Posted by cyphua > 2016-03-24 07:35 | Report Abuse

BJMedia is making loss RM11M/=, BJLand is making loss RM21M, feel not vary good, but selling of share and property getting a lot of cash need to monitor, not sure the recorded Asset cost. feel 50:50. buy in RM0.415 yesterday afternoon. Pop, Pop lah.

Posted by cyphua > 2016-03-24 07:54 | Report Abuse

From the FT market ( http://markets.ft.com/research/Markets/Tearsheets/Business-profile?s=BJCORP:KLS ) found that Norges Bank Investment Management is buy in 10.39M share recently. (1) for Malaysia Ringgit going strong, (2) foreign fund is buy in in Malaysia Market for past one week, I believe is a opportunity to collect.

Posted by cyphua > 2016-03-24 07:55 | Report Abuse

Last week check BJCorp Institutional shareholder is 4.21%, now 4,54%, hope going up to 50%.

Posted by cyphua > 2016-03-24 07:56 | Report Abuse

Hihihi

Posted by tt101 > 2016-03-24 09:16 | Report Abuse

.
UPDATES ON LEGAL PROCEEDINGS BY BERJAYA JEJU RESORT LIMITED
We refer to our announcement dated 6 November 2015 in relation to the JDC Lawsuit (as defined below).

As set out in the earlier announcement, Berjaya Land Berhad’s (“BLB”) 72.6% subsidiary, Berjaya Jeju Resort Limited (“BJR”), had instituted legal proceedings in the Republic of Korea against Jeju Free International City Development Center (“JDC”) for breach of contract and for losses and damages incurred as a result thereof (“JDC Lawsuit”).

Pursuant to the financing arrangement for Phase 1 of the Jeju Project and following the suspension of the development works thereon, JDC had repurchased part of the lands (under Phases 2 to 9) for Korean Won 107.0 billion (equivalent to about RM374.5 million) and the cash proceeds were used to fully settle the loan outstanding with the financiers and to partially settle the Phase 1 construction cost due and owing to the main contractor.

On completion of the land repurchased by JDC, BJR terminated the land sale and purchase agreement in respect of the remaining land under Phase 1 of the Jeju Project.

The Seoul Central District Court was accordingly informed of the abovementioned developments
during the first court hearing of the JDC Lawsuit held on 7 March 2016. The next court hearing has been fixed on 4 April 2016.

This Announcement is dated 23 March 2016

Posted by tt101 > 2016-03-24 09:18 | Report Abuse

is the huge fund for this black hole? or Vietlott?

.....partially settle the Phase 1 construction cost due and owing to the main contractor.

Posted by tt101 > 2016-03-24 09:20 | Report Abuse

Jialat

Posted by ugorrkim > 2016-03-24 11:31 | Report Abuse

D more u talk d more it drop..

Posted by martinbartesque > 2016-03-24 11:34 | Report Abuse

I never expect goods earning result from BJcorp. I am targeting gaming project in Vietnam. I believe most of the investors in this blog have same objective with me. This is a long term investment, definitely not short term. Although the gaming project starts in this june, I expect its contribution will be started in early 2017 onwards. I am ready to keep it for at least 1 year.

Posted by Up_down > 2016-03-24 12:08 | Report Abuse

Is it a good news to BJcorp to suspending development of Jeju project? BJcorp gearing would be lower as a result of halt in resort developments. Overall, BJLand had invested RM 500 million in both infrastructure and purchased of land so far. With the initial compensation of RM 374.5 million for land from Phase 2 to 9, it' is far exceeded the entire piece of land RM 192 million purchased few years ago. JDC have to buy back land in Phase 1 which has been developed infrastructure. Will BJland strike a gain from the compensation of JDC?

Posted by ignissimia > 2016-03-24 16:37 | Report Abuse

You can see in Google Map that most of the buildings in Phase 1 have already reached an advanced stage of completion. The structures and exterior wallings appear completed.

BJCorp should be claiming damages and loss of profits not just compensation. It will be a positive outcome but the profits could have been a lot more had the project not been abrogated.

Posted by kahhoeng > 2016-03-24 18:17 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5039681

BJCorp disposed another 20 million shares of BJAuto

Disposed 23 Mar 2016 20,000,000

Posted by cyphua > 2016-03-25 07:22 | Report Abuse

Dispose so much Asset, good or no good? need so much cash for Jeru Project? Vietnam Project? Redtone Project? New Project? or payback Shareholder?

Posted by cyphua > 2016-03-25 07:26 | Report Abuse

According to Up_down, Jeru Project Phase 2~9 purchase RM192M/=, now sell back is RM374.5M, is good, need to monitor Phase 1 situation now. I remember Phase 1 all most completed and sell, seem not much problem in this project.

Posted by cyphua > 2016-03-25 07:30 | Report Abuse

Not sure when this new post, but.... can get some info.

