Kahhoeng, has you complaint Penta's deal to Bursa? If yes, thanks. If no, pls do so. Team kahhoeng err... still here, nothing to say. I have raised my concern over the Penta's deal, VT buying BJLand using his own account, blah blah blah. There's nothing more to say except waiting to see what's VT next move. 15/08/2019 11:30 PM
After more than 1 week of over 85% limit, still no news from bursa nor bjland office. Yes, I agree nothing to be proud of. This bjland is worth much than this. If this company well managed, every quarter will make profit and distribute the profit to the investors by looking at average 1.5 billion revenue every quarter.
It can make money if managed well. Right now, everybody needs to work as a team to make complaints against any approval of lower public shareholding spread. Instead, ask Bursa M and SC to instruct TSVT to buy back all shares not owned by him at least at the price of NTA RM 0.85. Normally, Bursa should have approved alredy without thinking much especially without objection BJLand minority shareholders. Now Bursa has to think twice and considering some of our complaints. DO IT AS A TEAM IF YOU WANT TO WIN, NOT LOSS.
Some of my last mail content:Bursa has not concerned well about the benefits of minority shareholders as there are many more cases.
We wish to advice Bursa (and SC)
1) instructing TSVT (BJLand substantial shareholders and its Companies BJCorp and others) to buy back all shares not owned by him at a very good price, at least its NTA of RM0.85. Don't allow BOD of BJLand to reduce anymore public shareholding spread immediately and officially. Bursa should know it is Bursa mistakes to allow so for already 9 years down the road from share price from more than 80 cents to today price of about 18.5 cents as we mentioned in the emails we sent to you before.
2) adopt the best practices delisting rules that recently adopted by Singapore exchange SGX to protext smaller shareholders.
These ensure that not only do minority shareholders have a major say in whether a company gets delisted, but they will also not be shortchanged in terms of the price that is offered to them.
Dear Sirs/Madams, Further to my complaint above, I need to insert the details of how BoD of BJLand and its substantial shareholders BJCorp and Tan Sri Dato’ Seri Vincent Tan Chee Yioun have never explored all possible options to meet the Public Spread within the extended period and worse still have never formulated any formal rectification plan to address the shortfall in the Public Spread since 18 August 2010 (Bursa Malaysia started approved BJLand application for acceptance of a lower public shareholding spread of 20%) through 20 December 2018 (Bursa Malaysia Securities Berhad had approved a minimum public spread of 15% AGAIN) AND NOW ON 2 AUGUST 2019 the public shareholding spread of BLand is 14.86% PROVE THAT IT HAS NO INTENTION TO COMPLY with the required shareholding spread. During these 9 years time, BURSA MALAYSIA does not follow up closely and does not care about this matter. We as shareholders (minority) feel very disappointed as it has jeopardize our benefits, what more it shares price has been decreasing till 16 cents on 2 August, 2019 with its market capital of RM 800 million only which is far less than RM 1 billion.
I have sent an e-mail to Bursa Malaysia (aduan@bursamalaysia.com, Chairman Datuk Shireen Ann Zaharah binti Muhiudeen (603) 2034 7338 Chairman@bursamalaysia.com AND SID Datuk Karownakaran @ Karunakaran a/l Ramasamy (603) 2297 2101 karu.kr@gmail.com) The rest, please cooperate and send it to other parties accordingly)
Dear Sirs/Madams, Greetings. We as shareholders of BJLand have been complaining against Bursa Malaysia that allowed public shareholdings spread from a minimum of 25% down to a minimum of 20% and then down to a minimum of 15%.
Guys, below statement are from Bursa, some comments in reply to me:
In relation to BJLAND, the Exchange has granted Acceptance of Lower Spread of 20% and subsequently upon further application, of 15% in accordance with the MMLR after having considered all the facts and circumstances of the Company as presented to the Exchange.
We take note that BJLAND has announced that the Company Public Spread has fallen below the allowed threshold of 15%. The Exchange also takes note that the Company intends to submit an application for an extension of time to comply with the Public Spread. Please be assured that we are looking into the matter and will take the relevant action, including where applicable the relevant enforcement actions where the Company is found to be in breach of the MMLR.
Stress that BJLand is found to be in breach of the main market listing requirements(MMLR) as Company Public Spread has fallen below the allowed threshold of 15% and we minority shareholders against the approval of lower public shareholding spread.
I m all for u to support bland but your complain cannot work loh...!!
Why leh ?
Posted by shortinvestor77 > Aug 16, 2019 11:38 AM | Report Abuse
Some of my last mail content:Bursa has not concerned well about the benefits of minority shareholders as there are many more cases.
