Posted by hng33 > 2014-11-05 22:08 | Report Abuse

pang123, Nancy Tang

Good question on why Bjcorp trading at current share price 49sen !!?? and bjcorp weakness have continue downtrend since 2010........perhaps, to answer your question, lets link BJcorp earning in past 4 year to its share price performance to solidify our observation. Generally, share price weakness is link to their weaker in earning.

Jun 2014 EPS= -2.88sen; 48sen
Jun 2013 EPS = 1.89sen; 62sen
June 2012 EPS = 6.87sen; 80sen
June 2011 EPS = 7.96sen; RM 1.20

From the above, clearly know that bjcorp posted gradual weaker earning with the worse negative result record for financial ending Apr 2014. Thus, it could partly explain reason bjcorp current share trend, slumping from high RM 1.20 in last 4 year ago to current 49sen. It is despite index at current record high.

However, with the completion of Berjaya startbuck to be wholly own now + disposal of land (tripe impact: 1. pare down borrowing, reduce gearing = reduce interest cost 2. realize investment gain, increase further NTA 3. monetize assets to increase free cash level) + continuous improvement in BjAuto profi margin due to weaker in Yen, it is assure that Bjcorp next financial year ending Apr 2015 is expect to be good.

Posted by calvintaneng > 2014-11-05 22:10 | Report Abuse

Yes OSK Iskandar Remisiers said that most counters of VT have already run up except BJ Corp. They noted that Price has Been Strongly Supported 3 times. All between 46 cents to 48 cents.

They expect VT to goreng it up before April 2015 when GST is announced. So even Remisiers are buying with their own money.

Of course this is their expectation about "Goreng"

As for me I am not so interested in "goreng" but Its Strong Underlying Fundamental

Posted by kahhoeng > 2014-11-05 22:10 | Report Abuse

haha... I thought it would go straight to at least 82

Posted by Alpha Trader > 2014-11-05 22:12 | Report Abuse

Calvin need someone to goreng BJCORP, while fundamental stocks like IFCA do not need at all! stop coming to ifca forum and shame yourself!

Posted by stevejab > 2014-11-05 22:13 | Report Abuse

dow futures up another 100 now some us analyst says dow might go up to 20k kikikikiki

Posted by hng33 > 2014-11-05 22:23 | Report Abuse

kahhoeng

I think based on historical Bjcorp earning and share price relationship, if bjcorp can post EPS > 2sen for financial ending Apr 2015, then it is safely can expect share price can hit 68sen.

Posted by calvintaneng > 2014-11-05 22:24 | Report Abuse

People are looking at BJ Corp "poor earnings". Why am I so bullish inspite of so little "visible earnings"?

You see, I know of a Property Investor in Iskandar. He owned 20 houses. All bought within the last 10 years in Iskandar when prices were going cheap.

Some of the Landed Semi Detached Houses he bought are tenanted out for RM1,000 to RM1,200.

He bought them for RM200,000 to RM250,000 each. His monthly installment is between RM1,500 to RM2,000.

So his rental income could hardly cover his monthly installments.

So just like BJ Corp he has lousy cash flow. His income on the surface is "deplorable"

But wait a minute. Look at the property he bought for a song in Iskandar

1) One Corner Semi Detached House bought for RM260,000 has been offered by ready buyers for RM920,000. He is still not selling

2) A Semi Detached House rented to Old Folks Home for RM1,000 per month.

Cost of Purchase RM95,000. Now worth over RM300,000 after 2 years. Monthly installment is RM970. So he only get RM30 surplus a month.

Just these 2 properties will show you that he has already made a cool milliom RM from these 2 of the 20 properties.

Since he is keeping quiet & not selling. With llittle Cash Flow to Show many thought he is in trouble.

The truth is. He is getting richer & richer quietly every day in Booming Iskandar.

This is How I view BJ Corp as well

Posted by Cyborg > 2014-11-05 23:18 | Report Abuse

Sorry to say this.... many international company with BILLION asset also fall to bankruptcy, lets look at 1 example, case study of American Airlines.They had $24.7 billion in assets at the time of its bankruptcy.

i too lazy too explain many other similar case... company with HUGE BILLION asset... the point is business prospect and development more important compare to asset.

