Posted by OceanSky > 2019-02-01 08:12 | Report Abuse

The only question is shall retailers sold to VT at 38sen ?
If answer is NO.
What could the retailers do ?

Posted by leek > 2019-02-01 08:17 | Report Abuse

https://www.thestar.com.my/business/business-news/2011/03/12/berjaya-retail-to-be-privatised-tan-offers-65-sen-per-share/

CAN STUDY HOW VT PRIVATISE BERJAYA RETAIL BACK IN 20111

Posted by OceanSky > 2019-02-01 08:17 | Report Abuse

As Bj Corp group hv control beyond 90%, I believe mandatory delisting from Bursa should be the only option.
I'm not sure if the minority shareholders united and defend at less than 10% shares can be accepted by the SC.
This will triggle the worst case scenario, Bjland suspended.

Posted by OceanSky > 2019-02-01 08:23 | Report Abuse

before last week, I put high hope on those foreign fund who hold about 11% Bjland shares will stand against Bj Corp privatise move.
As most of them hv invested at RM1.00 to RM1.20 during the peak at 2010.
However, the yesterday deal between Penta with Bj Corp proved that they stand side by side with Bj Corp on this privatise exercise.
Of course, with Bjland delisted, Penta still remain as major shareholder of BjCorp with holding of 500 million Bj Corp (if Penta swap the second batch of bjland shares with Bjcorp shares, as projected above).

Posted by OceanSky > 2019-02-01 08:34 | Report Abuse

kahhoeng reckoned the deal between Bjcorp and Penta is illegal.
Regret to reply that the deal is fine in term of "willing buyer willing seller" basis.
Penta act as Agent to consolidate those Bjland shares witheld by other foreig fund manager. last week is transaction with Macquarie Bank Ltd., and this week with Golden Sachs.
Between Penta and BjCorp, they are still close partner as they remain major share-holder at BjCorp.
However, retailers hv lost the biggest supporting arm to against to de-listing exercise.

Posted by OceanSky > 2019-02-01 08:41 | Report Abuse

Nevertheless, the ultimate goal of investment shall be achieving good return from the share market.
As retailers, to complaint on VT is not being fair to the minority will not pull back their privatise movement.
What the retailers shall think, strategies and prepare is the next move.

Posted by freetospeak > 2019-02-01 09:16 | Report Abuse

Dun worry too much...read this u will understand more....

https://www.slideshare.net/mobile/ASMAHCHEWAN/analysis-of-compulsory-acquisition-of-shares-legal-issues-in-malaysia-and-uk

Posted by freetospeak > 2019-02-01 09:18 | Report Abuse

If the offer price is too low...jus file to court...to object...still got chance to fight one..

Posted by freetospeak > 2019-02-01 09:26 | Report Abuse

Anything below 50 sen i think no one will accept...vt also know...so mostly he will offer n counter offer again...thats why he starts low...trying to sqeeuze out every bit til the end..

Posted by Lim Ha > 2019-02-01 09:39 | Report Abuse

Anyway, dont sell your share n get more if affordable. The present price still below 38¢
Limited share in the market.united is the only strength to fight giant!

Posted by kahhoeng > 2019-02-01 09:42 | Report Abuse

the deal could be illegal because
(1) Penta direct business deal to purchase from others could actually be higher than 0.38 per share

otherwise, why the need for Penta to purchase from others first. The deal is completed within a few weeks. BJCorp could have offered to those buyers. WHY only Penta, and this is not the first time!

(2) BJCorp is ONLY buying 4+% from Penta when BJLand is already suffering from required free floating share issue. If the deal is genuine, BJCorp offer should be extended to purchase all from not just Penta, but other minorities as well

Posted by ignissimia > 2019-02-01 10:01 | Report Abuse

As a financial advisor to BJCorp, Penta can't be designated as a "Person Acting in Concert" before it crosses over the 10% shareholding limit. Therefore everything is legit so far.

Posted by kahhoeng > 2019-02-01 11:05 | Report Abuse

well, if Penta buying higher than 0.38 from others, only to sell to BJCorp at 0.38 valuation when Penta is sitting on BJLand's board (or, is it BJCorp?!?) There is nothing wrong in this?

think there is a need for SC to investigate Penta's purchase price and source of fund to alleviate BJLand minority shareholders' concern. In addition, the BJLand shares for BJCorp shares offer shall be extended to the rest of BJLand shareholders.

