Posted by Leong1982 > 2020-03-19 12:13 | Report Abuse

Jeju compensation coming in April or May according to korean news la

Posted by kelvin17 > 2020-03-19 14:03 | Report Abuse

Eddysurge if VT own 85% he will suffer the most , so this will not happen or sooner or later it has to come back . at this price level just lock it up and relax

Posted by Eddysurge > 2020-03-19 14:48 | Report Abuse

@ kelvin17, actually nothing to worry about.

Posted by Paulnga > 2020-03-19 15:17 | Report Abuse

Misai’s stock now Only 10 sen! 5 sen is coming?

Posted by kelvin8168 > 2020-03-19 18:53 | Report Abuse

wont be longer. boss macai already keep buying during drop.

Posted by kahhoeng > 2020-03-20 00:00 | Report Abuse

Reply from BJLand investor relation

Apologies for the late reply.

Please find below the response to your queries.

With reference to the Kyoto Four Seasons disposal, may I know :

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?
Berjaya: The Purchaser has requested that Berjaya continues to deal with Four Seasons based on the good performance and track record as well as other projects with Four Seasons. Hence, the Proposed LeaseBack following the proposed disposal of the trust beneficial interest in the hotel component of Four Seasons Hotel & Residences Kyoto, Japan (“Hotel”).


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

Berjaya: Pursuant to Listing Requirements of Bursa Malaysia Securities Berhad, BLand is not required to make any announcement and BLand shareholders’ approval is not required for the proposed disposal of the Hotel. Nevertheless, BLand has voluntarily announced a summary of the proposed disposal to Bursa Securities for information purposes.



(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?

Berjaya: Any announcement made is in compliance with the Bursa Securities Listing Requirements. In this case, BLand is not required to make any announcement. Please refer to our reply under Q2 above.



(4) 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?

Berjaya: The Executive Chairman of BCorp is also the major controlling shareholder of BCorp and he supports all dividend payout proposed by the Boards. The Boards of BCorp and BLand will do their best in the interest of their shareholders, in particular the shareholders’ requests for 2019/20 dividends. The Boards will look into the proposed dividend after taking into consideration the financial positions, performance and commitments of the BCorp and BLand group of companies.







Thank you and kind regards,
Lydia

Posted by Sslee > 2020-03-20 06:48 | Report Abuse

Is the reply CC to Bursa and SC? If not you can forward it to SC and Bursa asking them to verified whether bjland complied with SC and Bursa rule and regulation.

Posted by OceanSky > 2020-03-20 07:58 | Report Abuse

Appreciated Kahhoeng sharing on the Reply from BJLand investor relation:

Please compare,
Berjaya: Pursuant to Listing Requirements of Bursa Malaysia Securities Berhad, BLand is not required to make any announcement and BLand shareholders’ approval is not required for the proposed disposal of the Hotel. Nevertheless, BLand has voluntarily announced a summary of the proposed disposal to Bursa Securities for information purposes.

Mine:
The company announcement is by Law.
As Kyoto Hotel is an Associated to BjLand, by Law they does not need to declare any news.
However, we shall appreciate they have done their announcement on 28-02-2020.
At the same day, they did make announcement to claim that they could share profit of RM210 mil.

Posted by Eddysurge > 2020-03-20 08:58 | Report Abuse

Mine. After 3 & half years projects, plus landbank provided, only RM 210 million. Share price don't know why at 19 cents for long term, regards current fall to 12 cents and further.

Posted by wantanmi > 2020-03-20 09:17 | Report Abuse

Mine...why? Just as planned...albeit timing's not right due to Covid-19 & relisting at SGEX not conducive atm. Anyway get ready for share swap & delisting as proposed by VT earlier after sale of FSKyoto...
Btw Cash received is RM1.87 billion & profit made is RM620 million shared 50:50

Posted by kahhoeng > 2020-03-20 09:45 | Report Abuse

The reply is from Berjaya's Lydia. Don't know whether should email SC or BURSA for clarification. Guess will have to given I don't posses relevant knowledge.

Posted by Paulnga > 2020-03-20 10:03 | Report Abuse

Important thing pls say three times: Jeju! Jeju! Jeju! How is Jeju case today?

Posted by Eddysurge > 2020-03-20 10:08 | Report Abuse

Jeju! Jeju! Jeju! Jeju???? All money gone and share price drop after that.

Posted by Leong1982 > 2020-03-20 10:17 | Report Abuse

good time to escape now... Now bursa giving you a chance to escape before it reaches 0.10..

