Posted by Eddysurge > 2020-02-28 16:39 | Report Abuse

Please correct me what is net profit for both companies.

Posted by kelvin17 > 2020-02-28 18:22 | Report Abuse

once with the change in government we have better hope , bursa will be more strict ..and co can not simply reporting

Posted by kahhoeng > 2020-02-28 22:16 | Report Abuse

very little is told, we have yet to see more details, sigh!

Posted by stockraider > 2020-02-28 22:37 | Report Abuse

The whole disposal give a gain Rm 600m mah...!!
__-----------------------------------------------------------
The Disposal provides an opportunity for the BCorp Group to monetise its investments in the
Hotel at a very attractive price with estimated gain exceeding RM600 million.
“I am happy to dispose this Hotel which is only about 3½ years old for a huge gain. Together
with the 23 units of the Four Seasons Kyoto residences which were already sold and the
estimated profit from the potential sale of the remaining 34 units of the residences, the BCorp
Group is expecting to realise a total net gain of about RM1.55 billion with gross cash inflows
surpassing RM3.22 billion for our entire Four Seasons Hotel and Residences project in Kyoto.”
said Tan Sri Dato’ Seri Vincent Tan, the Executive Chairman of BCorp.
- END -"

Posted by wantanmi > 2020-02-28 23:25 | Report Abuse

More details from the Star today...

Berjaya Corp sells Kyoto hotel for RM1.87b
CORPORATE NEWS
Friday, 28 Feb 20204:40 PM MYT

“I am happy to dispose this hotel which is only about 3½ years old for a huge gain," said BCorp executive chairman Tan Sri Vincent Tan.

KUALA LUMPUR: BERJAYA CORPORATION BHD (Bcorp) is selling the hotel component of Four Seasons Hotel and Hotel Residences Kyoto, Japan to Godo Kaisha Tigre for 49bil yen (RM1.87bil).

It said on Friday the disposal of the hotel by its subsidiary, Kyoto Higashiyama Hospitality Assets Tokutei Mokuteki Kaisha (KHHA) was targeted to close in mid-March this year.

Another Bcorp subsidiary Berjaya Kyoto Development Kabushiki Kaisha (BKD) will lease back the hotel from Tigre for 17 years to maintain the present arrangements and operations of the hotel.

The five-storey hotel is a five-star rated with two basement floors and 123 guest rooms. It started operations in 2016 and it is managed under the Four Seasons brand by Four Seasons.

BCorp said the sale consideration represents a premium of 5.20bil yen (RM198.76mil) or about 11.87% over the market value of the hotel of 43.80bil yen.

It is also a premium of 25.55bil yen (RM976.62mil) or about 108.96% over the audited net bok value of the hotel as at June 30 of 23.45bil yen.

“The total cost comprising the cost of the land, construction and development costs of the hotel since May 11,2012 up to completion of the construction of the hotel on June 30,2016 is 26.11bil yen (RM998.03mil), ” it said.

BCorp said besides the hotel, the BCorp Group also developed 57 units of residences and also operated under the brand name of Four Seasons Hotel & Hotel Residences in Kyoto, Japan. These residences are not part of the disposal.

The disposal provides an opportunity for the BCorp Group to monetise its investments in the hotel at a very attractive price with estimated gain exceeding RM600mil.

“I am happy to dispose this hotel which is only about 3½ years old for a huge gain. Together with the 23 units of the Four Seasons Kyoto residences which were already sold and the estimated profit from the potential sale of the remaining 34 units of the residences, the BCorp Group is expecting to realise a total net gain of about RM1.55bil with gross cash inflows surpassing RM3.22bil for our entire Four Seasons Hotel and Residences project in Kyoto” said BCorp executive chairman Tan Sri Vincent Tan.

BCorp said the proposed disposal enable the group to monetise the investments in the hotel at an attractive price.

“Based on the sale sonsideration of 49bil yen, the BCorp Group expects to realise an estimated gain on disposal of 16.03bil yen (RM612.73mi).

“As part of the proceeds from the proposed disposal will be used towards the repayment of bank borrowings, this will give rise to interest savings and in turn, will improve the BCorp group’s financial position.