Posted by roberttan1006 > 2019-02-01 11:05 |

Post removed.Why?

Posted by Beza > 2019-02-01 11:11 | Report Abuse

Friends, just let the deal go through as willing buyer willing seller. Most important to push up the price to 0.38 before VT privatised BJLand. Then we can get higher offer say 50, 55, 70 cents or more.

Posted by stockraider > 2019-02-01 11:21 | Report Abuse

What we can say of Penta n BJC action ??
Penta is a wholeseller and a financier to BJC quest to privatise Bjland loh....!!

Why Bjc use Penta ??
1.To delay launching a premature GO which will eventually failed at current price at Rm 0.38 loh...!!
2. Get Penta to finance & wholesale BJLAND share to bjc at control price.
3. To initiate action sooner rather than later to kickstart the bjland buying bcos of later the price may move up.
4. VT see the value of BJLAND worth alot, so he want to lock in at least more than 80% b4 launching a MGO mah...!!

Posted by ignissimia > 2019-02-01 11:45 | Report Abuse

Bassed on the most conservative considerations, Kyoto 4 Seasons goes for USD750m and profit realised is USD350m gross. Take away 30% for taxes and misc expenses, net earnings = USD245m with half for BJLand around RM502.25m or approx 10c/share. My understanding is that VT said all this money will be returned to the shareholders before the privatisation exercise. So I guess some of us will receive a special dividend if we remain shareholders long enough. That's just the appetiser?

This way BJCorp will receive the bulk of what is due to company very fast and allow the valuation of BJLand to be reduced substantially by the amount of cash given out. Instead of paying for it first and then getting it back, it take it first and avoid paying for it, makes sense?

Posted by Beza > 2019-02-01 14:00 | Report Abuse

Make sense.

Posted by gangnam > 2019-02-01 14:14 | Report Abuse

Lol..Apart from the RM1.6 billion due to BJLand/BJCorp don't forget there's another RM222 million cash due to BJLand from Vietnam property sales with RM192 million profit. Uncle Tan with 7% direct shares in BJLand will also want his Ang Pao through a special dividend payment for all BJLand shareholders including BJCorp before the MGO/Privatisation process starting with 38 sens... GongXi Fa Cai!

Posted by Eddysurge > 2019-02-01 15:17 | Report Abuse

ignissimia, can you disclose a bit why 14% bjland sold deal, bcos is it painful memory for bjland & Bjcorp minority?

Posted by gangnam > 2019-02-01 16:04 | Report Abuse

Lol...除非你住在那里，过去不等于未来......宫西法才！

Posted by ignissimia > 2019-02-01 17:31 | Report Abuse

CHAPTER 5 SQUEEZE OUT OF MINORITY SHAREHOLDERS

Under Section 222 of the CMSA, where a Code Takeover has been made and that offer has been sccepted by holders of not less than 90% in the nominal value of those shares of that class (excluding shares already held at the date of the takeover offer by the offeror and persons acting in concert),the offeror can, within 4 months of making that offer, compulsorily acquire shares from the remaining
minority shareholders.

The successful offeror is required to give notice to the remaining minority shareholders in the forms stipulated in Schedule 5 of the Code Rules (depending on whether it is addressed to a dissenting
shareholder or a shareholder who has not accepted to the offer) within 2 months from the date the 90% acceptance condition has been achieved. This notice is to indicate its desire to acquire their shares and should include a copy of a statutory declaration by the offeror that the conditions for the giving of the notice are satisfied.

Upon receipt of such notice, the remaining minority shareholders have the option under Section 222(2) of the CMSA to serve a written demand requesting for a written statement of the names and addresses of all other remaining minority shareholders as shown in the register of members. The offeror is not entitled to acquire the shares of the remaining minority shareholders until 14 days after the posting of the written statement.

After the expiration of 1 month from the notice, the offeror is required to send a copy of the said notice and an instrument of transfer executed on behalf of all such minority shareholders by the offeror and pay, allot or transfer to such minority shareholders the amount or consideration for the shares to which
the notice relates.

Similarly, under Section 223 of the CMSA, where a takeover offer has been accepted by holders of not less than 90% in the nominal value of those shares of that class (excluding shares already held at the date of the takeover offer by the offeror and persons acting in concert), the remaining minority shareholders may within the offer period require the offeror to acquire its shares on terms of the takeover
offer or such other terms as may be agreed.

