Posted by scanluver > 2020-04-26 21:06 | Report Abuse

The company's executive chairman Tan Sri Vincent Tan said in order to sustain the group which has been adversely affected owing to the temporary closure of its core businesses following the imposition of the Movement Control Order by the government, certain business units might need to be downsized and this could involve the retrenchment of "surplus staff." - About time!

https://www.nst.com.my/business/2020/04/587495/berjaya-group-announces-austerity-measures-deal-covid-19

Posted by kahhoeng > 2020-04-26 21:34 | Report Abuse

Retrenching surplus staff is long overdue...

Posted by wantanmi > 2020-04-26 21:37 | Report Abuse

Yup! It's about time to get rid of all the "surplus staff" aka macais & implement VT's long delayed restructuring plan for BJGroup after sales of FSKyoto, while still got cash?

https://www.theedgemarkets.com/article/vincent-tan-restructure-his-business-empire

Posted by Loh Kok Wai W > 2020-04-27 10:01 | Report Abuse

ular counter.....dracula hisab darah.......drink your blood.

Posted by Paulnga > 2020-04-27 10:29 | Report Abuse

Ah Tan got pay cut or not?

Posted by scanluver > 2020-04-27 10:46 | Report Abuse

Rain or shine, Tan & Sons get full package :D

Posted by stockraider > 2020-04-27 11:08 | Report Abuse

VERY GOOD NEWS TO CUT COST LOH....!!

DESPITE HOLDING HUGE CASH FROM KYOTO HOTEL SALES, OWNER STILL INSIST CUT COST LOH...!!

VERY DARING & POSITIVE ACTION LOH....!!

Posted by Alex™ > 2020-04-27 19:57 | Report Abuse

stockraider sifu...can buy what?

Posted by limsawkean1998 > 2020-04-28 14:48 | Report Abuse

Hope can give dividend.
Or special dividend 20sen as sell assets and also bjland got 10% bonus on discount
Seem good news on this time

Posted by scanluver > 2020-04-28 22:22 | Report Abuse

Silly..... Isn't the pandemic the perfect excuse not to issue any dividends?

Posted by Paulnga > 2020-04-29 11:11 | Report Abuse

Tan family got pay cut?

Posted by wantanmi > 2020-04-29 18:00 | Report Abuse

Yup! Keep it up...Sedikit2...Lama2 Jadi Bukit....already 5.08% shares buyback...left only 4.92% to go?

Posted by everest > 2020-05-01 13:29 | Report Abuse

coming soon

Posted by Tiong Kung King Zien > 2020-05-03 04:20 | Report Abuse

20 yrs ago this bjcorp hard up

Posted by mf > 2020-05-03 04:29 | Report Abuse

Dow drops more than 600 points to start the new month, Amazon falls 7%

Posted by wantanmi > 2020-05-04 17:43 | Report Abuse

Yup! Keep it up...Sedikit2...Lama2 Jadi Bukit....already 5.37% shares buyback...left only 4.64% to go? Almost time...

Posted by ValuePrice > 2020-05-04 18:25 | Report Abuse

To be honest, Berjaya performance is the exact opposite of its name. Too many nonperforming subsidiaries Mismanagement at the largest scale

Posted by ValuePrice > 2020-05-04 18:25 | Report Abuse

just see how they manage their hotel business, really tarak standard. should sell much earlier...sigh

Posted by scanluver > 2020-05-04 22:19 | Report Abuse

How do you expect a business empire filled with cronies to perform?

Posted by wantanmi > 2020-05-04 22:45 | Report Abuse

Yup! Even international funds like BlackRock & Dimensional funds are dumping in open market lately. Only saving grace is the daily shares buyback by BJCorp...

Posted by kahhoeng > 2020-05-05 08:54 | Report Abuse

With BJCorp recent share buy back of almost 280 million shares at less than 0.20 per share, its equivalent to BJCorp buying Penta's BJLand shares at 0.25 per share, i.e., (0.20*0.38/0.30), instead of the claimed 0.38 per share.

Posted by Alex™ > 2020-05-05 23:53 | Report Abuse

sharebuyback kurang 50% suddenly. vincent tan no money d? haha

Posted by kahhoeng > 2020-05-06 10:12 | Report Abuse

May 05's traded volume is a mere 8 million, BJCorp's buying back of 5 million shares already accounts for more than 60% of traded volume.