Posted by Cyborg > 2014-11-05 23:25 | Report Abuse

Sorry to say this also, gaming sector also in huge declining... look at super market china the industry also declining...

Nowadays, people more educated and shift to modern thinking, many campaign out there against gambling as it bring no good.

Moreover, all around the world start to fight corruption. So this also impact to gaming sector as the corrupter cant bring money to casino.

Posted by calvintaneng > 2014-11-06 00:43 | Report Abuse

American Airlines with $24.7 billions assets? 620 rusty aging planes 15 years old?

Scrap value maybe?

BJ Corp has REAL APPRECIATING ASSETS IN PRIME AREA LIKE BERJAYA TIMES SQUARE, BATU PAHAT TOWN AREA, BERJAYA HILLS (Just After Genting Highlands) Berjaya Jeju Resort (Korea), Okinawa (Japan) & Other Highly Desirable Assets in Super Prime Location

Posted by faralenz77 > 2014-11-06 07:19 | Report Abuse

But the bjcorp price is 1/2c up 1c down. Wat's the use

Posted by cfoong > 2014-11-06 08:18 | Report Abuse

I agree with Calvin view on the hidden values of the BJcorp properties..whc they hav accumulated since long time ago... but it is still pending from the revaluation process like those REIT counters doing... Hope tht with the new accounting rules coming in future... we will see the true intrinsic values of BJCorp proporties values...

Posted by hng33 > 2014-11-06 08:57 | Report Abuse

Cyborg
Bjcorp huge tract of landbank in Batu Pahat will be primarily beneficial for upcoming High speed train link KL-Sing, one the station is in Batu Pahat. JB properties boom will transfer to Batu Pahat as people working in Singapore can conveniently travel with improved infrastructure. JB-BP is akin to KL-Seremban. Company assets with landbank/properties backing appreciate over time compared with company with assets with machinery/factory which is depreciate value over time.

cfoong
The problem is vacant landbank can't revalue to market price, unless it is develop into properties, even then, it still subject to management willingness to revalue these properties regulalry. This is because, revaluation incur cost, REITS keen to revalue their assets holding due to REITS rules

Posted by tt101 > 2014-11-06 08:59 | Report Abuse

We should classified those property as investment assets and not operating asset.

Some company have huge asset and this asset is needed in their operating just like the plane in airline company. Those asset will depreciate according to its life use. This purchase of the plane cannot be one time written off as cost of service. The total cost will be divided to the useful life and in each period, giving an appropriate cost for it. If the Management cannot achieve break even in their operating, means chia lao bi and the continuous loss sure will bring the company to bankruptcy if no new capital to pump into it.

For the assets hold by BjCorp, most of the value asset are the lands and properties. For the freehold land, there will no depreciation incur. Operating lease will accounted for a leasehold land. For the building, normally a 50 years useful life time is take in considered.

If we take a look Bj Corp business nature, it is an investment holding company. In normal practice, an investment holding company is hardly to get an operating profit in short term. Their profit will only be realized after disposal of their long term investment. If you wish to realized your gain in a very short period, that means you have choose a wrong counter and not because this counter is not perform as expected. I propose better you take a look in IT counter as whenever their R & D succeed to innovate a new technology products for the company, it definitely will make you a huge gain. However, its life time is very short and the R & D huge expenses does not 100% bring the good result. One more thing, not everyday is Sunday for you.

Most of the investments done by Bj Corp had achieved a good return. Those appreciation in value is haven't reflected in Bj Corp's share price. That is why Calvin promote this counter for its hidden value.

If we ask how come the price is not up but down all the way? Hmm, ask about yourself, before the price further up, how you treat the shares you had already hold?

Posted by cfoong > 2014-11-06 09:17 | Report Abuse

hahaha... if i am Tan Sri... i would like like to buy more shares in BJCORP and gradualy, i will opt for the privatisation...and thus i will grab all the lands and properties ....and finally i divest them whenever the prices are right.... kikikikikiki... why i need to share with the minority??? kikikikikiki...

Posted by tt101 > 2014-11-06 09:37 | Report Abuse

cfoong, that is also what I am worry. If privatized happen means not only no return but subsidize the tycoon 2b more richer. The lower the price is, the less cost need to be used.

you can see quite a number of good company had delisted in Bursa years back.