Posted by wantanmi > 2020-03-20 10:18 | Report Abuse

Tora! Tora! Tora! Just sit tight, Stay at Home n enjoy ur Sardine Toast..Chef!

Quote:
"As retail investor, we got to sit tight and understand each move of the major share-holder.
Regret to say, VT will not act according to minority request.
He will only plan forward his final goal to merge BjLand into BjCorp.

What minority shall focus is on the closing deals of Jeju and GMOC.
These two deals will bring in full proceeds to BjLand, not to BjCorp.

Pay attention to Jeju case, as BjLand have done full impairment on the investment.
Any agreed amount shall deem as 100% profit, if RM600 mil is RM600 mil profit,
If RM1 Billion settlement it will be RM1 Billion profit."

Posted by Eddysurge > 2020-03-20 10:22 | Report Abuse

Jeju !Jeju! Jeju! Where the refund gone and compensation!!! After many many years??

Posted by wantanmi > 2020-03-20 10:44 | Report Abuse

The refund already used for full impairment by Berjaya earlier & the compensation is pending agreement between JDC & Berjaya. Thus "Any agreed amount shall deem as 100% profit, if RM600 mil is RM600 mil profit,
If RM1 Billion settlement it will be RM1 Billion profit"

Btw any thoughts on this?
https://www.klsescreener.com/v2/news/view/654364

Posted by Leong1982 > 2020-03-20 10:52 | Report Abuse

if you read korean news, the government wanna continue with the project la, will korean government simply pay RM1 Billion to berjaya?

Posted by Eddysurge > 2020-03-20 11:04 | Report Abuse

@ wantanmi, you don't know regards Korean government intention?

Posted by wantanmi > 2020-03-20 11:46 | Report Abuse

Jeju Free International City Development Centre(JDC) may have found an exit from the legal case with Berjaya Jeju Resort(BJR), Jejueconomy, a local internet newspaper, on Monday, reported.

According to the article, Seoul Central District Court postponed the due adjudication to see both of the parties can make a deal out as much as 350 billion KRW(appx. 310m US$). It was supposed to make the final conclusion on February 6th.

This is drawn out after JDC and BJR met for an agreement. Moon Daerim, the CEO of JDC made a visit to Berjaya Corporation Bhd in Malaysia last December. He is said to have met Vincent Tan, the executive chairman, and exchanged ways to figure the conflict out. They agreed to examine them to minimize the possible damages to the both organizations and will proceed more negotiations.

The weak side is that BJR estimated its loss on the resort project as much as over 4 trillion KRW(appx. 36 bi. US$), which may lead to additional lawsuits. To avoid it, JDC has been ceaselessly contacting landowners, Jejueconomy added.

https://sisawasoseol.tistory.com/m/570

Posted by Leong1982 > 2020-03-20 12:09 | Report Abuse

"They agreed to examine them to minimize the possible damages to the both organizations and will proceed more negotiations."

It will be a win-win situation for both... not Berjaya wins 100%

Posted by wantanmi > 2020-03-20 12:22 | Report Abuse

Yup! Win-win for both parties..but since Berjaya already made full impairment earlier on Jeju Project...

Thus "Any agreed amount between Berjaya & JDC shall deem as 100% profit, e.g. if RM600 mil is RM600 mil profit,
If RM1 Billion settlement it will be RM1 Billion profit""

Posted by Leong1982 > 2020-03-20 12:36 | Report Abuse

let's see, berjaya heavy dumping

Posted by wantanmi > 2020-03-20 12:55 | Report Abuse

Yup! maybe due to short selling based on Mkt sentiments and weak holders...anyway short sellers needs to cover their latest position by Monday since Bursa already implemented Uptick Rule last Tuesday and may suspend short selling altogether at short notice..

https://www.klsescreener.com/v2/news/view/654364

Posted by kahhoeng > 2020-03-20 12:57 | Report Abuse

JDC has been ceaselessly contacting landowners? Why?!? BJLand still want to pursue this project given landed project in Myanmar and Okinawa Four Season developent?

Posted by wantanmi > 2020-03-20 13:17 | Report Abuse

There are 2 separate issues to settle:
1. Seoul Central District Court postponed the due adjudication to see both of the parties can make a deal out as much as 350 billion KRW(appx. 310m US$). It was supposed to make the final conclusion on February 6th.

