About time we see some action, hopefully of the positive kind. VT is the contrarian type, when markets are falling around your ears, his counter flies big time. Hoping, cautiously.
what's so impressive about the deal? If I were not wrong, BJCorp bought the last batch of BJLand shares at 0.38 per share through issuance of BJCorp shares, and BJCorp is selling BJLand at 0.22 per share? BJCorp a philanthropist gifting whom???
VT instead of using Bjcorp to offer VGO to take over Bjland as promised by former CEO Jalil is now going backward to sell Bjland to comply with the public shareholders spread of 80%.
After sale of STM, Bjland will be cash rich as 40% STM owned by Bjland & halal compliant to focus on Hotel REIT & property development? Wondering who bought VT's 140M shares at 22 cents. Johor Royalty still owns shares in Bjasset thats why still high at 28.5 cents eventhough making loses. Interestingly Johor Sultan just appointed son as Regent to take a rest from Royal duties to focus on biz interests? https://investingmalaysia.com/shareholder-dymm-sultan-ibrahim-johor/
Is the 140 mil shares translate, and part of strategic partner purchase? Will the partner further buy another 140 mil? Then will appear to be major share holder, >5%. Will the new partner enjoy the windfall of disposal of 40% STM? Interesting story to follow.
it's just a MOU... Unless it's announced a deal that'll benefit both Sabah state and BJLand in the long run, guess the impact is minimal. It would be great to have SC investigating into who's buying into the 140 mil and the rationale behind BJCorp's disposal at loss.
Second half of 2022 already here. VT may announce something exciting for BJLand? Also BJCorp's 140m loss from sale of BJLand maybe to a new strategic partner like Johor Royalty in preparation for STM sale & listing of Hotel REIT in Singapore according to VT's plans. Also VT's sale of 103m shares in BJCorp to cash out money to invest in more BJLand shares? That's why there is sudden spike in buying lately? "The owner of Icelandair hotels is Berjaya Land Berhad. The sales agreement with Icelandair was finalized at the beginning of 2021, but the first part of the contract went through already in 2019. The chairman of the board of directors in Iceland is Tryggvi Þór Herbertsson.
The company will introduce rebranding and name changes to the parent company and the Icelandair Hotels chain in the second half of 2022."
The ball has started rolling? 2022-07-01 BJCorp Board Member Non Executive Director Appointment - TUNKU TUN AMINAH BINTI SULTAN IBRAHIM ISMAIL on 01-Jul-2022. https://www.klsescreener.com/v2/news/view/1012601
What magic is this? Is it a mistake or true that BJCorp has secretly transferred 60% of its BJLand shares to another strategic partner? According to Simply Wall St., BJCorp now only left with 19.7% shares in BJLand from 79.7% previously as of 15 June, 2022. https://i.postimg.cc/jd0fphgF/IMG-20220705-235031.jpg
BJ Land holding BERJAYA SPORTS TOTO BERHAD Direct (units) 221,528,997 Direct (%) 16.4890 Indirect/deemed interest (units) 323,718,874 Indirect/deemed interest (%) 24.0950 Total no of securities after change 545,247,871 Date of notice 6-Jan-21
For the direct holding portion, each BJ Land contains 0.044 SToto share, equivalent to 8sen per share (assume SToto@1.80)
Curious. The SIAMH's announcement was made on BJCorp but not BJLand. Berjaya Leisure has been secretly transferred to BJCorp? Who owns Berjaya Leisure? Urgently need investigation.
Based on the annual report 2019, Berjaya Leisure was still under BJLand. " On 1 March 2019, BLand announced that TPC Development Ltd (“TPCDev”), a wholly-owned subsidiary company of Berjaya Leisure (Cayman) Limited (“BLCL”), which in turn, is a wholly- owned subsidiary company of BLand..... page 11"
BjLand hold 34.6% SIAMH, as an associate company; however plus BjCorp other subsidiary holding shares up to 51%, made SIAMH become subsidiary company of BjCorp. Therefore, announcement made at Bj Corp instead of Bj Land.
Thxs for clarifying. So BJLand holds 34.6% in SIAMH and BJCorp holds another 51%. Once listed BJLand should also benefit right? Btw can anybody clarify how come BJCorp's holding in BJLand dropped to 19.7%, a drop of 74% from 79.7 previous. There were no announcement yet, apart from the 140m shares which BJCorp sold in direct biz transaction. Refer screenshot from Simply Wall St. https://i.postimg.cc/bYTbDXQT/Screenshot-20220716-091631-1.jpg
Thanks for the info. Not sure why VT still have no desire to privatize BJLand? He should have holding about 90 to 95% of the stock (including many that have been transferred undisclosed party) by now. What is he waiting?
@simon2020, It is not as you thought, BjLand holds 34.6%, plus Bj Corp holds 16.4% (via other subsidiaries), total is 51.0%. Not 16.4% + 51.0% = 67.4%.
@simon2020, we shall always follow the announcement from Bursa; or refer to Bj Land Portal , -> Investor Relations -> Bursa announcement, -> 5. Changes in shareholding. There always give the first hand information on share changes. I believe the screenshot from Simply Wall St. may have error, or only pick up partial of holding of Bj Land shres.
