Posted by simon2020 > 2020-07-05 22:36 | Report Abuse

I remember that there was partial payment by JDC of RM374.5M to BJLand's building contractors when Jeju Land Project was mutually terminated by BJLand & JDC in March 2016 (that's why no impairment provisions) with the remainder sum of RM646M of BJLand initial investment in the Jeju Island project to be recovered by court settlement.

Under court managed Settlement Agreement announced on 30 June 2020, all parties agree to resolve all disputes arising from the Jeju Project via payment by JDC comprising of:

RM443.88 + RM362.19 = RM806.07M, less the remainder sum RM646M for BJLand initial investment, JDC has paid extra (RM806.07 - RM646) RM160.07M over BJLand's initial investment?

Posted by stockraider > 2020-07-05 22:45 | Report Abuse

U need to understand getting back all the capital, plus rm 59m profit is a great feat mah....bearing in mind bland nta is 80 sen but market share price only 18 sen mah...!!

Thus if the collection is completed & payout...bland should deserve a rerating mah...!!

Must give credit to VT for his hard & dedicated work, which is very difficult and challenging for fighting against the korean govt bravely mah...!!

Posted by kahhoeng > Jul 5, 2020 10:36 PM | Report Abuse

Initially, I thought there are 2 parts of compensation, one amounts to 443.88 million to BLCL and SSP, and another amounts to 362.19 million to BJR. After re-reading the announcement, it seems that the 362.19 million is the eventual amount that BLCL is receiving after all expenses are paid. The carrying net asset value of BJR is 521.325 million prior to the court case, of which BLCL's stake is worth 378.475 million.

Fainted, and VT is saying seeking "huge" compensation??? Yet, Lydia is telling me a net gain of 59 million is to be expected? Wonder which part of it that I am not understanding???

Posted by kahhoeng > 2020-07-05 22:48 | Report Abuse

I guess that's why market is not excited over the news at all, really need to read extra carefully what BLand is announcing, I guess.

Posted by simon2020 > 2020-07-05 22:49 | Report Abuse

That's why its important to insist in your email to Lydia that she provides the details on how she arrived at the 59M net profit or is it RM160M actual gain? in order to clear all confusion once for all and not a standard two liner in her earlier reply..

Posted by stockraider > 2020-07-05 22:55 | Report Abuse

U should be excited mah...bland get more than rm 400m cash just on jeju case alone, but its mkt cap is less than rm 1b mah...!!

But market wants to see...monies actually collected & bank in...b4 it react with rerating mah...!!

They are still doubtful & skeptical whether bland can get the settlement proceeds loh....!!

Posted by kahhoeng > Jul 5, 2020 10:48 PM | Report Abuse

I guess that's why market is not excited over the news at all, really need to read extra carefully what BLand is announcing, I guess.

Posted by simon2020 > 2020-07-05 23:08 | Report Abuse

You forgot to include another RM650M cash coming from successful GMOC Arbitration due from Beijing SkyOcean?

Posted by stockraider > 2020-07-05 23:08 | Report Abuse

U r double counting mah...!!

How much debt is pare down after getting net of debts Rm 400m leh ??


"after paring down the debt", BLand will only receive about 400 million that can have an impact on BLand's balance sheet. BLand has short-term investment and deposits amounting to 745 million and total debt of 3,336 million (short-term debt 1,272 million and long-term debt 2,063 million). The total net debt is about 2,591 million, of which 835 million is due to BToto. So, total net debt BLand is owing should be about 1,756 million.

Posted by kahhoeng > Jul 5, 2020 11:03 PM | Report Abuse

Also, I took some time reading into BLand annual report, and I found BKDS, the Kyoto Four Seasons hotel, has a net asset value of 399.246 million, with a non-current and current liabilities of 948.295 million and 179.972 million, totalling 1128.267 million. Because BKDS is treated as an associate company of BLand, after paring down the debt, BLand will only receive about 400 million that can have an impact on BLand's balance sheet. BLand has short-term investment and deposits amounting to 745 million and total debt of 3,336 million (short-term debt 1,272 million and long-term debt 2,063 million). The total net debt is about 2,591 million, of which 835 million is due to BToto. So, total net debt BLand is owing should be about 1,756 million.