“The proposed disposal will also unlock capital resources that are tied up in long term assets, thus improving the cash position of the BCorp group and providing the BCorp group with financial flexibility for its operations and future investments as and when they arise.

“The proposed leaseback will ensure that there will be no interruption to the existing operations of the hotel which is managed by BKD, ” it said.

TAGS / KEYWORDS:
Berjaya Corp , Vincent Tan , Four Seasons Hotel And Hotel Residences Kyoto"

Posted by stockraider > 2020-02-28 23:32 | Report Abuse

CORRECTLOH....THE 4 SEASON HOTEL SOLD FOR RM 1.87B...WITH RM 600M PROFIT, THAT MEANS CASH INFLOW IS RM 1.87B ON DISPOSAL COMPLETION AND REPORTED PROFIT OF RM 600M FOR BJGROUP LOH...!!

Posted by kahhoeng > 2020-02-28 23:59 | Report Abuse

minorities probably should write in to remind VT what he said during AGM, probably CC a copy to SC/BURSA too if the final announcement doesn't come with special dividend...

Posted by OceanSky > 2020-02-29 09:09 | Report Abuse

Kahhoeng,
How come BJLand makes 200 millions while BJCorp makes 600 millions?!?
BjLand share 50%, they take the profit after tax and expense, about RM201.9 million.
BjCorp will have the same profit after tax too.

Posted by OceanSky > 2020-02-29 09:09 | Report Abuse

“I am happy to dispose this hotel which is only about 3½ years old for a huge gain. Together with the 23 units of the Four Seasons Kyoto residences which were already sold and the estimated profit from the potential sale of the remaining 34 units of the residences, the BCorp Group is expecting to realise a total net gain of about RM1.55bil with gross cash inflows surpassing RM3.22bil for our entire Four Seasons Hotel and Residences project in Kyoto” said BCorp executive chairman Tan Sri Vincent Tan.

Posted by OceanSky > 2020-02-29 09:12 | Report Abuse

There are still 34 units residents un-sold.
Believe that at present COVID-19 issue, the sales will not happen soon.

Posted by OceanSky > 2020-02-29 10:00 | Report Abuse

Kahhoeng,
The greatest return from the above disposal is about the RM900 million proceeds to each of
BjLand and BjCorp; RM800 million will be used for bank repayment for each group.

BjLand total debt (as at 30-06-19) is of RM2,980 million
Less BjToto debt (as at 30-06-19) is of (RM1,120 million)
Debt under BjLand (as at 30-06-19) is RM1,860 million.
Debt repayment of BjLand is (RM 800 million)

The balance of debt under BjLand is RM1,060 million.
It shall be under manageable debt scheme.

Posted by wantanmi > 2020-02-29 12:38 | Report Abuse

When VT gives the greenlight, the best is yet to come...
https://ibb.co/WkcDF9V

Posted by OceanSky > 2020-02-29 15:56 | Report Abuse

Dear all,
The Kyoto Hotel with 123 rooms were sold.
The Hotel Resident, total 57 units; balance 34 units unsold.
I wonder once all residents were sold.
The ownership of the 800-year-old garden and pond surrounded by the Hotel rooms and Residents were still under Berjaya ?

Sound yes, as the Details of the Hotel under Clause 2.1 of the Proposal did not include the pond.

Posted by roundcateye > 2020-02-29 16:06 | Report Abuse

"Godo Kaisha Tigre"? What company is that? It can pay 1.8 b cash, but the company remains elusive to public (and online portals). ???

Posted by kahhoeng > 2020-02-29 19:49 | Report Abuse

VT mentioned about dividend upon selling kyoto four seasons, its useless to us minorities if promises not delivered accordingly. I haven't received a single cent of dividend despite VT made the promises in the last 2 AGM!

Posted by kahhoeng > 2020-02-29 19:50 | Report Abuse

Announce a dividend, even if its just a cent per share to show respect and appreciation to us minorities who decide to hold!

Posted by stockraider > 2020-02-29 19:59 | Report Abuse

sales n lease back mah....the hotel will be under berjaya loh...!!

