding on all the subsidiaries via Bj Corp as his share holding in Bj Corp was below 20%.
This means VT personnel link through Bj Corp to own shares under Bj Corp has broken.
Bj Land, Bj Food, Sport Toto were immediately announced that VT's holding via Bj Corp's subsidairies were ceased.

Dear buddy,
as usually Q4 will come with impairment losses at year end result, unless the Q4 result is so strong, expected Q4 will still register as loss making.

@simon2020, yes.

Juara Sejati shall not be related to Redtones.
They are finance house direct under Bj Group.
Pg 291, Ann Report of Bj Corp

Presently VT have revert the game play, he dispose off the 140mil shares to "friendly party" or "Proxy Player".
with one more round of 140mil shares disposal, Bj Land will back to liquitable position.
Then MEGA plans could be in place immediately afterward.
As what have been happened on Bj Land, at 2008, after price boosted, only declares plenty of MEGA projects at oversea.

@roundcateye,
The criteria of MGO of the market float is of, 90% acceptance from the market retailers.
For Bj Land scenario, Bj Corp have to recover at least 90% of the balance 15% shares from the retailers; which means if 1.5% of retailer not accepting the offer, the MGO will fail.
1.5% of Bj Land is equal to 75 million shares, if any sizable player set the barrier, the MGO will hang.
Believe VT's Think Tank have study and brief VT that the chance to get MGO pass may not be very high.
Therefore, MGO does not take place till now.

Latest at 17-06-2022, VT still holds 1.542% + 81.186% = 82.728% of Bj Land shares.
Need to dispose at least 2.8% to meet the public spread barrier.
I believe this move is in the pipeline, as the hanging public spread on Bj Land have held back the retailers interests on Bj Land.
It is not good for Bj Land, and effect on Bj Corp too.

Circumstances by reason of which change has occurred Deemed interested by virtue of his interest in Berjaya Corporation Berhad, the ultimate holding company of Teras Mewah Sdn Bhd
- Disposal of shares via direct business transaction
Nature of interest Deemed Interest
Direct (units) 75,892,400
Direct (%) 1.542
Indirect/deemed interest (units) 3,994,770,372
Indirect/deemed interest (%) 81.186
Total no of securities after change 4,070,662,772
Date of notice 15 Jun 2022
Date notice received by Listed Issuer 17 Jun 2022

Remarks :
Indirect Shareholdings No. of shares
------------------------------ --------------------
1) Berjaya Group Berhad 105,786,400
2) Teras Mewah Sdn Bhd 969,288,914
3) Juara Sejati Sdn Bhd 1,399,360,850
4) Bizurai Bijak (M) Sdn Bhd 606,686,220
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 Sompo Insurance Berhad 35,771,580
10) Redtone Digital Berhad 2,000,000
---------------------
3,354,422,496
=============

Circumstances by reason of which change has occurred Deemed interested by virtue of its 100% equity interest in Berjaya Group Berhad, the holding company of Teras Mewah Sdn Bhd
- Disposal of shares via direct business transaction
Nature of interest Deemed Interest
Direct (units) 374,500,000
Direct (%) 7.611
Indirect/deemed interest (units) 3,354,422,496
Indirect/deemed interest (%) 68.172
Total no of securities after change 3,728,922,496
Date of notice 15 Jun 2022
Date notice received by Listed Issuer 17 Jun 2022

@simon2020, we shall always follow the announcement from Bursa;
or refer to Bj Land Portal , -> Investor Relations -> Bursa announcement, -> 5. Changes in shareholding.
There always give the first hand information on share changes.
I believe the screenshot from Simply Wall St. may have error, or only pick up partial of holding of Bj Land shres.

@simon2020, It is not as you thought, BjLand holds 34.6%, plus Bj Corp holds 16.4% (via other subsidiaries), total is 51.0%. Not 16.4% + 51.0% = 67.4%.

BjLand hold 34.6% SIAMH, as an associate company; however plus BjCorp other subsidiary holding shares up to 51%, made SIAMH become subsidiary company of BjCorp. Therefore, announcement made at Bj Corp instead of Bj Land.

Tunku Aminah was appointed as Non Independent and Non Executive.
Is this means the new major shareholder was surfaced on Bj Corp ?

Name
TUNKU TUN AMINAH BINTI SULTAN IBRAHIM ISMAIL
Age
36
Gender
Female
Nationality
Malaysia
Qualification
1. Others - - [La Salle School of Arts in Singapore]

Working Experience
Tunku Aminah has considerable experience in heading private organisations across a broad range of industries. Currently, Her Highness is the Chairperson of REDtone Digital Berhad, Berjaya Assets Berhad and Berjaya Waterfront Sdn Bhd. Her Highness also serves as a Director on the board of several other private companies, including REDtone Networks Sdn Bhd, Jauhari Maksima Sdn Bhd, Ikatan Jauhari Sdn Bhd and Ibzi Holdings Sdn Bhd. Her Highness also holds the Kentucky Fried Chicken (KFC) franchise in Stulang Laut, Johor Bahru. Tunku Aminah is also the current president of the Johor Darul Tazim Football Club (also known as JDT), a football club based in Johor Bahru.
Directorship of Public Companies
1) Berjaya Assets Berhad 2) REDtone Digital Berhad 3) Berjaya Capital Berhad 4) Berjaya Hartanah Berhad 5) Bukit Kiara Resort Berhad

Is the 140 mil shares translate, and part of strategic partner purchase?
Will the partner further buy another 140 mil?
Then will appear to be major share holder, >5%.
Will the new partner enjoy the windfall of disposal of 40% STM?
Interesting story to follow.

Another 140 million to sell, beside for Bj Land. Once Sport Toto was sold, debts will be settled.
New show is when the said sales is on.

From Q&A,


Jalil reckoned there were buyers on group subsidiaries, means it could be bj land.

However, Jalil opine the price offered was not to group favour, should be higher.



Still in negotiation process.
The deal will not affect the listing status.

No privatization in progress too.
Which means, bj land must found major buyer to take-over those shares to meet public spread.

The biggest challenge is on the selling price.

From Q&A,


Jalil reckoned there were buyers on group subsidiaries, means it could be bj land.

However, Jalil opine the price offered was not to group favour, should be higher.



Still in negotiation process.
The deal will not affect the listing status.

No privatization in progress too.
Which means, bj land must found major buyer to take-over those shares to meet public spread.

The biggest challenge is on the selling price.