Maxis, Astro, Audrey, up down up. Not price but the listing.

Posted by tt101 > 2014-11-06 09:39 | Report Abuse

The company share back back also helping the privatization exercise.

Posted by cfoong > 2014-11-06 10:03 | Report Abuse

tt101, No worry ... i think Tan Sri will privatise BJ Land 1st...hahahaha...from BJCORP... so tht he can hold firmly BJ toto...with BJ Corp.. tht's why u see BJ toto drop substantially recently... To privatise BJ Corp...it is still too early...esp look at those warrants, LD, LC....not easy... step by step...

Posted by cfoong > 2014-11-06 10:21 | Report Abuse

Base on my past experience with Bjcorp, it used to goreng to sky rocket high whenever there is new likely application of sport gaming licences and etc... but this round... this wont happen... perhaps this can be due to the management under Robin will have different way in dealing with the share prices... Also, Tan Sri is retiring and practising much of BUDDISM way in doing business.... but also good... u see lack ":casualty" from 3395...perhaps, some of us may still getting the hand burn...on it... but... this is also due to our greediness...

Posted by tt101 > 2014-11-06 10:33 | Report Abuse

BJ Land 5billion issued share @ .8x
Bj Corp 4.3billion issued share @ .4x

cfoong, privatize Bj Corp at lower cost and get everything.

Posted by cfoong > 2014-11-06 10:39 | Report Abuse

To privatise BJ Corp, Tan Sri family needs to folk up his own money..but to privatise BJ Land, BJCorp shareholders (ocz include Tan Sri himself)... is the one to come out the capital..... they can launch corporate exercise to raise more fund for it...as wht they hav been doing so far..for acquisitions.. haha...all of these i view it from business points of it...

Posted by hng33 > 2014-11-06 11:58 | Report Abuse

There is too remote to expect any privatization plan, judging from VT keen on listing its subsidiary. So, better focus back on Bjcorp existing value.

Posted by kahhoeng > 2014-11-06 12:11 | Report Abuse

against my better judgment, bought some BJCorp @ 0.49 just now...

Posted by datuk > 2014-11-06 14:41 | Report Abuse

If you want misai to take private of bjcorp...can..
Wait for 2099...take nonsense here....kikikioi

Posted by haikeyila > 2014-11-06 14:44 | Report Abuse

bolehland govt says Iskandar is the next Shenzhen. Lee Kuan Yew warned 'at a stroke of a pen they could take it all away'. Who you gonna believe?

Posted by datuk > 2014-11-06 14:47 | Report Abuse

The current corporate structure of bjcorp suit misai's interest! Maintain the status quo!

Kikikiki

Posted by datuk > 2014-11-06 14:52 | Report Abuse

Believe in yrself lah...kikiki

Posted by cfoong > 2014-11-06 14:58 | Report Abuse

Atuk, ocoz Tan Sri wont privatise BJCorp... if he want to..he had did it bf 2006 during BJ Group time...and not now... kikikikikikiki... Atuk, still choose to stay sideline for BJCORP?

Posted by cfoong > 2014-11-06 15:00 | Report Abuse

kikikikiki... i bought some for goreng mid term... Long term... still...not appropriate...at this point.. do wish Tan Sri kasihan ku...let me get some rezeki here... cukup makan sudah...!

Posted by datuk > 2014-11-06 15:08 | Report Abuse

Hmmmmm bjcorp...Bo hen shu..found new darling lioa!!

Posted by datuk > 2014-11-06 15:10 | Report Abuse

2015..belong to water sector...keep yr eyes open "tua tua"...b dam..kikiiiii

Posted by datuk > 2014-11-06 15:14 | Report Abuse

Bj corp...Seow shin si ter wan nian chuan..jangan cakap atuk tak bagi tahu hor..kikikik

Posted by datuk > 2014-11-06 15:16 | Report Abuse

Everyday touching 0.5-1 cent lower with big volunteers. ....chin kiah...kikiki

Posted by calvintaneng > 2014-11-06 15:31 | Report Abuse

Interesting. Interesting discussion.

Some for BJ Corp. Others taking potshot while I am amused,

I want to see if BJ Corp can go lower than 48 cents. At that price Share Buy back will be triggered. And I sure look forward to buy more on weakness.