This is drawn out after JDC and BJR met for an agreement. Moon Daerim, the CEO of JDC made a visit to Berjaya Corporation Bhd in Malaysia last December. He is said to have met Vincent Tan, the executive chairman, and exchanged ways to figure the conflict out.

2. JDC to avoid additional lawsuits involving Berjaya and landowners.

" BJR estimated its loss on the resort project as much as over 4 trillion KRW(appx. 36 bi. US$), which may lead to additional lawsuits. To avoid it, JDC has been ceaselessly contacting landowners, Jejueconomy added.'

Posted by Paulnga > 2020-03-20 16:48 | Report Abuse

Haha， Jeju Coming！

Posted by OceanSky > 2020-03-20 18:15 | Report Abuse

Thks to Wantami,

1. Seoul Central District Court postponed the due adjudication to see both of the parties can make a deal out as much as 350 billion KRW(appx. 310m US$). It was supposed to make the final conclusion on February 6th.

The above deal give returns of US 310 mil, which is RM 1,240 Billion.
Beyond the earlier target of RM 600 mil to RM 1.0 Billion.
Sound good.

Posted by kahhoeng > 2020-03-20 23:40 | Report Abuse

If there's so much to be collected, why hasn't bjland announced any dividend?

Posted by DreamKentut > 2020-03-20 23:51 | Report Abuse

DELISTING SOON!

Posted by Eddysurge > 2020-03-21 09:09 | Report Abuse

@kahhoeng, everyday asking why market there still so much shares to be collected and lower & lower price?

Posted by kahhoeng > 2020-03-21 10:32 | Report Abuse

How am I supposed to know?

Posted by wantanmi > 2020-03-21 12:54 | Report Abuse

Solution: Request SC to suspend short selling on all Berjaya Shares to prevent abuse by VT Nominee a/cs & brokerage held shares.

"Brokerages held stocks through nominees that could be used for selling and creating a false sense of the stock’s price coming under pressure.

“Stocks that are held in nominee accounts can be sold causing the stock prices to fall. Later the short-selling traders will come in to buy the stocks. The entire process circumvents the existing rules put in place to prevent the abuse of short selling.

“Worse is they speculate false news on the particular stock through social media. It brings about a false sense of selling pressure and helps them to sell down the stock with minimal shares, ”

https://www.klsescreener.com/v2/news/view/654364

Posted by Eddysurge > 2020-03-21 12:57 | Report Abuse

@ I simply asking to kahhoeng but no you,wantanmi. I suspect the motives of transactions done so far. What's the tactical approach ? Continue listing or delisting.

Posted by Eddysurge > 2020-03-21 13:06 | Report Abuse

If considered the volume done for few months over after 85% announced. And market price lower and lower, hardly for minority's to gain or pick when outside there's abundance stock can choose.

Posted by kahhoeng > 2020-03-21 15:21 | Report Abuse

Eddysurge, no way to tell if VT want to privatize... Based on what he said, yes, but after listing hotels in Singapore. After conference call with reporters end of 2018, VT managed to sell Kyoto Four Season a year late, but come with two surprises, a Vietnam Hotel disposal and a Iceland hotel group acquisition that were not disclosed in the conference. Given market condition, it is difficult to anticipate a listing in Singapore, at least I am not. So, will VT privatize BJLand? I'm clueless if you were to ask me.

We are not insider, at least I'm not, so I don't even know if Jeju and China Great Wall will be settled soon. If BJLand receive at least 900 million from Kyoto Four Seasons disposal, BJLand net debt has been greatly reduced, to around RM 700 mil. To me, these two are crucial in turning BJLand into a cash company (with at least RM 1 billion cash?). I prefer a dividend or if there's a privatization, a 0.38/0.30 conversion into BJCorp shares + a little bit of cash incentives, say 0.01 - 0.10 per share, to us minorities holding long period of time.

If have to guess if VT want to private BJLand, my best guess is NO. There's an opportunity to privatize BJLand when both BJCorp and VT have acquired more than 85% of BJLand while Bursa had disagreed to extend ownership beyond 85% if I were not wrong. Instead of putting out an offer, BJCorp had sold some BJLand shares at discount to reduce their ownership to less than 85%. But, hey, who knows? VT is difficult to predict.

Posted by OceanSky > 2020-03-21 16:31 | Report Abuse

Kahhoeng,
While VT keep grapping BLand last year until beyond 85%, then sold of some to reduce ownership to below 85%.
Believe that VT think SC still could let him get waiver for beyond the boarder.