Circumstances by reason of which change has occurred Deemed interested by virtue of its 100% equity interest in Berjaya Group Berhad, the holding company of Teras Mewah Sdn Bhd - Disposal of shares via direct business transaction Nature of interest Deemed Interest Direct (units) 374,500,000 Direct (%) 7.611 Indirect/deemed interest (units) 3,354,422,496 Indirect/deemed interest (%) 68.172 Total no of securities after change 3,728,922,496 Date of notice 15 Jun 2022 Date notice received by Listed Issuer 17 Jun 2022
Remarks : Indirect Shareholdings No. of shares ------------------------------ -------------------- 1) Berjaya Group Berhad 105,786,400 2) Teras Mewah Sdn Bhd 969,288,914 3) Juara Sejati Sdn Bhd 1,399,360,850 4) Bizurai Bijak (M) Sdn Bhd 606,686,220 5) Prime Credit Leasing Berhad 14,528,532 6) Inter-Pacific Capital Sdn Bhd 81,000,000 7) Inter-Pacific Securities Sdn Bhd 100,000,000 8) Rantau Embun Sdn Bhd 40,000,000 9) Berjaya Sompo Insurance Berhad 35,771,580 10) Redtone Digital Berhad 2,000,000 --------------------- 3,354,422,496 =============
Circumstances by reason of which change has occurred Deemed interested by virtue of his interest in Berjaya Corporation Berhad, the ultimate holding company of Teras Mewah Sdn Bhd - Disposal of shares via direct business transaction Nature of interest Deemed Interest Direct (units) 75,892,400 Direct (%) 1.542 Indirect/deemed interest (units) 3,994,770,372 Indirect/deemed interest (%) 81.186 Total no of securities after change 4,070,662,772 Date of notice 15 Jun 2022 Date notice received by Listed Issuer 17 Jun 2022
Latest at 17-06-2022, VT still holds 1.542% + 81.186% = 82.728% of Bj Land shares. Need to dispose at least 2.8% to meet the public spread barrier. I believe this move is in the pipeline, as the hanging public spread on Bj Land have held back the retailers interests on Bj Land. It is not good for Bj Land, and effect on Bj Corp too.
@roundcateye, The criteria of MGO of the market float is of, 90% acceptance from the market retailers. For Bj Land scenario, Bj Corp have to recover at least 90% of the balance 15% shares from the retailers; which means if 1.5% of retailer not accepting the offer, the MGO will fail. 1.5% of Bj Land is equal to 75 million shares, if any sizable player set the barrier, the MGO will hang. Believe VT's Think Tank have study and brief VT that the chance to get MGO pass may not be very high. Therefore, MGO does not take place till now.
Presently VT have revert the game play, he dispose off the 140mil shares to "friendly party" or "Proxy Player". with one more round of 140mil shares disposal, Bj Land will back to liquitable position. Then MEGA plans could be in place immediately afterward. As what have been happened on Bj Land, at 2008, after price boosted, only declares plenty of MEGA projects at oversea.
Thxs for the info. Looks like Teras Mewah with 969M & Bijurai Bijak with 607M holds the most shares in BJLand. Anybody has more details of these companies? I believe Teras Mewah is an unlisted subsidiary of BJCorp? Direct shares of BJCorp/BJGroup only 106M in BJLand? I believe Simply Wall St only took cognizance of BJCorp's direct shares of 106M in BJLand?
@skynet2000 Remarks : Indirect Shareholdings No. of shares ------------------------------ ---------- 1) Berjaya Group Berhad 105,786,400 2) Teras Mewah Sdn Bhd 969,288,914 3) Juara Sejati Sdn Bhd 1,399,360,850 4) Bizurai Bijak (M) Sdn Bhd 606,686,220 5) Prime Credit Leasing Berhad 14,528,532 6) Inter-Pacific Capital Sdn Bhd 81,000,000 7) Inter-Pacific Securities Sdn Bhd 100,000,000 8) Rantau Embun Sdn Bhd 40,000,000 9) Berjaya Sompo Insurance Berhad 35,771,580 10) Redtone Digital Berhad 2,000,000 --------------------- 3,354,422,496 =============
This the info that could be found on Bijurai Bijak. Apparently they are in the biz of loaning company shares to other companies for RSS? Anybody can volunteer more information?
Bizurai Bijak Sdn Bhd is based in Malaysia. The head office is in Kuala Lumpur. The company operates in the Finance and Insurance industry. The enterprise was incorporated on December 26, 1974. In 2021, the company reported a net sales revenue drop of 24.66%. Over the same period, its total assets grew by 5.9%.
Headquarters Level 12 Berjaya Times Square No. 1 Jalan Imbi 55100 Kuala Lumpur Wilayah Persekutuan Kuala Lumpur; Federal Territories; Postal Code: 55100
More info on Bijurai Bizak, company controlled by VT?Subject was incorporated on 26 December 1974 in Malaysia under the name BIZURAI BIJAK (M) SDN. BHD. with registration number of 197401004147 (21243-W). BIZURAI BIJAK (M) SDN. BHD.'s business includes INVESTMENT HOLDING AND PROVISION OF SECURITIES TO RELATED COMPANIES FOR SECURING LOAN FACILITIES.
BIZURAI BIJAK (M) SDN. BHD. is a private limited company and has been existed for 48 years.
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Posted by TheContrarian > 2022-06-15 20:03 | Report Abuse
Who attacking?