Likely will manage the apartments in terms of letting out and maintenance loh..!!

Posted by OceanSky > Feb 29, 2020 3:56 PM | Report Abuse

Dear all,
The Kyoto Hotel with 123 rooms were sold.
The Hotel Resident, total 57 units; balance 34 units unsold.
I wonder once all residents were sold.
The ownership of the 800-year-old garden and pond surrounded by the Hotel rooms and Residents were still under Berjaya ?

Sound yes, as the Details of the Hotel under Clause 2.1 of the Proposal did not include the pond.

Posted by kahhoeng > 2020-03-01 17:51 | Report Abuse

if BJCorp and BJLand rise to above 0.60, guess VT is genuine to share the money from the asset disposal, otherwise, sigh!

Posted by leek > 2020-03-02 06:52 | Report Abuse

VT GOOD FRIEND WITH NEW PM AND SULTAN TOO... BUY ALL YOU CAN RM1.00 IS COMING

Posted by kahhoeng > 2020-03-02 08:29 | Report Abuse

haha... see no dividend, best no investment. Who cares who's the PM if no dividend declared?

Posted by Jeffreyteck > 2020-03-02 09:55 | Report Abuse

Finally 0.16.

Posted by Sebastian Power > 2020-03-02 15:38 | Report Abuse

VT only friend with money. Wonder how low will it drop

Posted by Leong1982 > 2020-03-02 15:53 | Report Abuse

Boss doing charity by allowing you all to buy cheap, did you buy yet?

Posted by Leong1982 > 2020-03-02 15:53 | Report Abuse

after market rebounds, no more chance to buy below 18c

Posted by Eddysurge > 2020-03-02 18:26 | Report Abuse

Boss charity this way, next time you been charity back.

Posted by Eddysurge > 2020-03-02 18:36 | Report Abuse

Here, they're prison many investors this way, trust me. Unless they release prisoners.

Posted by Leong1982 > 2020-03-02 19:22 | Report Abuse

many got trapped since price was around RM0.80 5 years ago...
Time for the boss to show minority shareholders he has a kind heart hahaha

Posted by Eddysurge > 2020-03-02 20:15 | Report Abuse

They want your shares badly.

Posted by Eddysurge > 2020-03-02 20:29 | Report Abuse

Already low, still press .. At right time, I really wanted to be minority so can vote, but currently can't vote through e voting through mobile system provided by SC.

Posted by kahhoeng > 2020-03-03 00:04 | Report Abuse

media@berjaya.com.my

Dear Lydia,

With reference to the Kyoto Four Seasons disposal, may I know
(1) if the board has considered letting Four Seasons deal directly with the new owner instead of through an entity owned by BJCorp/BJLand? Is the arrangement in the proposal offer a better returns, current and future? If yes, what's the additional total return looks like?

(2) if BJLand's shareholders be required to attend a BJLand EGM for the said disposal like in the case for BJCorp?

(3) if the management of BJLand too busy or finding BJLand minorities ignore-able to simply refer BJLand minorities to BJCorp's announcement? There's a section in the BJCorp's proposal that evaluate the effect of disposal on BJCorp's net asset, gearing and earning. There isn't any such disclosure on BJLand's. Are minorities of BJLand not entitled to know the disposal impact on BJLand's net asset, gearing and earning?


During 2018's AGM, I have requested Tan Sri Vincent Tan to consider a dividend given a recovered balance sheet of both BJCorp and BJLand, and I was told there'll be one for FY 2019. Unfortunately, there's any for FY 2019 despite asset disposal in Vietnam. When the issue of dividend was raised again during 2019's AGM, Tan Sri Vincent Tan promised me that a dividend shall be offered to minorities upon the disposal of Kyoto Four Seasons. However, reading through proposal, it's a huge disappointment realizing that there isn't any allocation for dividend. May I know if Tan Sri Vincent Tan is aware of this? If a decision has yet to be made, may I plead to both the board of directors of BJCorp and BJLand as well as majority shareholder, Tan Sri Vincent Tan, to honor Tan Sri's words during both AGMs?