From BjCorp balance sheet last year, their cash position is not strong enough to privatise BLand.
Event today, with the cash proceed into BjCorp of RM935 mil, after pay off debts of RM800 mil,
They still does not have good cash position to privatise BLand.

Maybe 38/30 sen conversion is good move, however 15% BLand is 750 mil shares, it will need about 1 Billion BjCorp shares for share swap.

However, the share-holders mandate is only 530 mil BjCorp shares, still not enough.

Therefore, VT need another plan.
Properly, with share buy-back of 530 mil shares, plus mandate 530 mil.
The privatization of BLand could happen.

Posted by Eddysurge > 2020-03-21 17:28 | Report Abuse

@ Oceansky, 38/30 cents conversions is fair? To bjland fair. But to Bjcorp is it weird ?

Posted by Eddysurge > 2020-03-21 17:56 | Report Abuse

To acquire bjland from TSVT 13%, is it profits yet? Penta deal 4%~, profit yet?

Posted by kahhoeng > 2020-03-21 18:01 | Report Abuse

Actually, the open market purchase of BJLand for the past few days is weird. BJLand now is suffering liquidity concern with no certainty of privatization offer that's at least as good as Penta's latest deal, i.e, 0.38/0.30. Yet, the open market acquisition has driven BJLand to 0.14. I suppose the person buying must be deep pocket and at least have some knowledge about BJLand's future plan.

I can understand BJCorp buying back shares, given 900+ million additional bullets, spending every 10 million can easily reduce BJCorp's share count by 50 million, assuming an average 0.20 per share price. At an average of 0.20 per share purchase price, buying back just the number of shares used to purchase bjland imply an acquisition cost of roughly 0.253 per bjland share, much lower than the actual cost of 0.38 if paying Penta in cash.

Posted by OceanSky > 2020-03-21 20:22 | Report Abuse

Agree with Kahhoeng.
Not only buy at good price, further solve the cash position issue.
Use share swap will not spend much cash reserve.
For BLand share holders, they could still hold on to the ship to wait for good gain later,
instead of sell at 38 sen, or even lower.

Posted by wantanmi > 2020-03-21 21:34 | Report Abuse

Yup! Share swap is a win-win for all in current situation..
Analysis of BJLand shareholding are as follows:
80% BJCorp
8.9% Institutions
6% Private Companies
3% General Public
2.1 Individual Insiders
Since VT & BJCorp already owns 85%, balance of 15% minority shareholders are mainly 8.9% Institutions & 3% General Public.

VT personally holds 1.93% or 96.3 million shares while Penta only left 0.01% or 451k shares while Dimensional Fund has 0.42% or 21 million shares. BJCorp sold 0.78% last year to bring BJ Group's shareholdings back to 85% to meet Bursa requirements for listing

https://ibb.co/JqWR6xg
https://ibb.co/sF56nsQ
https://ibb.co/MB90mfs
https://ibb.co/M9bzfqm
https://ibb.co/p0bSHXD
https://ibb.co/P1D6jvF
https://ibb.co/CQ1vydF

Posted by bahai4453 > 2020-03-22 13:20 | Report Abuse

What to worry, a share of just below 0.20. Just hold. How much money can you lose ? Forget about VT and his bullshit talk.

Posted by Eddysurge > 2020-03-22 22:39 | Report Abuse

@ bahai4453, your word always sounds good to me. Thanks buddy.

Posted by Leong1982 > 2020-03-23 09:40 | Report Abuse

Retest RM 0.105 this week...
just some logic, US market is going to crash further this week due to more lockdown in US, triggering panic sale and more job loss wave will be coming in a few months..
Holding cash is King now!! can collect below RM0.10 next month!

Posted by Leong1982 > 2020-03-23 09:44 | Report Abuse

Dow futures plunge the 5% limit as coronavirus slams market, Fed official warns unemployment could hit 30%

BREAKING NEWS

Posted by Leong1982 > 2020-03-23 09:45 | Report Abuse

BJLand hotel business will be severely affected.. Sigh!

Posted by Eddysurge > 2020-03-23 10:00 | Report Abuse

Government no pay salary to hotel business, how to survive? @ Leong 1982, how many staff's bjland could be?

Posted by Leong1982 > 2020-03-23 10:14 | Report Abuse

I am not sure, i hope my paper loss can be minimized la, i bought from 30 cents la!!
Maybe cash is king now!

Posted by Jeffreyteck > 2020-03-23 13:54 | Report Abuse

Goreng privatisation again in news.