Posted by ignissimia > 2019-02-01 17:35 | Report Abuse

The above relates to compulsory acquisition of shares of a listed company.

Posted by ignissimia > 2019-02-01 17:52 | Report Abuse

Eddysurge, I don't understand your question. Are u trying to say that there are 14% of free float shares whose owners will cause the takeover to fail?


ignissimia, can you disclose a bit why 14% bjland sold deal, bcos is it painful memory for bjland & Bjcorp minority?

Posted by Eddysurge > 2019-02-01 18:08 | Report Abuse

ignissimia, previously understand that VT sold 14% bjland to Bjcorp with exchange for cash 70cents + warrants+ iculs issues. Latest, from this forum said that actually the Penta sold 14% to bjcorp, not VT. Is this true?

Posted by ignissimia > 2019-02-01 18:39 | Report Abuse

I think they both did the same things, from my memory.

Posted by freetospeak > 2019-02-01 18:56 | Report Abuse

Under Section 222 of the CMSA, where a Code Takeover has been made and that offer has been sccepted by holders of not less than 90% in the nominal value of those shares of that class

(excluding shares already held at the date of the takeover offer by the offeror and persons acting in concert),

90% acceptance start counting after take over launched...meaning 90% of the remaing minority shares....so if vt starts launching takeover at 90 percent...he needs 99 percent total shares in his hand b4 he can get compulsory acquisition....

Posted by freetospeak > 2019-02-01 18:58 | Report Abuse

So if one starts launching take over at 50 %..he needs to get 90 % of the remaining 50% to get compjlsory acquisition...the shares he got b4 the launch date does not count...

Posted by freetospeak > 2019-02-01 19:01 | Report Abuse

Thats why the word excluding shares acquired b4 launch date does not count into 90%...makes it quite difficult to invoke compulsory acquisition..

Posted by Eddysurge > 2019-02-01 19:04 | Report Abuse

Thanks you for sharing. High expectations can be dangerous.

Posted by gangnam > 2019-02-01 23:32 | Report Abuse

Lol...that is good news for minority shareholders...so the longer Uncle Tan delays privatisation...the more it stacks up against his favour. Anyway let's cross the bridge when the actual moment finally arrives....宫西法才！

Posted by OceanSky > 2019-02-02 08:22 | Report Abuse

To answer Kahhoeng's questions :

(1) Penta direct business deal to purchase from others could actually be higher than 0.38 per share
otherwise, why the need for Penta to purchase from others first. The deal is completed within a few weeks. BJCorp could have offered to those buyers. WHY only Penta, and this is not the first time!
Answer: Watch out the statement of Penta notice, the direct transaction between Penta and other foreign fund manager might not involve transaction cash. Penta might act as Agent for them.

2) BJCorp is ONLY buying 4+% from Penta when BJLand is already suffering from required free floating share issue. If the deal is genuine, BJCorp offer should be extended to purchase all from not just Penta, but other minorities as well.
Answer: The free floating issue will only officially trigger once the shares transferred to Bj Corp. ETA 15-02-19. Then Bj Corp will offer MGO to the remaining share-holders.

The only question is why they do not wait for Penta to finish consolidate all shares under their umbrella and offer share swap? Swap 396 million bj land with 500 million bj corp.
Can they offer two times of share swap with PEnta ?

Posted by gangnam > 2019-02-02 10:51 | Report Abuse

Lol...maybe Goldman Sachs is in a hurry to sell assets including BJLand shares to raise funds to pay compensation arising from suits from US & Malaysia Govt regarding 1MDB? & couldn't wait for Penta/Uncle Tan to consolidate...

https://www.thestar.com.my/business/business-news/2019/02/02/goldman-sachs-says-1mdb-scandal-could-hit-pay-for-top-executives/

Posted by hkchee78 > 2019-02-02 18:52 | Report Abuse

http://s1156.photobucket.com/user/hkchee78/media/IMG-20190129-WA0004_zps61i0bqcm.jpg.html