So, assuming BLand is receiving 400 million from Kyoto disposal and 362 million from Jeju settlement, BLand total net debt excluding Toto should still be about 994 million, a far off from debt free. My goodness, I was so wrong! Hopefully, someone can show me I am wrong...

Posted by stockraider > 2020-07-06 08:11 | Report Abuse

Correctloh...must be pragmatic & rational mah...!!


Posted by simon2020 > Jul 5, 2020 11:25 PM | Report Abuse

While you are busy counting the debts, you must not forget they are backed by NTA of 86 sens per share or total assets of 4.3 Billion which are generating cash flow & profit for the company...



Posted by simon2020 > Jul 5, 2020 11:53 PM | Report Abuse

BJLand net debt of RM610M vsTotal Assets of RM4.3 Billion gives an Assets to Debt Ratio of only 0.0142% which is still low and manageable..

"A lower debt-to-asset ratio suggests a stronger financial structure, just as a higher debt-to-asset ratio suggests higher risk. Generally, a ratio of 0.4 – 40 percent – or lower is considered a good debt ratio".

Posted by Paulnga > 2020-07-06 08:57 | Report Abuse

Dear shareholders, Remember this figure, NTA 86 sen and total assets 4.3 B when Ah Tan want to put BJland in his pocket, don’t let go cheap cheap!

Posted by Eddysurge > 2020-07-06 09:15 | Report Abuse

I think bjland stake holders by minority within 10%, others is belonging to Cronies. The objective is to sell higher price. The only way minority can gain is through company support market price or privatisation.

Posted by bahai4453 > 2020-07-06 09:52 | Report Abuse

Lol.... Dreamland from a "Balacan Corp"...cuma 0.18 ....lol..

NTA of 86 sens per share or total assets of 4.3 Billion which are generating cash flow & profit for the company...

Posted by WilburR2 > 2020-07-07 09:11 | Report Abuse

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3066249

comments please

Posted by WilburR2 > 2020-07-07 09:13 | Report Abuse

dividends or not?

Posted by kahhoeng > 2020-07-07 09:53 | Report Abuse

err... email bland investor relation? doubt any of us here has any credibility to confirm if there's a dividend.

Posted by shortinvestor77 > 2020-07-07 14:27 | Report Abuse

Those with confident will have it. No confident don't get it.

Posted by Paulnga > 2020-07-07 14:56 | Report Abuse

Sell a lot of assets, accumulated a lot of cash, but don’t pay dividends and buy in more boss shares, this is VT’’s strategy to bully minorities share holder.

Posted by shortinvestor77 > 2020-07-07 15:49 | Report Abuse

Ya, better leave this counter forever. Don't talk bad but still hanging here. We just want to laugh.

Posted by Leong1982 > 2020-07-07 17:51 | Report Abuse

Many aunties uncles retirees got their retirement funds stuck in Berjaya counters.
Poor retirees everyday cursing the Operator!

Posted by wantanmi > 2020-07-07 19:18 | Report Abuse

Yup!...interesting, more machais than others.

Posted by OceanSky > 2020-07-08 09:00 | Report Abuse

Re-cap the corporate proposals (B7) and litigation (B9) of BjLand:

A. STC case, it has new hearing date of the Main Appeal on 2-9 July 2020, it made STC case will go on for some-times. BLand has pre-payment of RM230 million for STC development. (Pg 166, 12. Receivables, clause c. )

B. GMOC case closed, there is inflow of RM600 mil ++ (Group level)

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, case closed, there is inflow of RM600 mil ++ (Group level)


On top of the above, the additional could be:

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

2. Disposal of Four-Seasons Hotel at Kyoto. BjLand only can declare RM225 million share of profit, as it is an associated company of BLand.
Please noted that neither asset nor liability of Four-Seasons Hotel Kyoto is registered in BLand Balance Sheet.
It was miss-interpretation to register it's Book value at BLand level.

