Calvintan is a strong believer in Undervalue Share of MP Corp. I bought 20,000 shares of MP Corp at 33.5 cents on the last day before it was suspended.
I remember buying & buying Perak Corp at only 60 cents in similar circumstances.
I am buying MP Corp at 93% DISCOUNT TO RNAV. For that I am indeed glad & happy though the Whole World might not agree with me. It does not matter at all.
when will bjcorp announce license on casino? from the chart, it seems to drop to 0.405 level before next rebound. i have been waiting long time for the casino license outcome.
I am singing a Chinese song now for BJ Corp :- "You know or not know .... You know or not know .... I wait until the flowers also die liao ao ao ao ao ..... " ( in singlish , hahahaha )
Calvin Tan please do sth !!! Work hard to promote BJ Corp, write blog, analyst reports, spread rumors, all over investment forums etc..... So that those got trapped ( me included) can be rescued !!
Many very rich businessmen in Malaysia run their listed companies to serve solely or mainly their own interests. They are rich enough to take the company private anytime with their private wealth. So, they together with all their family members take fat pay each year. If that pisses minority shareholders off, so be it. And when share prices of their companies drop to ridiculous levels, they take it private, wait for a few years and then relist it when markets are good. VT, Khoo Kay Peng, Genting Family, Country Height family, Mulpha, etc are among them, sadly.
always_steady, the huge loss in that quarter is just a impairment loss, due to the deal that VT sold 20% of Times Square to Sultan Johor at lower than book value price.
For example: You bought a piece of land at RM1,000,000 (RM100,000 per arce) . After 10 years, actually the land is already worth RM10,000,000 (RM1,000,000 per arce), but since you never re-value it, so in your account it is still carry at RM1,000,000. One day, your father force you to sold 20% of your land to your mother, at RM120,000 (RM60,000 per arce). Since they are your parent, so you force to sell the 20% at RM120,000, which is 40% much lower than your original price.
After you sold it, then your accountant told you that the latest transaction is RM60,000 per arce, and since my account still got 8 arce, so the market value should be 8 x RM60,000 = RM480,000.
However, in my account, the land is still carry at RM800,000, so my accountant for me to make an impairment loss of RM320,000 in this quarter.
So now your understand why BJCORP loss RM250,000,000?
If today times square sold another 10% to someone at current market value, then maybe you will see a huge gain of RM1bil at anytime.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
ufoisreal
198 posts
Posted by ufoisreal > 2014-11-19 10:48 | Report Abuse
wow~i thought bjcorp delisted a year ago due to finance probblem