Posted by wantanmi > 2020-05-06 12:06 | Report Abuse

Yup! Reason why VT is defending BJCorp thru share buyback?

"Tan will sell his majority 46% stake in 7-Eleven Malaysia Holdings to BCorp, which will then launch a takeover offer to buy out the convenience store chain operator. Based on yesterday’s closing of RM1.27, 7-Eleven Malaysia Holdings’ market capitalisation stood at RM1.56 billion. Tan’s stake is valued at RM756.8 million.

Meanwhile, BCorp may carve out the hotel assets from BLand, in which it controls a 70.32% stake, and float the assets in Singapore. BLand, which is trading at a sharp 77.8% discount to its net asset per share of 81 sen, will be taken private."

https://www.theedgemarkets.com/article/vincent-tan-restructure-his-business-empire

Posted by kahhoeng > 2020-05-06 17:40 | Report Abuse

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3048683

BERJAYA CORPORATION BERHAD


Date of buy back 06 May 2020
Description of shares purchased ORDINARY SHARES
Currency Malaysian Ringgit (MYR)
Total number of shares purchased (units) 5,000,000
Minimum price paid for each share purchased ($$) 0.200
Maximum price paid for each share purchased ($$) 0.200
Total consideration paid ($$) 1,003,480.00
Number of shares purchased retained in treasury (units) 5,000,000
Number of shares purchased which are proposed to be cancelled (units) 0
Cumulative net outstanding treasury shares as at to-date (units) 290,000,000
Adjusted issued capital after cancellation
(no. of shares) (units) 5,214,924,527
Total number of shares purchased and/or held as treasury shares against total number of issued shares of the listed issuer (%) 5.56000

Posted by wantanmi > 2020-05-06 18:38 | Report Abuse

Yup! Keep it up...Sedikit2...Lama2 Jadi Bukit....already 5.56% shares buyback...left only 4.44% to go? Almost there?...

Posted by KWSI7317 > 2020-05-06 18:54 | Report Abuse

At the end of thr day, what vt would do with these share buy back?

Posted by Alex™ > 2020-05-06 19:53 | Report Abuse

When can release from prison?

Posted by KWSI7317 > 2020-05-07 02:26 | Report Abuse

this prison has not light under the tunnel.

Posted by sailang_now > 2020-05-07 12:58 | Report Abuse

Must know when to leave the party before the buyback ends. Anybody noticed, not many VT operators asking you to leave compared to BJLand?

Posted by KWSI7317 > 2020-05-07 13:38 | Report Abuse

please tell your next generation not to touch bj stock.

Posted by bbc99 > 2020-05-07 14:34 | Report Abuse

Hold for 1 year, u will see fruitful result.

Posted by scanluver > 2020-05-07 16:19 | Report Abuse

1 year? Pok-Kai liao. LOL

Posted by KWSI7317 > 2020-05-07 18:12 | Report Abuse

I heard it 4 years back.

Posted by gangnam > 2020-05-07 20:19 | Report Abuse

Lol...Uncle Tan doesn't want anybody to leave like International Funds before he sells 7-Eleven to BJCorp for a premium...so buyback everyday?

Posted by bbc99 > 2020-05-08 09:43 | Report Abuse

Baby slowly starts her first step liao

Posted by abc333 > 2020-05-08 10:10 | Report Abuse

Malaysia Considering Regulation Of Online Gambling Malaysia's deputy communications minister has revealed the government is considering a licensing and taxation regime for gambling websites to stem "massive" revenue losses.

Posted by firehawk > 2020-05-08 10:15 | Report Abuse

should allow online gambling ... if u want to holy, why u let the physical Genting operates? if u already let even the physical casino operate, why u ban online gambling? lose a lot of revenue and tax to others!

Posted by wantanmi > 2020-05-08 10:38 | Report Abuse

Yup! If VT gets the online gambling license due to the need for contactless gambling & social distancing needs to minimise Covid-19 infections, it will be parked under BJToto (which holds Berjaya's gambling license) which is 40% owned by BJLand as the main beneficiary?

Posted by kahhoeng > 2020-05-08 11:54 | Report Abuse

wantanmi, bjcorp already own a online sports betting license that can't be used. it would be stupid to pay another huge sum to only see another license that may never be utilized...