Posted by leek > 2019-02-03 11:19 | Report Abuse

WHY VT NOT SMILING IN THE PHOTO? LGE TOLD HIM SOME MORE BAD NEWS TO BJTOTO??? LOLZZZ

Posted by gangnam > 2019-02-03 13:48 | Report Abuse

Lol...maybe Uncle Tan's playing poker face with LGE..since Lou Ma has taken over personally from LGE to renegotiate the ECRL with China & coincidentally BJLand has just incorporated a new Infra subsidiary for what? Hope somebody can still sell some BJLand shares cheap..the cheaper the better!..宫西法才！

https://www.channelnewsasia.com/news/asia/malaysia-china-east-coast-rail-government-talks-confidential-11184290#cxrecs_s

Posted by martinchua88332 > 2019-02-05 03:34 | Report Abuse

hkchee7 ,genting's boss was not invited or did not attend . due to new sin tax ?

Posted by ivan9511 > 2019-02-05 13:58 | Report Abuse

Wait outside share less than 1% .
You sell 5ringgit . The boss also beg you please sell to him.
If you offer 50ringgit the boss also sapu.
Because inside is many billions after sapu then private casino and apple also got cash mah

Posted by ignissimia > 2019-02-07 12:29 | Report Abuse

Yu Kan Chon dueled valiantly with Quek LC but not looking at scooping some cream off VT's moves with BJLand? VT is too good to tangle with?

Posted by leek > 2019-02-08 10:11 | Report Abuse

PENTA SELLING BJCORP AND COLLECTING BJLAND... HEHE

Posted by leek > 2019-02-08 11:06 | Report Abuse

PENTA SELLS BJCORP 0.275, BUY BJLAND 0.275, THEN SHARE SWAP AGAIN... FREE MONEY....

Posted by Richard Lee > 2019-02-08 15:17 | Report Abuse

Misai Tan should consider make a film "The fox of Bursa Street".

Probably will got Oscar best director award

Posted by hng33 > 2019-02-11 11:28 | Report Abuse

Add more bjland at 27.5sen

Posted by Eddysurge > 2019-02-11 22:12 | Report Abuse

Bjmedia issue price rm1, now at pn17. Considered overdraft/bankruptcy . Wtf management doing?

Posted by neverlose > 2019-02-12 11:01 | Report Abuse

bjland and bjcorp affect each other?

Posted by gangnam > 2019-02-12 11:01 | Report Abuse

Lol...2月23日是创始人的日子。谭叔叔接下来做什么? Chor 8！谭叔叔将在创始人日宣布什么？ 由于BJLand拥有BJToto的40％！

http://www.theedgemarkets.com/article/btoto-inks-jv-explore-businesses-sri-lanka

Posted by hng33 > 2019-02-12 14:34 | Report Abuse

1. As for Berjaya Land’s plan to sell Four Seasons Hotel and Hotel Residences Kyoto, Tan says the company is talking to several parties. The selling price will be high as it is a trophy asset.

“It will be good for us to focus on Malaysia. We also have to fund many other projects. So logically, we will sell [the Kyoto hotel assets]. We can’t keep so many assets. We have to sell to manage our debt equity ratio as well,” he says

<------ monetize asset by selling price range USD 750-800m, and to reap gain USD 350-400m, these translate into cash out from fixed assets into liquid assets for whopping RM 3-3.3 billion, a cash tag that is bigger than entire bjland + bjcorp whole capitalization


2. As for his plan of listing the group’s hotel business in Singapore, he says he is looking into it but it is not finalised yet as the company is still in talks with some minority partners.

“The hotels that we do not sell, mostly our Malaysian hotels, we plan to list in Singapore. We want to list here in Malaysia but we are not able to because of the chain-listing rules,” he says.

<------ Bjcorp need to take over remaining minority bjland stake and delist first from bursa before it can list into Singapore exchange for higher valuation. The taking over minority stake 16% bjland only need about RM 300m if based on cash offer 38sen.

http://www.theedgemarkets.com/article/berjaya-land-inks-second-agreement-four-seasons-hotels-and-resort

Posted by leek > 2019-02-13 14:46 | Report Abuse

Hng33 Sai Lang la

Posted by leek > 2019-02-13 15:18 | Report Abuse

WHO SET ROADBLOCK AT 0.28???

Posted by gangnam > 2019-02-13 15:33 | Report Abuse

Lol...今天是玉皇大帝的生日...... 2月23日将是谭叔叔的生日......在与京都，首尔和洛杉矶的潜在买家见面后，他会带来什么消息？