Posted by hng33 > 2015-06-26 22:01 | Report Abuse

Lewis Lee

I don't think so, VT is the founder of Bjcrop, therefore, it can hold maximum 75% of the company or so long there is 25% free float in the market.

The takje offer code is trigger if someone other than VT to buy Bjcorp more than 33%, then these person must launch general offer to other minority shareholder.

Posted by Lewis Lee > 2015-06-26 22:06 | Report Abuse

I see, hng33 .....
You are the best !! ( thumbs up)

Posted by Lewis Lee > 2015-06-26 22:14 | Report Abuse

One final and vital question to hng33 :- haha, do you agree with Calvin Tan that BJ corp is Asian Berkshire Hathaway ?
( I think many long suffering minority like to find up too !)

Posted by hng33 > 2015-06-26 22:15 | Report Abuse

Lewis Lee

I think Bjcrop account is genuine as it have no problem to get external audit approval. The problem is that there is large amount of non-cash goodwill in Bjcorp book, which is difficult to determine and justify how accurate and fair value given in the goodwill, take for example, Bjcorp management may perceived that Toto brand and its NFO license alone worth carry goodwill RM 1 billion.......and auditor may have no objection to that given that there is only limited NFO license in the market and the fact that toto is well know brand and have largest network in the market. Similarly, big goodwill also carry in industry like banking, telco in which is under strict gov control industry.

Posted by hng33 > 2015-06-26 22:41 | Report Abuse

Lewis Lee

I don't agreed with Calvin to some extent, although he did point that it is undervalue due to large tract of undervalue land, but he tend to mismatch that the undervalue land alone cannot justify current company fair value. take for example, Many of the property stock trade at below their NTA (these NTA is back by solid landbank), some trade only half or even quarter of their NTA. Why ?? Compare with proactive developer like Mah Sing, its sahre is trade very near to its NTA.... these company able to generate profit from the land by launching properties, received good take up, have big unbilled sale, ensure next few year earning visibility, then market will give it fair valuation and it worth of investing.

The undervalue land must either to dispose partially at current value, record surplus or company initiate to develop these undervalue in order extract the value from it. If these company is slow or passively treat these undervalue land, it will not generate profit from these undeveloped land, and company need to incur interest burden if these land is acquire via bank borrowing.

Listed company must constantly to look out for profit generating business, deliver solid profit, positive ROE, ROA and satisfying EPS and reward shareholder with fair dividend payout. Only if these listed company is capable of extracting its assets, then it only worth of investing.

Bjcorp did however, extract good value from its subsidiary Bjauto and Bjfood by pare down its stake and selling it for massive profit. But, inconsistency through... Bjcrop other subsidiary like Bjland and associate company like Bjmedia report negative earning.....therefore, for such diversify business, bjcorp as holding company might end up offsetting or pare down positive effect from those profit generating subsidiary with those loss subsidiary company.

Posted by cyphua > 2015-06-27 07:05 | Report Abuse

Shit BJLand making loss of RM418,517,000 and BJCorp have alots of BJLand,

Posted by cyphua > 2015-06-27 07:12 | Report Abuse

BJLand RM400M loss mean contribute to BJCorp a lot also, but not mean will reflect on this quarter, may on next quarter, I will quit when coming three month have good price.
BJCorp will have good result this financial year, other like Berjaya Philippines Inc. have too much risk.

Posted by cyphua > 2015-06-27 07:13 | Report Abuse

Redtone NTA RM0.291 and purchase at RM0.80 also is a bomb for me.

Posted by calvintaneng > 2015-06-27 10:27 | Report Abuse

Redtone is a telco. As such we use a different yardstick for its value. Last time Digi with little Nta. Yet Digi share price shot up from Rm4.00 to over Rm20 and split.

I have a very long term view for Bj Corp. Last time Focal Aims lands were unloved at Rm5 psf. Now people are paying Rm45 psf to Ecoworld for the same plots of lands.

How will Bj Corp unlock its value. For that we will wait. The Prime Assets and Landbanks are our interest. It does not matter about prices as long as We Are Buying into Value with long term holding power.

Posted by lmseng > 2015-06-27 10:52 | Report Abuse

Bravo! Calvin.

Posted by lmseng > 2015-06-27 11:14 | Report Abuse

Only thing is VT said have to tan-ku-ku and nobody know how long.

Posted by cfoong > 2015-06-27 19:50 | Report Abuse

Kiki kikikiki. .. another kantooi quarter for bj con! Kikikikikikiki. ..

Posted by Tan_ku_ku > 2015-06-28 12:18 | Report Abuse

Agree with you Imseng on tan-ku-ku and cfoong on another bad quarter for BJ Corp. Digi(cheaper than Maxis, Axiata and TM) is index-linked and EPF will support. Redtone? BJ Corp to support(80sen)? If BJ Corp support Redtone who suffer?