Posted by wantanmi > 2020-05-08 12:14 | Report Abuse

Yup! What BJCorp sports betting license? when it has been revoked. Maybe thats why International funds are selling down BJCorp since no future?

"But the licence renewal approval was revoked on Oct 5, 2010 and the security deposit of RM10 million, in the form of bank guarantee, was returned entirely to Ascot Sports, said MoF."

https://www.theedgemarkets.com/article/no-plan-reissue-sports-betting-licence-putrajaya-says

Posted by sailang_now > 2020-05-08 12:29 | Report Abuse

As mentioned earlier. Must know when to leave the party before the buyback ends.

Posted by kahhoeng > 2020-05-08 15:58 | Report Abuse

wantanmi, and you forgot to add the following:

https://www.thestar.com.my/business/business-news/2010/05/17/is-berjaya-paying-too-much-for-ascot-stake

Is Berjaya Corp Bhd getting value for its money for the 70% stake it has proposed to acquire in Ascot Sports Sdn Bhd?

The price tag of RM525mil for the stake works out to RM9.37 per share based on Ascot Sports’ paid-up share capital of RM80mil comprising RM1 shares. The acquisition price is valued at six times price-to-earnings (P/E) ratio.

Posted by kahhoeng > 2020-05-08 16:05 | Report Abuse

wonder if BJCorp were ever returned the RM 525 million?!?

Posted by wantanmi > 2020-05-08 16:14 | Report Abuse

Yup! The money was never paid to VT as the transaction was called off?

Now back to the present, will VT execute his earlier plan to sell his stake in 7-Eleven to BJCorp at inflated price to the detriment of minority now that his personal investments in UK & elsewhere are having problems during the Pandemic!

"In 2010, Tan had planned to inject his 70% stake in Ascot Sports into Berjaya Corp Bhd (BCorp) for RM525 million cash. But he called off the plan when then Prime Minister Datuk Seri Najib Razak decided to backtrack on the government's decision to issue the betting licence"

Posted by kahhoeng > 2020-05-08 16:30 | Report Abuse

wantanmi, thanks for the update. So, a license may benefit BJCorp only in the long term, not short term, cause the upfront fee is high. Currently, BJCorp is already holding on to a Vietnam Toto license that has yet to provide BJCorp a decent return, not to mention a broadcasting license through ANSA (was the company name correct?).

Posted by KWSI7317 > 2020-05-08 18:14 | Report Abuse

this stock up 5sent like you strike 4d, when it's drop, it likes you eating meal everyday.

Posted by wantanmi > 2020-05-12 15:17 | Report Abuse

Yup! Just wondering why the focus on spending cash to buy 7-Eleven shares by BJGroup instead of paying dividend to shareholders? Is it something to do with successful privatization of Caring on 8 May, to pave the way for VT to use BJCorp to buy over his 7-Eleven shares at inflated price to bale himself out from setbacks in his personal investment overseas especially in UK to the detriment of minority again?
Btw Tan Thiam Chai the Chief Financial Officer at BJCorp just resigned as Executive Director at BJLand. Is it because his position already redundant due to comng corporate restructuring by VT?

https://www.bloomberg.com/profile/person/1587658

Date of change 08 May 2020
Name MR TAN THIAM CHAI
Designation Executive Director
Type of change Resignation
Reason In line with the current austerity measures undertaken by the Group.

Posted by wantanmi > 2020-05-12 15:20 | Report Abuse

https://www.bloomberg.com/profile/person/15876587

Posted by scanluver > 2020-05-12 19:03 | Report Abuse

wantanmi, why ask questions to which you already know the answer? Dividends is a cost and will be cooking in the backburner indefinitely. The writing is on the wall since HahaHuiHui has gone MIA :D

There's still a lot of fat that needs to be trimmed.

Yup! Just wondering why the focus on spending cash to buy 7-Eleven shares by BJGroup instead of paying dividend to shareholders? Is it something to do with successful privatization of Caring on 8 May, to pave the way for VT to use BJCorp to buy over his 7-Eleven shares at inflated price to bale himself out from setbacks in his personal investment overseas especially in UK to the detriment of minority again?
Btw Tan Thiam Chai the Chief Financial Officer at BJCorp just resigned as Executive Director at BJLand. Is it because his position already redundant due to comng corporate restructuring by VT?