JEJU ISLAND: Berjaya Land Bhd’s (BLand) US$3.2bil (RM9.92bil) Berjaya Jeju Resort will feature the biggest casino and shopping mall in South Korea, along with condominiums, villas, hotels and a landmark building once it is completed.

The first phase to be launched will be its 51 villas and 96 “market walk” units with a gross development value of US$250mil, with prices starting from US$1,000 (RM3,300) per sq ft.

BLand chief executive officer Datuk Francis Ng is confident of generating 25% return from Phase 1 alone.

“In South Korea, we can only start selling the units once we have done 20% of construction works. We should be able to start selling in three to four months. However, our pre-marketing is already starting,” he said.

Ng said this at the opening ceremony of BLand’s property gallery here.

He added that for the moment, Phase 1 would be fully funded by internal funds, although some financiers had expressed interest to provide loans. The entire Phase 1 should be completed in 26 months.

Right now, Jeju Island has the support of the Central Government of South Korea to transform the area into an international tourist destination, matching the likes of Hong Kong and Singapore.

BLand’s wholly owned subsidiary Berjaya Leisure (Cayman) Ltd has a 72.6% stake in the project, while Jeju Free International City Development Centre has a 19% stake and Swan Street Partner LLP holds the remaining 8.4%.

Ng said the Jeju Resort, which has one kilometre coastline, would create some 4,000 jobs and would help provide more hotel accommodations currently not available on the resort island.

“We will have some three hotels in our resort. Right now, we are in talks with Ritz Carlton to be our partner for one of our hotels,” he said.

Since venturing into the project in 2008, BLand has pumped in some US$100mil (RM310mil) on the infrastructure works itself. It bought the 75-acre freehold land for US$62mil (RM192.2mil) or US$8 (RM24.80) per sq ft.

Currently, buyers who buy properties worth US$500,000 and above in Jeju Island will be entitled to permanent residency in the resort island.

On the casino front, Ng said the group was not in a hurry to proceed with the development as presently, the South Korean government had yet to issue domestic casino licences.

The local government of Jeju Island is in talks with the Central Government of South Korea to review the liberalisation of this domestic casino licence. Jeju Island is a self governing province in South Korea.

Meanwhile, for the shopping mall component, BLand intends to develop it on its own and look for a local partner.

Posted by 爱丽丝 梦幻世界 > 2016-03-25 09:53 | Report Abuse

What happened?

Posted by ignissimia > 2016-03-25 13:20 | Report Abuse

Berjaya Jeju Resorts - Phase 1

https://www.google.com.my/maps/@33.2410064,126.3928492,797m/data=!3m1!1e3?hl=en

Posted by 爱丽丝 梦幻世界 > 2016-03-25 15:23 | Report Abuse

Jeju was an Island? Pulau? 岛? Omg! Very good location

Posted by cyphua > 2016-03-25 16:26 | Report Abuse

Thank for sharing.

Posted by tt101 > 2016-03-25 16:48 | Report Abuse

oh no man, invest without knowing the big project involved.....

Posted by tt101 > 2016-03-25 16:48 | Report Abuse

never mind, may be each share one villa there as a token of special dividend

Posted by tt101 > 2016-03-25 16:53 | Report Abuse

we just need to complete the another 40%.

Posted by tt101 > 2016-03-25 17:00 | Report Abuse

Once JDC completed convert the land use purpose and if they willing sell it back to Berjaya, than Casino project can be continued. Jeju Island is very nearby to ShangHai and Nagasaki. Hmm, just day dream...

Posted by ignissimia > 2016-03-25 17:26 | Report Abuse

Not to worry too much. Koreans are tough but fair and honourable people. Local partner of Berjaya is the Jeju Free International City Development Centre (JDC) which is a statutory agency established within South Korea's Ministry of Construction and Transportation, and JDC oversees the development of Jeju Island.

Berjaya Jeju Resort Ltd (BJR), the master developer for the development of 74.37 hectare land in Yerae-Dong, Seogwipo-Si, is an 81:19 joint venture between Berjaya Leisure (Cayman) Ltd and JDC. BJR is suing JDC. I am sure they are on good talking terms.

Their court will decide on what is fair for everybody.

Posted by tt101 > 2016-03-26 10:13 | Report Abuse

If the land of Kang Min is within phase 2 to 9, the halt project court order got a U turn possibility.

Posted by tt101 > 2016-03-26 10:13 | Report Abuse

Wait and see on 4 April 2016.

Posted by tt101 > 2016-03-28 08:13 | Report Abuse

https://pagansweare.wordpress.com/2015/10/20/jejus-shrines-under-attack-2-yaerae/

Posted by Investeye > 2016-03-28 15:28 | Report Abuse

Matched some the RM0.41, main focus is the venture of gaming businrss in Vietnam which ecpect to start operation from May 2016. Just take opportunity to accumulate during this consolidate ..