Posted by MyView > 2015-06-28 12:59 | Report Abuse

Instead of giving more dividend ( another 3 sen) to BJCorp shareholders, BJCorp bought 200mil of BJLand shares at 75sen ( Total rm150mil) in 2014. Why buy more BJLand shares when they know that BJLand is going to write off rm400mil in April 2015? Just because BJCorp makes 1bil in April 2015 accounts does not mean they have to sponsor rm400mil losses in BJLand. Now the profit of BJCorp will be reduced.

Posted by MyView > 2015-06-28 13:14 | Report Abuse

Eventhough the accounts are genuine, the management can manipulate their accounts in this sense. When you make lots of profit, they can make you absorb some of the losses incurred elsewhere by increasing BJCorp stakes in the loss making company.

Posted by steamboat > 2015-06-28 15:11 | Report Abuse

when bjcorp buy more bjland, bjcorp indirectly buy more bjasset and bjtoto also

Posted by steamboat > 2015-06-28 15:13 | Report Abuse

dont only focus on eps look at cash flow also... bjcorp brought in almost 300m operating income this 9 months eventhough eps is negative doesnt mean they not earning money

Posted by MyView > 2015-06-28 15:38 | Report Abuse

My question is why BJCorp invest another 200mil shares ( RM150mil) in BJLand when the management already know that BJLand was going to write off the goodwill account of rm400 mil for the year? RM150mil can pay another 3sen dividend to BJCorp shareholders or at least pay off the bank loan first.

Posted by calvintaneng > 2015-06-28 15:46 | Report Abuse

Better focus on spiritual things as today is Sunday!

Go Church or go see www.chick.com

I fully support BJ Corp buying up BJLand deeply undervalue shares. There are SO MANY HIDDEN TREASURES IN BJ LAND.

Take one for example.

BJ Land own 60 acres of Freehold prime land in Tmn Tun Abdul Razak in Ampang Jaya - minutes away from KL Petronas Twin Towers.

Land was bought in 1992 (23 years ago at old book value) for Less than Rm30 millions or RM500K an acre or about RM10 psf. Lands nearer to Petronas Twin Towers are now command a price of RM3,000 to Rm3,500 psf.

In PropertyGuru.com.my Lands in Ampang Jaya around Tmn Tun Abdul Razak are advertised above Rm400 psf today (current price)

So The 60 acres land if revalued should be around Rm1.2 Billions today.

There will be an almost Rm1 billion surplus gain if just one small asset of Bj Land is revalued.

And if TRX is launched The 60 Acre Lands should go up some more.

THIS IS VALUE!

VALUE OVERLOOKED BY THE MADDENING & SKEPTICAL CROWD!

The Best Thing to Buy on Earth is Earth.

The Bible says, "THE EARTH IS FOREVER" Ecclesiates 1:4b)

Stephen Cover says, "Learn to see the END From The Beginning"

And Calvin sees Bj Corp at Rm10 per share in the Far Future.

There are 3 kinds of Birds

1) Kiwi, chicken & other flightless birds.
These are grounded creatures with wings that cannot fly.
They also cannot see far.

2) Flying geese, heron, stork, sparrow or flamingo.

These can fly with flapping wings. They can fly from tree to tree, state to state & even country to country.
These birds can see much further than chicken & kiwi. But still cannot match one type.

Which type?

Answer:

3) THE EAGLES!

Eagles are raptors. As such they don't just fly by flapping wings. They spread out their wings. Warm air current lift them up skyward in a spiral. And eagles Can see VERY FAR. They also fly from continent to continent.

So learn to see BJ Land in 10, 20 or 30 years time. You MUST SEE FAR - FAR INTO THE FUTURE.

Now tell the chickens there exist ponds, lakes & even Oceans on earth. Chicken will tell you there are no such thing because they cannot see them. I expect very very very few to agree with me when I say Bj Corp is a blue chip selling at penny prices. Never mind.

See "The Way of The Eagle in The Air" at www.inspiretopray.com

Posted by MyView > 2015-06-28 16:05 | Report Abuse

Why is BJCorp a penny stock? Because the management could have done much better for the company/Group and shareholders. Why buy BJLand when you know that there is RM400mil to write off. If BJCorp buy BJLand now, it is only 71 sen. BJCorp could have save some millions or give more dividend.

Posted by mr x > 2015-06-28 17:51 | Report Abuse

nice eagle and chick story, anyway whatever stories you post i am prepare to read and most of all agreed kikikikikikiki

Posted by tt101 > 2015-06-29 08:26 | Report Abuse

atuk, will BjCorp have a positive figure for this qtr report?