Certitude is a great thing. If you KNOW there is really nothing to fear.

Posted by hng33 > 2014-11-06 15:46 | Report Abuse

To success in investing, apart from stock gestation time, it also require IQ + EQ + PQ

Posted by nas8878 > 2014-11-06 16:08 | Report Abuse

mas give big angpau!!!! when bj will give??

Posted by hng33 > 2014-11-06 16:11 | Report Abuse

So long there is panic selling, pessimistic investor around, there will have pretty opportunity awaiting genius investor.

Posted by tt101 > 2014-11-06 16:14 | Report Abuse

Got cushion at 48. 130K lot waiting for it. tuk, you Q it?

Posted by datuk > 2014-11-06 16:18 | Report Abuse

Not yet..too early...kiki

Posted by cfoong > 2014-11-06 16:29 | Report Abuse

tuk looking at below 0.455!...kikikikikiki

Posted by calvintaneng > 2014-11-06 16:50 | Report Abuse

RM1.5 Billions CASH for Share Buy back Support. I doubt it will break 46 cents to 48 cents.

Posted by kahhoeng > 2014-11-06 17:14 | Report Abuse

calvin, base on past history, seems 45.5 is possible... sigh, I bought again against my better judgment, hands too itchy, think will start queue from now on to avoid buying too high.

Posted by datuk > 2014-11-06 18:06 | Report Abuse

If dow jone drop 500 point tonight, you can buy below rm0.45 on next week..trust me..it's around the corner!! Kikikiki

Posted by datuk > 2014-11-06 18:07 | Report Abuse

Retest year low is unavoidable! !!

Posted by datuk > 2014-11-06 18:09 | Report Abuse

As long as it never break rm0.505 decisively n sustain until volume getting low; atuk can bet it will below rm0.42!!! Kikikiii

Posted by faralenz77 > 2014-11-06 18:11 | Report Abuse

From previous experience, a few years back, Bjcorp rose only it announced capital repayment from selling subsidiary co. Shareholders really got rewarded. Better than bonus issues.

Posted by hng33 > 2014-11-06 18:25 | Report Abuse

陳志遠環境服務公司 或在新加坡上市
6 Nov 2014 17:44

　（新加坡6日訊）大馬商業鉅亨丹斯里陳志遠重申，不會讓成功集團（BJCORP，3395，主要板貿服）子公司大馬多多博彩（Sports Toto）在新加坡上市，但會考慮讓旗下環境服務業務上市。

　陳志遠日前接受新加坡《聯合早報》訪問時指出，原本的計劃是要讓大馬多多博彩信托著重發展博彩業務，多多博彩就可以著重從事其他業務，但經過一番考慮后，股東們不會喜歡這個做法。

　大馬多多博彩信托是在去年獲准在新加坡證券交易所主板上市，但最終于年底取消上市計劃，因為當時的市場環境極具挑戰，而且在新加坡上市的股項，包括房地產投資信託和其他商業信託的表現欠佳。

處初期階段

　不過，陳志遠有意讓旗下的環境服務業在新加坡上市。

　“因為環境服務業不需再依靠母公司提供資金而成長，所以有如此考量，但該計劃目前處于初期階段，還沒有具體的時間規劃。”

　根據成功集團網站資訊，旗下的環境服務業包括位于大馬武吉達卡（Bukit Tagar），和中國廣東省經營的衛生廢棄物填埋場。

Posted by weijian > 2014-11-06 21:59 | Report Abuse

Many VT's old friends are here.

Posted by hng33 > 2014-11-06 22:46 | Report Abuse

I believe many investor here are keen to invest in Bjcorp, its just a matter of plan entry price, some may wan to wait for year low 45sen, some wan to wait for 40sen etc. But, as long as we believe Bjcorp will recover back witin trading band to hit 55sen in next 3-6 month, then it make no much different now, as it is just a matter of profit margin.

To those already invested, just hold on it, allow time to materialize bjcorp value and deliver better result from wholly own starbuck now, realize land disposal gain, better result from listed subsidiary such as Bjauto.

Posted by Cyborg > 2014-11-06 22:52 | Report Abuse

i strongly believe investor here not interested to invest bjcorp... not only in this forum also outside there...