Summary of BLand (Group Level) cash inflow:
1. STC pre-payment, RM230 million
1. GMOC, arbitration, RM600 million
2. Jeju JDC law-suit, RM600 million
3. BVFC and BVIUT, RM155 million
4. Sheraton Hotel, Hanoi, RM500 million
5. Four-Season Hotel Kyoto, RM225 million.

Total cash inflow, RM2,310 million.

Posted by OceanSky > 2020-07-08 09:18 | Report Abuse

Further study on BLand (Group Level) total borrowings:

Total borrowings:
1. FY-2019, 30-06-2019; total borrowings, RM2,980 million
2. FY-2020, 30-09-2019; total borrowings, RM2,990 million (Up only RM10 million from FY-2019)
3. FY-2020, 31-12-2019; total borrowings, RM2,130 million (Up RM150 million from FY-2019)
4. FY-2020, 31-03-2020; total borrowings, RM3,336 million (Up RM356 million from FY-2019)

Total long-term borrowings:
1. FY-2019, 30-06-2019; total L-T borrowings, RM1,648 million
2. FY-2020, 30-09-2019; total L-T borrowings, RM1,703 million (Up RM55 million from FY-2019)
3. FY-2020, 31-12-2019; total L-T borrowings, RM1,868 million (Up RM220 million from FY-2019)
4. FY-2020, 31-03-2020; total L-T borrowings, RM2,063 million (Up RM415 million from FY-2019)

From above, BLand long term borrowings are increasing very aggressively.
Plus the above cash inflow of RM2,310 million.

What will be next ???

Posted by kahhoeng > 2020-07-08 16:25 | Report Abuse

1.6 million shares sold at 0.175 after nobody want to buy?

Posted by roundcateye > 2020-07-10 18:06 | Report Abuse

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3067681

Interesting.
http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=71860&name=EA_GA_ATTACHMENTS

Posted by mf > 2020-07-10 18:07 | Report Abuse

Dr M will attempt vote of no-confidence against Muhyiddin at Parliament again next week
Syahirah Syed Jaafar
/
theedgemarkets.com

July 10, 2020 17:15 pm +08

Posted by bahai4453 > 2020-07-10 18:43 | Report Abuse

KUB sells 40 pct stake in KUBE to Berjaya Group ... - BERNAMAwww.bernama.com › business › news
Jun 25, 2020 - It said the disposal consideration of RM80 million was arrived at on a willing buyer-willing seller basis and was within the valuation range ...

Posted by Leong1982 > 2020-07-13 11:39 | Report Abuse

cham lo, heading to 16 cents soon?

Posted by kahhoeng > 2020-07-13 11:50 | Report Abuse

Wonder what will VT do? September 23 deadline to comply with shareholding spread.

Posted by Leong1982 > 2020-07-13 12:00 | Report Abuse

he will comply by selling to 80%?

Posted by Leong1982 > 2020-07-13 15:27 | Report Abuse

one hand cannot cover the whole sky

Posted by rogers123 > 2020-07-13 21:13 | Report Abuse

Kahhoeng: faster come back to ur old puncak, going to move soon

Posted by rogers123 > 2020-07-13 21:13 | Report Abuse

Kahhoeng: don waste time in bjland. Spend more time in ur puncak

Posted by shortinvestor77 > 2020-07-13 22:53 | Report Abuse

Don't need to hope for anything, just wait for GO.

Posted by Tracy123 > 2020-07-14 13:49 | Report Abuse

More and more money received, but share price keep drop & drop ! Fox and cunning Vincent Tan

Posted by kahhoeng > 2020-07-14 15:48 | Report Abuse

Actually, despite the concluded 3 deals, China, Jeju and Kyoto, bland has received ZERO money so far. Kyoto money still held at associate Co, jeju and China money yet to be received....

Posted by stockraider > 2020-07-14 18:27 | Report Abuse

Money not received ?