Best regards,

a minority shareholder of both BJCorp and BJLand

Posted by OceanSky > 2020-03-03 08:33 | Report Abuse

Dear Kahhoeng,
The answer for the question (2) and first part of (3),
BjLand owned 50% KHHA (the owner of Four Seasons Hotel Kyoto), as an associated company. As BjCorp have ultimate say on KHHA board of director, even thought BjCoep have equal share.

Therefore, BjLand could only enjoy the same benefit of profit (RM201 million) and proceeds (RM901 million), but no say at EGM and public announcement.

Posted by OceanSky > 2020-03-03 08:40 | Report Abuse

The history should back to year 2015, BjLand was not able completed Four Seasons Hotel Kyoto by their own financial strength. Therefore, there was an rescue plan from BjCorp to take 50% ownership of KHHA from BjLand.

The interesting part of the deal is, with the same share holding, who shall have the ultimate decision on KHHA.
The answer is as above, and KHHA become associated company of BjLand.

Posted by OceanSky > 2020-03-03 08:45 | Report Abuse

Correction:
BjLand regards Berjaya Kyoto Development (S) Pte Ltd ("BKDS"), as its associated company.
Then BKDS own 100% of KHHA, Japan.

Posted by OceanSky > 2020-03-03 08:54 | Report Abuse

Yesterday,
Market have responded positively to BjCorp to closed at 23.0 sen.
And BjLand closed event at 16.5 sen.

Notified from some of the securities were spreading the very good results from BjCorp (only).
They were miss-understood that the good news only related to BjCorp, as announcement was from BjCorp and EMG only called at BjCrop level.

Even-thought BjLand have give one notice to claim their share of profit of RM201 million (nett).
The market does not spread or even aware that BjLand having the equal benefits with BjCorp.

Therefore, we need more forums and platforms to share the good news with others.

Posted by wantanmi > 2020-03-03 09:12 | Report Abuse

The only way BJCorp can exert 100% control of FSKyoto sale to benefit from the RM600 million profit is to privatize BJLand.that's why the Macais don't want you to buy at current pressed down price...by the way its now or never! as Dow Jones just up 1294 points due to Trump...

BjLand regards Berjaya Kyoto Development (S) Pte Ltd ("BKDS"), as its associated company.
Then BKDS own 100% of KHHA, Japn

https://www.cnn.com/2020/03/02/investing/dow-stock-market-today/index.html

Posted by freetospeak > 2020-03-03 09:31 | Report Abuse

bjland with 900 million cash inflow from kyoto disposal n rm1billion expecting from jeju case....with almost rm2billion cash incoming within this year, either bjland give a very high dividend to pay to bjcorp as major shareholder...or bjcorp privatise it . otherwise bjcorp can c... cannot touch. of course bjland can use the fund to pay off its loan instead.

Posted by kahhoeng > 2020-03-03 09:31 | Report Abuse

err... I'm no insider, got no idea how Kyoto Four Seasons is treated in BJLand's balance sheet. It would be a misconduct if BJLand doesn't disclose it...

Posted by freetospeak > 2020-03-03 09:33 | Report Abuse

if VT gonna pay a dividend ...u will c the price spike up la..if not no dividend...

Posted by freetospeak > 2020-03-03 09:34 | Report Abuse

may b 1 sen dividend so no spike up

Posted by freetospeak > 2020-03-03 09:37 | Report Abuse

if bjland can win jeju case..may b VT will give 5 sen dividend...kyoto disposal not enuff.

Posted by wantanmi > 2020-03-03 11:32 | Report Abuse

Don't forget RM600M coming from GMOC Arbitration. Out be4 May....

"B. GMOC case, The arbitral tribunal is currently in deliberations and a decision is expected during the second quarter of 2020. Means result shall be out before June-2020.
Once the case close, there is inflow of RM600 mil ++"

Posted by kahhoeng > 2020-03-03 13:36 | Report Abuse

That's not what VT promised during AGM, he said dividend if kyoto four seasons sold, and many heard him saying, I'm not the only one!

Posted by Jeffreyteck > 2020-03-03 15:00 | Report Abuse

Proceeds from kyoto is about the same of long term loans amount. Improve gearing or give dividend (how many sen can give)?