Posted by cfoong > 2015-06-29 09:43 | Report Abuse

kikikikiki.. Atuk is busy throwing his Bj con shares now at 0.41... janganlah kacau! kikikikikiki

Posted by tt101 > 2015-06-29 09:45 | Report Abuse

wah, u know what i mean, kikikiki

Posted by andylee1919 > 2015-06-29 10:20 | Report Abuse

Although it is a chicken or bird story but big impact and deep meaning. Calvintaneng always telling us story to inspire us to cheer us up.

Posted by tt101 > 2015-06-29 14:55 | Report Abuse

jia lat liao......

Posted by Lewis Lee > 2015-06-29 14:57 | Report Abuse

Price will touch 10 cents soon !!!

Posted by ganasai > 2015-06-29 15:14 | Report Abuse

penny stock is like this. only calvin dare to say blue chip worth $10.

Posted by speakup > 2015-06-29 16:12 | Report Abuse

worth 10 rupiah

Posted by calvintaneng > 2015-06-29 23:15 | Report Abuse

If everyone is so pessimistic just sell to Calvin all the way from 35 cents to 10 cents.

Operasi Tong Sampah waiting

Posted by Vincent Tan > 2015-06-30 09:19 | Report Abuse

sell to me at 0.395, I make it 10 in tan kuku years

Posted by datuk > 2015-06-30 09:27 | Report Abuse

Wow, wonderful!

Wonderful!

Kikikikiki

Posted by datuk > 2015-06-30 09:28 | Report Abuse

Sui sui!

Kikikiki

Posted by datuk > 2015-06-30 09:40 | Report Abuse

Misai ....Gua ai li...

Kikiki

Posted by MyView > 2015-06-30 09:42 | Report Abuse

BJCorp's Q3 2015 profit RM1.0bn and the NAV increased to 1.60, but the share price cannot go up. Why? Because BJCorp's profit and loss can be manipulated.

Posted by sell > 2015-06-30 09:47 | Report Abuse

Why QR still not out? To report loss like BJ Land?

Posted by datuk > 2015-06-30 09:53 | Report Abuse

Wonderful! Wonderful!

Kikikiki

Posted by rlch > 2015-06-30 10:00 | Report Abuse

Why wonderful datuk? If QR good, BJ Corp would have released earlier like last QR or like BJ Toto.

Posted by MyView > 2015-06-30 10:05 | Report Abuse

BJCorp's Q4 will definitely show a loss because of BJLand. Eventhough, BJCorp Q4 result show a loss, the NAV will increase because there is operation profit. The loss incurred by BJLand is writing off the goodwill account. Earlier this year, BJCorp bought another 200mil shares of BJLand when they already know they will be writing off RM400mil. No wonder BJCorp have no money to pay more dividend to their shareholders. This is manipulation.

Posted by Lewis Lee > 2015-06-30 10:22 | Report Abuse

This last quarter will annouce loss at least 4 cents ? Like last year
Mostly from impairment loss, as hng33 pointed up, there is huge goodwill amount in their book , can be very misleading, if the goodwill need to impair or write off every year, the NAV might be as low as .... ??

Posted by MyView > 2015-06-30 10:52 | Report Abuse

If Q4 loss 4 sen. FYE2015 will make 16 sen. Still good. What I am suspicious is BJCorp buying another 200mil shares (RM15mil) when they already knew there will be an impairment write off. Should use the RM150mil to pay dividend or pay off loan or both.

Posted by datuk > 2015-06-30 11:47 | Report Abuse

Can someone recalls...when was the last time you enjoyed 20% capital gain after important announcement ?


Kikikik

Posted by Ah guuuu > 2015-06-30 12:35 | Report Abuse

Ong Mali.. Ong Mali.. I guess by end of today we will know the result.... Kiki

Posted by albukhary > 2015-06-30 14:07 | Report Abuse

I bet it will dip into 38sen after result released.

Posted by tt101 > 2015-06-30 15:09 | Report Abuse

I only remember since year 2011, each time when gain 2-3% and sure it will follow with loss 5-20%....

Posted by speakup > 2015-06-30 15:19 | Report Abuse

good thing I offloaded most of my bjcorp earlier. now putting my money to better use in frontkn

Posted by MyView > 2015-06-30 15:24 | Report Abuse

Now it is so obvious the Q4 result is a loss. With good profitable result, the share price keep sliding down. So what about when the result is a loss? You guess.

Posted by ganasai > 2015-06-30 15:43 | Report Abuse

Poor management, dont know how to do business.

Posted by MyView > 2015-06-30 15:50 | Report Abuse

The problem here is that there is no pressure group to question the management's stupid action. Only MSWG can help the minority shareholders here. (Minority Shareholders Watchdog Group).

Posted by fyh30 > 2015-06-30 17:32 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/47877650