THATS THE REASONS WHY BJ GROUP COMPANIES NOT RUN UP DESPITE SUCCESSFUL DEAL MAH...!!

Posted by kahhoeng > Jul 14, 2020 3:48 PM | Report Abuse

Actually, despite the concluded 3 deals, China, Jeju and Kyoto, bland has received ZERO money so far. Kyoto money still held at associate Co, jeju and China money yet to be received....

Posted by bahai4453 > 2020-07-15 10:16 | Report Abuse

Received or not received all these are purely bullshits. Paramount can paid dividend from their own pocket and why this old fox cant do it even the company can made money and but keep expanding and acquired more assets and projects. Jamban land in balacan corp ! Bau busuk !
Go...go September hit 0.14.

Posted by Eddysurge > 2020-07-15 17:45 | Report Abuse

I simply have a glance on bjmedia i3 forum, the nta at 2012 and 2015 is a turning point. It's mean that the account trick happen here. Who's the BoD at that time?

Posted by stockraider > 2020-07-15 17:53 | Report Abuse

Media is a very difficult business mah...!!

Tell me which media co make monies leh ??

Look utusan, media prima, star, mediac, bjmedia all lose monies mah...!!

Thus i think ...the claim of hanky panky at bjmedia is grossly unfair mah...!!

Posted by Eddysurge > Jul 15, 2020 5:45 PM | Report Abuse

I simply have a glance on bjmedia i3 forum, the nta at 2012 and 2015 is a turning point. It's mean that the account trick happen here. Who's the BoD at that time?

Posted by kahhoeng > 2020-07-15 18:07 | Report Abuse

Don't know about hanky panky at bjmedia, anyone? what's interesting, though, is rumor of injecting Singer into BJMedia that remains rumor till delisting. Yet, BCorp is proposing to buy Singer with 1.1 billion BCorp shares, what a shame, the independent directors of BCorp...

Posted by Jeffreyteck > 2020-07-17 09:11 | Report Abuse

Most businesses are difficult for BG under this leadership except BToTo. Est BJL will gradually slip back to 0.10 amidst extremely bad Q2 results unless push up by chief trader.

Posted by kahhoeng > 2020-07-17 19:11 | Report Abuse

Question 2 received on 5.7.2020

With reference to Jeju Court Settlement, may I confirm the amount that BJLand would receive through its 100% subsdiary BLCL will be KRW102.00 billion (approximately RM362.19 million)?

With reference to BLand FY 2017 annual report, the carrying net asset of BJeju is RM521.325 million, of which equities attributable to owners of the parent is RM378.475 million. How would this court settlement results in an estimated gain of RM59 million. Or, was I wrong in that BLCL is actually receiving more than RM378.475 million?



Berjaya’s reply

Firstly, we would like to clarify that BJeju’s net assets attributable to owners of about RM378m is not an updated figure as it was based on the 2017 annual report.

Since 30.4.2017, BJeju has continued to incur administrative and other expenses, including legal fees and these have further eroded or depleted BJeju’s net assets as BJeju was not able to generate any revenue due to the suspension of its development project in Jeju Island.

We also would like to state that the estimated net settlement sum to be received by BLCL upon completion of JDC Settlement is about RM362 million and not any other amount which is “more than RM378 million”.

Upon the completion of the JDC Settlement, BLand Group will transfer its entire shareholding in BJeju to JDC. This will result in BLand Group losing control over BJeju and BJeju will cease to be a subsidiary company of BLand Group.

In accordance to MFRS 10: Consolidated Financial Statements, when BLand Group loses control over BJeju, it will need to:

derecognise the assets (including any goodwill) and liabilities of BJeju at their carrying amounts at the date when control is lost and the carrying amount of any non-controlling interests in BJeju at the date when control is lost;
recognise the fair value of the consideration received from the transaction that resulted in the loss of control;
reclassify to profit or loss, or transfer directly to retained earnings if required by the other MFRSs, the amounts recognised in other comprehensive income in relation to BJeju;
recognise any resulting difference as a gain or loss in profit or loss.
Only upon the completion of the JDC Settlement, which is expected to be in the second half of year 2020, and after the adjustments to comply with MFRS 10 as explained above, the BLand Group is expected to record an estimated gain of about RM59 million.