Posted by ignissimia > 2016-03-28 21:00 | Report Abuse

I wonder why JDC did not make it a priority to preserve the pagan 'temples' and 'holy' sites in the development of Jeju Island? From where we are, we can't really comment on what should or not have been done there as we don't have the facts and are not familiar with local culture and social priorities. Are those in question noteworthy tourist attractions? Are they untouchable sacred places of worship deserving preservation of national order? Couldn't they be relocated to more convenient locations? How come they appear to be on private properties, therefore encroaching on land owner's private rights of ownership? Beats me especially when JDC is a statutory body tasked with overseeing development in Jeju. Perhaps it wasn't really an issue before it was turned into an one?

Posted by gnimalu23 > 2016-03-28 22:00 | Report Abuse

http://www.businesskorea.co.kr/english/news/industry/11565-potential-disaster-berjaya-jeju-resort-halts-construction-yerae-resort-complex

Posted by lmseng > 2016-03-29 09:53 | Report Abuse

quarterly results today?

Posted by 爱丽丝 梦幻世界 > 2016-03-29 11:50 | Report Abuse

Fantastic results? Who know already ?

Posted by Jimmy Yan Chun Yeen > 2016-03-29 11:57 | Report Abuse

Not expecting the result be good as most subsidiaries are not performing well

Posted by ganasai > 2016-03-29 12:44 | Report Abuse

This is already known. Very weak. Dont know how to do business, other company doing property very good. This one very very weak. Korea case how... hai. Management very weak.

Posted by Eddysurge > 2016-03-29 13:17 | Report Abuse

Agreed with ganasai, property bussiness can gain huge no matter where the ground located. Since bjcorp have the resources & experience to build the bj resorts & time square. Only the insider know what happen.

Posted by tt101 > 2016-03-29 14:31 | Report Abuse

report might show good ow

Posted by ganasai > 2016-03-29 15:04 | Report Abuse

if good may also just due to sell off the assets like share. Need exact business income. This is only can work long term. otherwise how much assets can sell?

Posted by kahhoeng > 2016-03-29 15:38 | Report Abuse

quarter report most likely out only on the 31st... BJCorp should be expected to book gain on disposal of Magni-Tech despite dismay performances from subsidiaries. One potential upshot would be the completion/handover/book gain on revaluation of Menara Bangkok Bank. Ritz-Carlton Residences has yet to be completed. Wonder if BJCorp can book gain on Menara Bangkok Bank when the next building is yet to be completed?

Posted by cyphua > 2016-03-29 16:42 | Report Abuse

Feeling not good. price push up to RM0.420 after lunch and drop back minimum to RM0.405.

Posted by klkk > 2016-03-29 17:09 | Report Abuse

prelude of a bad quarterly result?

Posted by klkk > 2016-03-29 17:11 | Report Abuse

dropped to 40.5 with heavy selling!

Posted by posby > 2016-03-29 18:07 | Report Abuse

like last time... huge selling den get vietnam project... this time huge selling big profit... haha

Posted by yjinnvy > 2016-03-29 18:25 | Report Abuse

Only earn 0.37sen per share this quarter....

Posted by ugorrkim > 2016-03-29 18:35 | Report Abuse

Wow...still got earn consider not bad in current enviroment

Posted by Up_down > 2016-03-29 18:41 | Report Abuse

BJCorp was able to make a small profit. Not bad. It will book profit arisen from selling of investments in Magni, BJAuto, BJFood with a gross proceeds of RM 364 million in coming quarter.

Posted by Angielim9955 > 2016-03-29 18:48 | Report Abuse

so how, guys any comment keep top up when price low or just cut loss due to report no good ?

Posted by posby > 2016-03-29 18:50 | Report Abuse

last year 1billion impairment gain... this year don have...consider ok la... else add 1billion thing will be diff...

Posted by yjinnvy > 2016-03-29 18:57 | Report Abuse

Angielim9955, depending la. For me is consider meet expectation and just increase my holding at 0.41 last few days. Next quarter will be big profit as what Up_down said. And also accumulated for Vietnam lottery business. Be patient...

Posted by speaking_up > 2016-03-29 19:36 | Report Abuse

Profit down 98%.
http://www.malaysiastock.biz/Latest-Announcement.aspx

Posted by kahhoeng > 2016-03-29 19:36 | Report Abuse

I am actually a bit disappointed with the numbers... The cash in hand not increases by much and debt level actually increased... Wonder when will the proceed from menara Bangkok bank will come in? But agree with yjinvy, mainly buy for the Vietnam lottery business, followed by completion of Menara Bangkok Bank/Ritz-Carlton Residences, Japan property, and disposal of China business, then solution for South Korea property project.