Even the blind can see BJLand's compensation of RM650 million from Beijing SkyOcean is worth 13 sens per share. Add BJLand 50% share RM1.87 bilion for FS Kyoto already RM935 millon or 18.7 sens per share. Add BJLand's 40% share in BJToto is worth RM1.52 billion worth 30.4 sens per share...this not including compensation of another RM1 billion or 20 sens per share from Jeju Korea, current market price of only 19 sens is a bargain for anybody since most of VT collaborators like Penta, Macquarie & Goldman Sachs already sold most of their shares in March be4 goods news was out...that's why many Marchais encouraging you to sell before privatization announcement...
listen to many good stories about BL but as minority shareholder this counter is shit ! imagine if all the counters are like this BL the bursa will need to close , dont know how the employees in this co are treated with this type of businessman
This VT, is fortunate that that no other operators come to challenge him .Any way it is good for newbies to buy cheap. Hope newbies don't miss this opportunity.
This VT is just marking time. n I think it won't be long to explode. BJLand is just like a compressed spring waiting for right timing to trigger. Folks be patient loh!.
Yup! Its Now or Never! finally...as a Water Dragon only moves once confirm compensation of RM650 million valued at 13 sens per share coming to BJLand mah!
I suspect offer coming from BJCORP and all companies acting in concert with VT for BJLAND. Let's hope the offer is FAIR. Anything from 80 sen onwards is FAIR, cheers.
Please take note, both bjcorp and bjland have 2 separate board members. Out of total 9 board member, only 2 board member sitting on both Bjland and bjcorp. More importantly,. VT and his son, Robin ONLY sitting in bjcorp board member, both of them are NO a board member of bjland. Nevertheless, VT interest in Bjland is represent by his daughter, Chrysis, as board member in bjland.
Therefore, in reality, one must first initiate board meeting and make decision at holding level first. Then, these decision making can then only officially pass to bjland board. It is only bjland board officially received the offer, then, ONLY bjland board can have its own meeting later to decide.
It all need to go proper and official procedure in accord to stansard practice
4.1 If the Exchange grants a suspension for any of the reasons stated in paragraph 3.1, the period of suspension that may be approved by the Exchange is - (a) up to 3 market days only where the reason for suspension falls within the ambit of paragraph 3.1(a);
3.1 The Exchange may approve a listed issuer's request for suspension where - (a) the listed issuer requires time to prepare and release an announcement relating to a material transaction, such as - (i) a very substantial transaction as defined in Chapter 10 of the Listing Requirements; (ii) a significant change in the business direction or policy of a listed corporation; or (iii) any other corporate exercise which the Exchange considers to be material;
Yup! Can be also a shares swap as BJCorp needs the cash coming to BJLand from GMOC Arbitration & Jeju Compensation. Hence it's important to maintain a higher price for BJLand to BJCorp conversion to get a better deal from VT...
KUALA LUMPUR (June 1): Berjaya Corporation Bhd (BCorp), which made a request to suspend trading of its shares, will be taking over home electronic appliances distributor Singer (M) Sdn Bhd, several sources say.
While details are scant, sources familiar with the deal told theedgemarkets.com that the transaction might involve issuance of BCorp shares.
Singer, a well-known household brand name particularly for its sewing machines, is currently owned by BCorp’s controlling shareholders, Tan Sri Vincent Tan.
Last year, Berjaya group made known that there might be a plan to inject Singer into Berjaya Media Bhd — the publisher of The Sun newspaper — as part of the latter’s regularisation plan.
However, with the latest move to inject Singer into BCorp, it is unclear how this would impact the regularisation plan for Berjaya Media. The media company has until June 20 to submit its regularisation plan to the relevant authorities for approval.
Singer, which was then known as Berjaya Singer Bhd, was once housed under a former listed entity, Berjaya Retail Bhd, which also owned 7-Eleven Bhd then. It was listed in 2010.
Less than a year after its debut on Bursa Malaysia, Berjaya Retail was taken private with Tan citing its dismal share price performance as one of the reasons for the privatisation.
According to CTOS data, Singer recorded a profit after tax of RM31.2 million for its financial year ended Dec 31, 2018 (FY2018), up 64% against RM19 million the year before.
Annual revenue grew to RM321.96 million in FY2018 versus RM310.97 million in FY2017.
According to Singer’s website, it has a retail network of 700 shops in major townships, suburban and rural areas supported by more than 3,000 sales associates and 350 authorised after sales service contractors.
It sells and provides easy payment schemes for its variety of consumer durables products that include both brown and white goods.
BCorp announced this morning that Bursa Malaysia had approved its application for a trading suspension of its securities from 9am today until 5pm tomorrow pending the diversified entity's announcement of a material transaction.
Prior to the suspension, BCorp's shares were last traded at 19 sen last Friday for a market capitalisation of RM930.49 million.
Yup! Plan is still on-going for Restructuring ... otherwise why need 2 days suspension? since news of purchase so quickly released to the press?..so instead of getting BJCorp to buy 7-Eleven substitute with Singer instead? Question is how BJCorp to find the cash to bale out VT & BJMedia?
Anyway Singer is block & mortar biz loosing out to online biz like shoppee & Lazada who's bad for BJCorp if the deal materealized...anyway only half the story reported otherwise why keep suspended until 5pm tomorrow?
lol.. nothing wrong with being optimistic la, with all the bad news and with people losing their jobs, one should try to be optimistic, makes the world a better place. But it didi not add up, usually if its a privatization process, both counters will be suspended at the same time
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