If you require more detailed explanations on the accounting treatment relating to the recognition of the gain etc, we would advise that you should seek clarification from qualified professional accountants.

Posted by kahhoeng > 2020-07-17 19:19 | Report Abuse

MFRS 5: Non-current Assets Held for Sale and Discontinued Operations, requires the BLand Group to reclassify all BJeju’s assets, both current and non-current, as the assets of a disposal group classified as held for sale and this is separately disclosed from other assets in the “Current Assets” section of the consolidated statement of financial position as at 30 June 2020. Likewise, the MFRS 5 standard requires BJeju’s liabilities, both current and non-current, to be classified as the liabilities of a disposal group classified as held for sale, and to be separately disclosed from other liabilities in the “Current Liabilities” section of the consolidated statement of financial position. These assets and liabilities shall not be offset and presented as a single amount. This classification is expected to strengthen the consolidated net current assets position of BLand Group as at 30 June 2020.

When the Jeju Court Settlement is completed in the second half of year 2020, BLand Group is expected to recognise an estimated gain of RM59 million in the financial year ending 30 June 2021.

Information on utilisation of net Settlement sum from the Jeju Court Settlement can only be announced upon receipt of the net Settlement sum on completion.

As to offering an insight into BLand's financial health and plan post Kyoto Four Seasons disposal and Jeju Court Settlement, shareholders are advised to read the quarterly results as the Board of BLand will offer their opinion on the future prospects after reviewing the financial requirements of the entire Group, assessing consumer demands and the prevailing global economic conditions.

Posted by Jeffreyteck > 2020-07-19 09:27 | Report Abuse

Other than BToto, BjGroup doing well in any sectors? Trading play at best.

Posted by kahhoeng > 2020-07-19 16:45 | Report Abuse

Bland in the process of clearing its past failed projects, divesting China great mall, Vietnam property projects, and jeju claim. Its annual 180 million financing costs is mainly due to its failed expansion. Local market small projects unlikely to bring in the kind of profits needed for this size of Co. A new attempt to venture into mynamar and okinawa to bring in sales and profits for coming few years but little can be said given past failures.

Bland hotels are not really profit contributor through services but providing investment return through disposal given past deals...

Posted by Leong1982 > 2020-07-20 22:12 | Report Abuse

many have waited for years, poor retiree aunties uncles, boss doesn't help wanna help

Posted by bahai4453 > 2020-07-21 12:20 | Report Abuse

Bro Leong, 0.16 is coming on the way.....lol. waiting to charge...lol.

Posted by Eddysurge > 2020-07-21 13:08 | Report Abuse

Mostly, berjaya group listed companies is heading to privatisation, no other direction.

Posted by kahhoeng > 2020-07-21 13:19 | Report Abuse

eddysurge, if VT is keen on privatizing BLand, he would have done that when offering Penta an exchange of BLand shares into BCorp shares. Just hope he is not on to something to squeeze more minorities. It's a real sad thing VT not honoring his word declaring dividend post Kyoto Four Seasons disposal...

Posted by stockraider > 2020-07-21 13:21 | Report Abuse

VT is just squeezing the minority shareholders loh...!!

But i think he will distribute a token dividend in bcorp later mah...!!


Posted by kahhoeng > Jul 21, 2020 1:18 PM | Report Abuse

eddysurge, if VT is keen on privatizing BLand, he would have done that when offering BLand shares an exchange into BCorp shares to Penta. Just hope he is not on to something to squeeze more minorities. It's a real sad thing VT not honoring his word declaring dividend post Kyoto Four Seasons disposal...

Posted by Eddysurge > 2020-07-21 13:30 | Report Abuse

Otherwise, berjaya group companies is slowly makan gaji buta waiting for delisted.