Posted by wantanmi > 2020-03-03 16:22 | Report Abuse

Long term loans are meant for long term, normally for assets acquisition. A shrewed Bizman like VT would utilize the cash proceeds from FSKyoto sales in the form of dividends to finance cash flow for short term operations during bad times like now...Since BJCorp owns 85% of BJLand it will get the lion's share of cash sales proceeds from FSKyoto hence VT's promise to pay dividends...

Posted by stockraider > 2020-03-03 16:24 | Report Abuse

Very beneficial for berjaya loh....!!

Bank Negara lowers OPR by 25bps to 2.5%
Author: savemalaysia | Publish date: Tue, 3 Mar 2020, 3:14 PM

KUALA LUMPUR: The Monetary Policy Committee (MPC) of Bank Negara Malaysia decided to reduce the Overnight Policy Rate (OPR) by 25 basis points to 2.50%.
It said the ceiling and floor rates of the corridor of the OPR are correspondingly reduced to 2.75% and 2.25%, respectively.

The reduction in the OPR is intended to provide a more accommodative monetary environment to support the projected improvement in economic growth amid price stability. The MPC will continue to monitor and assess the balance of risks surrounding the outlook for domestic growth and inflation.

Posted by OceanSky > 2020-03-03 21:22 | Report Abuse

Dear all,

Let us analyse the corporate proposals (B7) and litigation (B9) of BjLand:

A. STC case, it has new hearing date of the Main Appeal on 27 March 2020, it made STC case will go on for some-times.

B. GMOC case, The arbitral tribunal is currently in deliberations and a decision is expected during the second quarter of 2020. Means result shall be out before June-2020.
Once the case close, there is inflow of RM600 mil ++

C. BVFC and BVIUT case. The disposal nego started 4 June 2018. Value RM155 mil + others.
Once the deal closed, there is inflow of RM155 mil ++

B9. JDC Lawsuit, Jeju.
The court has fixed 9 January 2020 for delivery of the judgment.
On 9 January 2020, the delivery of the court's judgement was postponed to 6 February 2020.
On 6 February 2020, the court further postponed the delivery of its judgement to an unspecified date.
This means both parties still unable to come to an agreement.
Once the deal closed, there is inlfow of RM600 mil to RM1,000 mil. (As VT seek for )

On top of the above, the additional could be:

1. Disposal of Seraton Hotel at Hanoi, It could bring in inflow of RM500 mil ++.

2. Disposal of Four-Seasons Hotel at Kyoto. It could bring in inflow of RM1,600 mil (To BjLand).

21/02/2020 9:57 AM

My correction:
The Four-Seasons Hotel Kyoto, only bring inflow of RM910 million (to BjLand).

For the other proposals, we shall monitor their progress from time to time.

The good news is, all of the proposals are directly benefits BjLand. unlike the Kyoto Hotel.
BjLand only could declare RM201 million sharing of profit with BjCorp,

Posted by DickyMe2 > 2020-03-04 19:36 |

Post removed.Why?

Posted by kasinathan > 2020-03-05 09:58 | Report Abuse

Great job on updating various asset disposals and expected gain derived from litigation settlements as well.

At the current price, bland is definitely under value. The only concern is VT might not be declared any dividend from these exercises but utilized the money for the new investments or reducing debts.

Until then, keep testing your patience and prepare to absorb the opportunity cost as nothing changes in stock price while no dividend being declared. You only with the eyes open to see other stocks keep moving while bland remained the status quo....you realize the year 2020 is gone....

Posted by kasinathan > 2020-03-05 10:06 | Report Abuse

History is the best guru. It's pretty hard to make money from VT's stocks except bjtoto and bjauto that generate sufficient cash flow to pay dividend.

Others... Hmm.. Guarantee you wasting your time and money but the return certainly not commensurate....

Posted by wantanmi > 2020-03-05 10:19 | Report Abuse

Just wondering why the great efforts by VT Macais to discourage people to buy? mmmm...shares swap/privatisation soon to access all the money & assets under BJLand control?