@sslee as the champion for retail investors on BLand here is our chance to ask and get answers directly from Jalil on his restructuring plans for sale BLand assets such 40.5% share in BToto & plan to resolve the 13.2% liquidity spread at BLand during his Q&A live session today at 12.45 pm at Bursa Marketplace online? birkincollector Tmr 12.45noon jalil will speak on bursa marketplace live to talk about restructuring to retail investors.....can register for free ..then can hentam him with ur questions lol 09/07/2021 5:20 PM
KWSI7317 what's link to register, can share. 09/07/2021 5:32 PM
birkincollector mktplcfair.bursamarketplace.com 09/07/2021 5:35 PM X simon2020 Somebody or news reporter should ask Jalil tomorrow the following questions during his talk on Restructuring to retail investors at Bursa Marketplace: 1. How can BCorp sell BToto when BLand owns 40.05% direct controlling shares in BToto when BCorp only has 8.57% direct shares in BToto? 2' What is BCorp's plan to resolve the public share spread issue of only 13.2% at BLand?
"BLand and its unlisted subsidiaries hold a total of 539.88 million shares, representing a 40.05% equity interest, in BToto.
Meanwhile, BLand, together with its holding company Berjaya Corp Bhd and its unlisted subsidiaries, collectively hold a total of 655.4 million shares, or a 48.62% stake, in BToto.
Sorry just notice your comment. So I just email your questions to Bjcorp IR Lydia to forward to Jalil. If I received any response, I will post in this forum.
simply distribute btoto shares to bland shareholders lah, that will at least address the complexity of bcorp structure and showing fairness to minority shareholders to encourage holding the shares... talk talk talk, listen also tired...
simply distribute btoto shares to bland shareholders lah, that will at least address the complexity of bcorp structure and showing fairness to minority shareholders to encourage holding the shares... talk talk talk, listen also tired...
Berjaya Corp plans to privatise Berjaya Land, sell Berjaya Sports Toto Tan Siew Mung / theedgemarkets.com
July 15, 2021 16:03 pm +08 Berjaya Corp plans to privatise Berjaya Land, sell Berjaya Sports Toto -A+A KUALA LUMPUR (July 15): Berjaya Corp Bhd (BCorp) plans to privatise subsidiary Berjaya Land Bhd (BLand) and sell Berjaya Sports Toto Bhd (BToto) under the diversified group's strategic transformation plan, which includes a proposed hospitality real estate investment trust (REIT).
BCorp group chief executive officer Abdul Jalil Abdul Rasheed said today BCorp has not set a timeline to privatise BLand but he hopes BCorp will "do it sooner rather than later".
"There is an element of funding. It will cost money to take the stock (BLand) off the market.
"Whether that money is best spent taking the stock off the market or spending it elsewhere, that's the difficult decision I have to make," Abdul Jalil said at a virtual event organised by MIDF Amanah Investment Bank Bhd today.
As BLand owns a lot of companies, Abdul Jalil said BCorp sees the need to rationalise BLand, and the best way is to privatise BLand.
Abdul Jalil said BCorp plans to sell BToto as the number forecast operator is in a highly regulated business.
According to him, BCorp's preference is to focus on businesses that are not highly regulated.
He said BCorp has not, however, put a timeline on the planned sale of BToto and that BCorp will sell BToto when the price is right.
"I'm not too much in a rush (of selling BToto), because it gives good dividends," he said.
He said BCorp may expedite its BToto disposal plan when BCorp gets dividends from other businesses.
BCorp group chief executive officer (CEO) Abdul Jalil Abdul Rasheed said today BCorp has not set a timeline to privatise BLand but he hopes BCorp will "do it sooner rather than later".
- No set timeline.
"There is an element of funding. It will cost money to take the stock (BLand) off the market."
- No idea where the money will come from.
"Whether that money is best spent taking the stock off the market or spending it elsewhere, that's the difficult decision I have to make," Abdul Jalil said at a virtual event organised by MIDF Amanah Investment Bank Bhd today.
Thank you arv18. I got below reply from Bjcorp IR for my previous email.
Dear Mr Lee,
Thank you for your email.
I have already forwarded your email for Mr Jalil's attention.
Kind regards, Lydia
Dear Lydia,
I just notice the below comment in i3investor Bjcorp forum.
Can you please forward my email to Mr. Abdul Jalil Abdul Rasheed for his response?
simon2020 Somebody or news reporter should ask Jalil tomorrow the following questions during his talk on Restructuring to retail investors at Bursa Marketplace: 1. How can BCorp sell BToto when BLand owns 40.05% direct controlling shares in BToto when BCorp only has 8.57% direct shares in BToto? 2' What is BCorp's plan to resolve the public share spread issue of only 13.2% at BLand?
"BLand and its unlisted subsidiaries hold a total of 539.88 million shares, representing a 40.05% equity interest, in BToto.
Meanwhile, BLand, together with its holding company Berjaya Corp Bhd and its unlisted subsidiaries, collectively hold a total of 655.4 million shares, or a 48.62% stake, in BToto.
PS: For your information my follow up email with SC on Bjland Public shareholding Spread:
Dear Bursa,
Thank you for clarifying Bursa position that Bursa Securities Malaysia Berhad is not in a position to request or compel any party to make a general offer. Any offer by the offeror is governed under the Rules on Take-Overs, Mergers and Compulsory Acquisitions of the Securities Commission.
My contention is why Bursa grants repeated extension of another further 6 months to comply with the approved public shareholding spread of 20%?
Further to our announcement dated 24 February 2021, the Board of Directors of Berjaya Land Berhad (“BLand” or “Company”) wishes to announce that Bursa Malaysia Securities Berhad has, vide its letter dated 19 March 2021, granted BLand a further extension of time of 6 months until 22 September 2021 to comply with the approved public shareholding spread of 20%
Question 1: Should Bursa set a limit on the number of repeat extensions?
Question 2: For transparency and good corporate governance should Bursa insist applicants provide what are options/difficulties under consideration to comply with the public shareholder spread before granting any extension?
It is my hope this will be the last approval from Bursa in granting Bjland further extension of time of 6 months until 22 September 2021 to comply with the approved public shareholding spread of 20%
BJAssets only have these assets: "Berjaya Assets is the developer of Berjaya Times Square, one of Malaysia’s largest retail and commercial projects which has now become an international landmark for Kuala Lumpur city.
The group also owns Natural Avenue Sdn Bhd which is a Number Forecast Operator in the state of Sarawak. In Johor Bahru, the Group owns the Berjaya Waterfront Hotel and Ferry Terminal."
Mandatory offer coming, lets make Jalil's RATIONALISATION step UNRATIONALE, lets hook up the price minorities to RM1.50 / share, the power of all minorities come come come!!!!!!! PRIVATISATION SQUUUUZEEE BOOK OF RECORD MALAYSIA
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kahhoeng
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Posted by kahhoeng > 2021-07-07 17:12 | Report Abuse
selling Toto business? Might as well sell everything! Earlier news said Toto key to cash flow, now flip to selling???