Since Bjcorp already hold 87% of bjland & assuming bjcorp privatise BLAND at 60 sen.........bcorp only need Rm 390m cash loh!
Since assets value of bland per share b4 revaluation is 80 sen, then bcorp will make at least rm 130m on privatization loh!
The share exchange ratio still can still maintained at 38 for 30 pegging bjcorp at 47.4 sen v bland 60 sen, should shareholders of bland chose the share option loh!
Highly affordable for bcorp to privatise bland...an easy picking fruits...very tempting for the 1st stage of value enhancement mah!
As for privitization of bland...they only need Rm 390m or less...this can easily by funded by its existing group cash holdings plus compensations receipts from Great Wall Mall from China alone already Rm 650m mah!!
As Vincent Tan has undertake not to do more acquisition & by sweating the existing assets huge cash can be released to generate huge shareholders value mah!
Don't think so 1. The GMOC RM650 million arbitration award including interest accrued against Beijing SkyOcean by HKIAC was in May 2020. 2. Beijing SkyOcean's 70% shares in Tuopai Sheds was frozen by Beijing People Court in August 2020 to facilitate recovery of RM650 million owing to BJLand 3. The 70% shares owned by Beijing SkyOcean was successful auctioned to Fosun for RMB4.53B cash has been paid to China's court in Jan 2021 to pay Beijing SkyOcean's creditors. 4. BJLand as one of the creditors secured by the HKIAC award should received the RM 650 million anytime now? https://www.theedgemarkets.com/article/berjaya-land-wins-rm595m-arbitration-award-against-chinese-mall-buyer https://ir.fosun.com/static-files/91966076-54da-440b-9042-c821639fe21f
Don't think so 1. The GMOC RM650 million arbitration award including interest accrued against Beijing SkyOcean by HKIAC was in May 2020. 2. Beijing SkyOcean's 70% shares in Tuopai Sheds was frozen by Beijing People Court in August 2020 to facilitate recovery of RM650 million owing to BJLand 3. The 70% shares owned by Beijing SkyOcean was successful auctioned to Fosun for RMB4.53B cash has been paid to China's court in Jan 2021 to pay Beijing SkyOcean's creditors. 4. BJLand as one of the creditors secured by the HKIAC award should received the RM 650 million anytime now? https://www.theedgemarkets.com/article/berjaya-land-wins-rm595m-arbitr... https://ir.fosun.com/static-files/91966076-54da-440b-9042-c821639fe21f
Not many tickets left as Penta proxy PCM LP Industrial also sold their 3% earlier in the year? Minority shareholding was about 10.5% early in the year but has increased to 13% now. What they are selling is probably RSS shares or token sum of shares from associated companies in open market to lower the threshold for determining the 5 days moving average to calculate the base offer price?
The 3rd qtrly report ended 31/3/2021 should be out by later May. Hopely there will be some disclosure on the status of recovery of RM650 million cash from sale of GMOC from Beijing SkyOcean?
Normally it takes 2 months from end of Qtr to prepare & release the Qtr report. I believe the recent Qtr 2 report ended 31/12/2020 was released in late Feb 2021?
If not mistaken Qtr. 2 ended 31/12/20 report was announced on 24/2/21 so Qtr. 3 ended 31/3/22 report should be out by 24/5/21.
I think related parties or proxies are accumulating more shares from open market on behalf of Tsvt or BJCorp so as not to worsen the current public spread of 13% before any announcement?
Actually, out of the remaining 13% freefloating shares in the market, Sompo still holds 0.8%. If they sell again grab as many as you can before VT related parties/associates gets hold of them.
How to sell 5 billion tickets if BJCorp already holds 87% or 4.35 billion? Don't let your ticket go cheap as many are waiting to buy from you including VT associates before any announcement? Actually, out of the remaining 13% freefloating shares in the market, Sompo still holds 0.8%. If they sell again grab as many as you can before VT related parties/associates gets hold of them.
Remember the loss leader concept? Get your associates like Sompo to sell some so can buy more from open market. VT can't buy openly least he will worsen the 13% freefloat some more like last time?
Actually buying the balance of 0.8% direct from Sompo is still insufficient for VT to privatize as only 87 + 0.8 = 87.8%? as VT needs 99% to privatize/delist. Since the other associate Penta has sold all their shares including the 3% held in proxy under PCM Industrial LP so no more unlimited seller?
unfortunately, based on Penta's deal, there's a high possibility that VT won't or can't afford to privatize BJLand, cause the deal only offer to buy a portion of Penta's BJLand holding. Though, I am not in his position, it's hard to judge.
I too believe BLand is highly undervalued, but if VT is not sharing, what good there is for us the minorities... Guess the low valuation is a self-inflicted shit, with the only exception that minorities got hit harder.
I agree all this low valuation for BJGroup is self inflicted. However if the heirs can change his mindset there still room for redemption? Let see how Jalil & the new management team carry out the corporate exercise?
More buyers compared to sellers, buy on weakness now. I think BJCorp is supported at current levels since VT has spent lots of money pushing up the price. Don't think they will let it go to waste just because of short sellers who want it down? Let's wait for Jalil's Strategic Plan & see how he will monetize BJLand's land & assets?
Introducing MY's First IPO Fund for Sophisticated Investors!
MQ Chat
New Update. Discover investment communities that resonate with your ideas
MQ Trader
M & A Value Partners IPO Equity Fund has been launched - Targeted 13% Return p.a
Latest Videos
0:17
New IPO: Building management systems (BMS), solar thermal systems and energy-saving services provider, Solar District Cooling Bhd aims to list on the Ace Market!
MQ Trader 357 views | 2 d ago
0:17
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 11692 views | 10 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Sinoboy
2,131 posts
Posted by Sinoboy > 2021-04-09 10:26 | Report Abuse
Today likely to be red..