Posted by Ang Eng Keong > 2015-12-04 10:14 |

Post removed.Why?

Posted by 爱丽丝 梦幻世界 > 2015-12-04 10:15 | Report Abuse

Saya sudah confused............

Posted by Arnabputih > 2015-12-04 10:15 | Report Abuse

那你被骗了多少呀？

Posted by ganasai > 2015-12-04 10:18 | Report Abuse

if they launch this new warrant/new loan stock will bring serious effect to old one. mother share price also affect because no. of share size increase, but eps cannot be see so soon, based on economic now. So I strongly make objection.

Posted by ignissimia > 2015-12-04 10:21 | Report Abuse

The first letter of ICULS is 'irredeemable' indicating no redemption for cash. This is further emphasized under remarks.

Therefore there is not much differences between holdind the ILCULS-LD and the mother scripts. Holding the mother entitles you to vote on matters and to receive indefinite dividends. Holding the loan stock entitles you to a fixed 5% interest pa.

Posted by ganasai > 2015-12-04 10:25 | Report Abuse

ya this one anyone will know. So would you subscribe loan stock with pay RM1? but later when convert to mother, then become 0.3x or even lower? Based on stock chart, i only can see every year also drop at least 10c. So what is your final destination of your loan stock? So what you talking about?

Posted by ignissimia > 2015-12-04 10:25 | Report Abuse

Therefore the value of this LD is hitched to the price of the mother share plus or minus a premium or a discount as you see it.

Posted by ganasai > 2015-12-04 10:27 | Report Abuse

So, why need to launch this one? Got people subscribe with huge loss? Could you explain? If ikan billis like us not buy in, what is situation?

Posted by ignissimia > 2015-12-04 10:28 | Report Abuse

Why? Your guesses will be as good as mine.

I think somebody is planning to move the mother up in a big way.

Posted by ganasai > 2015-12-04 10:29 | Report Abuse

u think too big. this is what i can say.

Posted by 爱丽丝 梦幻世界 > 2015-12-04 10:31 | Report Abuse

Ignisimia ... wat u mean " in a big way "... u hv any news?

Posted by ganasai > 2015-12-04 10:32 | Report Abuse

i just know my share and eps be diluted due to share amount increase because of new loan stock and warrant, but based on land share performance history and face a lot of challenges due to economic now, return so so only. So why still need to buy in 12% at this time?

Posted by ignissimia > 2015-12-04 10:33 | Report Abuse

Sorry, i am driving on the road.

Posted by ganasai > 2015-12-04 10:38 | Report Abuse

when they launch loan stock, rule already state cannot less than 1. Of course, they can still launch, but i believe only old fox family buy in. Nobody have so big power to push up the current mother share price back near to 1. This is my opinion.

Posted by iQBE189 > 2015-12-04 10:41 | Report Abuse

lai... bjcorp shareholder party time.....

Posted by ganasai > 2015-12-04 10:44 | Report Abuse

when other stock launch private issue or right issue also based on current share price. So that fund willing to buy in. This loan stock price so high, only stupid buy in.

Posted by ganasai > 2015-12-04 11:02 | Report Abuse

i think a lot of people already loss money with this counter. So they are very angry. Me too. Now they propose this kind of useless thing, bring more hurt. The share size already big like elephant. But cannot bring good thing to share holder like good dividend return and share price improve. Still want to increase the share size, really make me angry.

Posted by ganasai > 2015-12-04 11:22 | Report Abuse

last time i bought ld 70c almost 1 year ago. But now only left 60c. I loss 10c. The interest i received also cannot cover my loss.

Posted by Eddysurge > 2015-12-04 11:33 | Report Abuse

If every listed company follow footstep like bjcorp,all shareholders will be panic. Bursa must be inform!

Posted by ignissimia > 2015-12-04 12:00 | Report Abuse

Think about it. BJCorp is proposing to acquire VT & Penta's 12% equity in BJLand for $419.21m to be satisfied by 65.86m cash, 353.25m ICULSs and 706.5m free detachable warrants.