We wish to advice Bursa (and SC)
1) instructing TSVT (BJLand substantial shareholders and its Companies BJCorp and others) to buy back all shares not owned by him at a very good price, at least its NTA of RM0.85. Don't allow BOD of BJLand to reduce anymore public shareholding spread immediately and officially. Bursa should know it is Bursa mistakes to allow so for already 9 years down the road from share price from more than 80 cents to today price of about 18.5 cents as we mentioned in the emails we sent to you before. BASED ON LAW BURSA CANNOT INSTRUCT VT TO BUYBACK BLAND AT RM 0.85, BURSA CAN ONLY THREATEN TO DELIST BCOS OF VT 85% BUT THAT WILL BE HELPING VT TO THE DETRIMENT OF MINORITY IF BURSA DO THAT
2) adopt the best practices delisting rules that recently adopted by Singapore exchange SGX to protext smaller shareholders. WHAT HAPPEN IN SPORE IS NOT MSIA MAH....BUT EVEN IF BURSA WANT TO ADOPT SPORE THAT WILL TAKE TIME & THAT IS NOT ENOUGH TIME FOR IT TO BE IMPLEMENTED AS A RULE B4 VT LAUNCHED AN OFFICIAL ATTACK LOH..!!
https://www.straitstimes.com/business/companies-markets/sgx-changes-de... These ensure that not only do minority shareholders have a major say in whether a company gets delisted, but they will also not be shortchanged in terms of the price that is offered to them. YES WE LIKE THAT, BUT IF U DON ALLOW THE MKT TO DETERMINE WILLING BUYER AND WILLING SELLER PRICE AND IMAGINE BURSA SET THE TAKEOVER PRICE AT RM 0.85, U THINK VT AS A BUSINESSMAN WILLING TO BUY AT THIS PRICE RM 0.85 MEH ?
THE SOLUTION HERE IS TO GET MORE & MORE INVESTORS TO BUY OR COLLECT BLAND, SO THAT WHEN VT LAUNCH THE TAKEOVER HE HAS TO OFFER A FAIR HIGHER PRICE FROM CURRENT RM 0.21 MAH.....!!
YES WE SHOULD GANG UP AND START PROMOTING BLAND LOH...!! THE AUTHORITY CAN HELP BUT IT HAS LIMITED POWER, AS IT NEED TO LOOK AT BOTH SIDE OF THE STORY MAH...!!
Date: Fri, Aug 16, 2019 Subject: Requesting Bursa Malaysia to take immediate actions against BJLand To: <Chairman@bursamalaysia.com> Cc: <karu.kr@gmail.com>
Dear Sirs,
Greetings. I am a small shareholder of BJland.
I would like you to perform you duty to protect the benefits of small shareholders and thus immediately take stern actions against BJLand application of lower public shareholding spread to a lower of 15% and also ordering TSVT and its controlled Companies (BJCorps and others) to offer minority (small) shareholders at the price of at least its NTA RM0.85.
Tracking the history of Bursa Malaysia has been approving and granting lower public shareholding spread for BJLand for 25% (standard procedure during IPO) down to 20% and then down to 15% without concerning the benefits of small shareholders, and the BoD of BJLand keep promising to explore all possible options to meet the Public Spread within the extended period and formulate formal rectification plan to address the shortfall in the Public Spread but never never done, I am therefore very sad to see these things to reoccur in the near future. The stock price has incurred a downward trend from more than 80 cents to about 20.5 cents as per yesterday price. Many of small shareholders incurred a loss due to these approval actions by Bursa Malaysia during these 9 years.
Now it is the right juncture for Bursa Malaysia to take a wise decision to really protect the benefits of small shareholders. Now the substantial shareholders have been accumulating shares with very cheap price and expecting they are going to continue so as this is a lucrative business for them. Please stop their immoral actions of sacrificing the benefits of small investors/shareholders by commanding them to buy back shares not owned by them immediately at least at the NTA RM 0.85. Don't let them benefits more with lower than this price.
Thank you. Hope to hear a very good new from you soon.
i only hope VT willing to buy at higher price then everyone can huat here...lol...VT is an alligator so to manipulate the share price is an easy job for him...cash is king, i think 90% of the population is the share market have no idea about cut loss point thus many will stuck at the high range and keep average down till the lowest. I kena many times before and to me, averaging only can be done when the stock is started moving upwards again and not during downtrend. I still remembered there is one counter called Hengyuan, dropped from RM19 to RM5, imagine if you average all the way down....mati lor...don't scold him/her as nobody will pity you when you are losing money in this cruel share market. i really hope there are good news for this counter and let everybody earns some $$$.
Its good to write to bursa, i suggest just like the petition,someone draf a letter and put up all shareholders name than only email to bursa. I wil be first to support,my name CL Tay.
TQ, Betty. Now or never! Bettyem Already sent the email. Let's hope all minority shareholders do it to show Bursa/SC and VT we mean business! 16/08/2019 12:55 PM
We want to show more quantity, Lim; from time to time. Beter no ending for Bursa Chairman to handle it.
Lim Ha Its good to write to bursa, i suggest just like the petition,someone draf a letter and put up all shareholders name than only email to bursa. I wil be first to support,my name CL Tay. 16/08/2019 2:27 PM
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skyu
2,497 posts
Posted by skyu > 2019-08-16 09:47 | Report Abuse
come let's build the volume and price