Simplified, the cash and convertible securities payments in kind add up like this approximately; $65.86m + (353.35×0.38)m + (706.5 × $0)m = $(65.86+247.35+0)m based on currently figures. That's $200.1m only.

You think VT is stupid?

Posted by ganasai > 2015-12-04 12:34 | Report Abuse

Their family convert the ld to mother share. Why recently keep up increasing the mother share holding? if they subscribe all this new loan stock and convert to mother share again, what will happen? recently really something wrong.

Posted by ganasai > 2015-12-04 12:37 | Report Abuse

very smart way. not absorb from open market but through this kind of conversion to increase the holding. So that the share price maintain low.

Posted by yeong55 > 2015-12-04 13:41 | Report Abuse

Ya agreed with Eddysurge, can inform Bursa.

Posted by ignissimia > 2015-12-04 15:06 | Report Abuse

So only when the 290.856m BJCorp-OA shares become full fledged ordinary shares after today, the trigger is effectively sprung?

Try not to let your emotions cloud your thinking when investing or trading in stocks. It is to your disadvantage, friends.

Posted by Eddysurge > 2015-12-04 15:54 | Report Abuse

OA Share already close one eye, still want trick minorlty shareholder. 60% more bjland not contribute given, why need 12% with higher cost , interest sacrifice & share diluted,being share price manipulated risk.

Posted by Jolin Lai Chi Pet > 2015-12-04 19:44 | Report Abuse

prepare to go below 30cents..................................... next year!!!!!!!!!!

Posted by ignissimia > 2015-12-04 20:13 | Report Abuse

* This posting replaces an earlier one because I found an error in my earlier working which I have rectified below.

The 12% acquisition of BJLand is not dilutive of the NTA of BJCorp. The following figures in my simple calculations are rounded.

Existing ord shares today 4,382m
Existing 'OA' shares today 291m
After merging of shares, total ord shares will be 4,673m
Total book value of BJCorp today 4,382 x $1.5983 = $7,004m
NTA after merging of shares $7,004m/4,673m shares = $1.4988 ps

After acquisition of extra 12% BJLand equity, if deal is done;
Add 12% of BJLand at book value 599m x $1 = $599m
Less cash payment $66m

For ease of comparison, assume holders convert all 353m ICULSs to ord shares immediately on listing and ignore warrants first, then;
New NTA will be $(7,004 + 599 - 66)m/(4,673 + 353)m shares = $7,537m/5,026m shares = $1.4996 ps

If all warrants also fully converted to ord shares, then;
New NTA will be $(7,004 + 599 - 66 + 707)m/(4,673 + 353 + 707)m shares = $8,244m/5,733m shares = $1.4380 ps

Therefore, all fears about NTA dilution are misgiven when you look at the 3 figures; 1.4988, 1.4996 and 1.4380.

I am a layman and not a promoter of BJCorp but I own some shares in the company.

Posted by Eddysurge > 2015-12-04 21:26 | Report Abuse

Ignissimia, are u want buy bjcorp now if knowing 12% bjland to be sold to bjcorp? Fact tell the book value.

Posted by ignissimia > 2015-12-04 21:55 | Report Abuse

I am not selling what i have. If I come into some more money, I would allocate a portion to increase my holdings of this counter.

Posted by klkk > 2015-12-04 22:41 | Report Abuse

I read again the announcement on the 12% acquisition of BjLand and found that it's a fair deal. Why? 1) The sellers cost of purchase of the Bj Land shares averaged to about RM0.75/share but they are selling to Bj Corp at RM0.70/share. 2) the Icul is issued at RM 1.00 and only earning 2% interest, 3) the warrants have to pay RM1.00 in order to subscribe for Bj Corp share.

Posted by klkk > 2015-12-04 22:43 | Report Abuse

If the sellers are not honest they could well push up the price of Bj Land before selling it to Bj Corp.

Posted by klkk > 2015-12-04 22:46 | Report Abuse

The fact that the Iculs & warrants have to pay RM1.00/ share to subscribe for Bj Corp share apparently is telling us Bj Corp is worth something of RM1.00 at least.

Posted by klkk > 2015-12-04 22:50 | Report Abuse

Yes, I m also like Ignissimia, I keep on buying & I m not selling..... may the force be with Bj Corp.

Posted by ganasai > 2015-12-04 22:57 | Report Abuse

No klkk, set as 1 because cannot less than par value 1. Understand?

Posted by ling > 2015-12-04 22:58 | Report Abuse

A lot of manipulation and speculation ...no real investment can be done here

Posted by klkk > 2015-12-04 23:25 | Report Abuse

Ganasai, very well, that's the face value of the share. However, if the company is not worth the RM1.00 who would want to take in 353 million shares now. Though there's one thing quite peculiar here, why are they not buying from the market at 37.5/38.0 sen now instead of subscribing at RM1.00 par value?

Posted by 爱丽丝 梦幻世界 > 2015-12-04 23:27 | Report Abuse

Revenue yoy increase .... eps yoy increase .... but dividend flat 1 cent ! why ?
http://www.berjaya.com/financial-summary.html

Posted by 爱丽丝 梦幻世界 > 2015-12-04 23:30 | Report Abuse

sry ... i'm wrong.... only revenue increase .. :)

Posted by klkk > 2015-12-04 23:33 | Report Abuse

This is undoubtedly the most mysterious and most difficult to understand counter in Bursa.

Posted by klkk > 2015-12-04 23:41 | Report Abuse

I hate it when i see the price down but the next moment I quickly buy some because it's a value buy. Sadly to say I m on paper loss on this counter.

Posted by ignissimia > 2015-12-05 00:18 | Report Abuse

Based on face value, BJCorp would come out of the deal the clear winner over BJLand at today's closing market prices.

Payment for 599m shares of BJLand = Cash $65.86m + ICULSs (353m x 0.375) + Warrants (707m x $0) = $198.24m

Cost of each BJLand shares = $198.24m/599m = $0.331 ps

Compared with today's market closing price of $0.70 ps

Posted by ganasai > 2015-12-05 01:11 | Report Abuse

Klkk, for answer your question, i believe no one will subscribe new loan stock except old fox family. Because 1 for them is not that much. If they buy from open market only make the share price increase. They will use this kind of loan stock and conversion to increase holding. One day if some one enough mother share, he or she may privatise but with low price. Because market price is low.

Posted by ganasai > 2015-12-05 01:17 | Report Abuse

Ya value buy, but u must have patience. Someone purposely make the price low. May be because of call warrant. Old fox family also dont want come out buy the share always. Company also seldom share buy back. No. Of share also big like elephant. People always fry to earn 0.005c. I believe share price will continue side way until few years long.

Posted by DreamEmperor > 2015-12-05 01:19 | Report Abuse

what TP?

Posted by ganasai > 2015-12-05 01:20 | Report Abuse

No comment on tp. Good luck. U got see any bank come out give tp?

Posted by ganasai > 2015-12-05 01:23 | Report Abuse

Here only ikan billis vs old fox family. U got see other fund in?

Posted by Eddysurge > 2015-12-05 01:32 | Report Abuse

Now i know why VT said u knew him well,but this time he really make u & all minority angry by slaughter us long term slowly. I really thks ganasai for sharing this whole day.

Posted by myview > 2015-12-05 11:05 | Report Abuse

Bjcorpse - Profit 850m. Nav 1.50. EPS 16 sen. BUT price 38sen, PER 1.3, dividend 1 sen.

Posted by Eddysurge > 2015-12-05 11:14 | Report Abuse

If this 12% acquires can go through & affect the Company policy ,minority right. I myself & minority shareholder needs to tell the public. All the company use this scheme, will impacts the confidence of investor who's ignorant .

Posted by Eddysurge > 2015-12-05 15:37 | Report Abuse

List out impacts: 1. Share volume increase ( conversion from iculs & warrantly - 2nd times) 2. Bear iculs interest 3. Bear probably loss from bjland-past earning return none & nightmare to bjcorp profit evan 60% owned ) 4. Ownership conflict. Zig zag cross owner plot. 5. See the share price yrsself