Actually if everyone buys and keep at current price ,& treat as FD..Penta's 3% will be depleted very soon.. demand & supply will dictate the future direction of price since limited float of 15% left?
VT will make offer after 6 months from Penta's deal (so he can make lower offer) and before the next qr. His intention is to delay the good qr so the share price can stay low (the reason to coincide with the new financial year end of its ultimate holding company, BJCORP is totally bullshit as BJTOTO & BJFOOD did not change the financial year). So July-August will be the month and we will expect lower offer than Penta's deal.
vt is a cheapskate crook. cannot even compare to the leg of the late boss of ioi.
He was once embroiled in a hostile takeover bid for an associate company. He also undertook two privatisation exercises — IOI Oleochemical Industries Bhd (formerly known as Palmco Holdings Bhd) and IOI Properties Bhd. He also relisted the group’s property operation. In July 12, 2001, Lee received a courtesy phone call from Sime Darby Bhd group chief executive Tan Sri Nik Mohamed Nik Yaacob, informing him of the group’s intention to take over Palmco — an oleochemical company in which Lee’s IOI Corp Bhd held a 32.1% stake — at RM4.35 per share. It was perceived as a hostile bid then. At the time, Tan Sri Ahmad Sarji Abdul Hamid was the chairman of Sime Darby. Just when many thought that it was too tough a battle for Lee to fight with Sime Darby, a diversified conglomerate with strong financial muscle and the backing of its parent, Permodalan Nasional Bhd — which is known to have deep pockets — in a few hours, IOI Corp announced that it did not intend to accept Sime Darby’s offer. Within days, IOI Corp launched a mandatory general offer for Palmco by matching Sime Darby’s offer after it had converted its warrants to bump up its shareholding to 36%. Consequently, this forced Sime Darby to raise its offer price to RM4.60 per share, and that marked the start of the takeover tussle. It was a battle that Lee had to fight. Speculation was rife that the hostile bid for Palmco could be only a ploy to distract and exhaust IOI Corp’s financial resources to make the plantation group vulnerable as a takeover target. Was there any truth to it? It is not relevant at all now. Nonetheless, the little-known Palmco was indeed a prized asset that Lee spotted and grabbed a 32.96% stake from Mega First Bhd at RM4.35 per share, or RM249.2 million in total, in 1997. Being the largest oleochemical producer in Malaysia, and possibly Asean then, Palmco acted as a natural hedge for IOI Corp’s profits when crude palm oil prices were in a downcycle. It is not hard to fathom why Sime Darby also cast its eye on Palmco — it would be a great platform to expand its downstream activities. The takeover saga lasted for about three months, during which both parties spent big money mopping up as many shares as possible to gain control of Palmco. In October that year, IOI Corp managed to accumulate more than 50% equity interest and, consequently, Palmco remained within the group. Palmco, which was renamed IOI Oleochemical later, was taken private by IOI Corp in 2005. Minority shareholders were given the choice of cash option of RM11.08 per share or cash plus IOI Corp share option. The privatisation exercise cost RM872 million.
Impossible to 0.15 newbie921. If it happened, I would take out RM100k extra to more more. Now hanging around 0.19 to 0.20. Plus sell all yours down to 0.15.
Not really. As long as VT lives, he will buy back by the end of this year. That the risk (minimal) for BJLand. If he passes away, no such deal anymore. His son is a very stingy and useless man.
fundamentally speaking, bjland has potential but the crook or greedy cause the share price hard to go up like fgv. fgv has changed the CEO, CFO and refocus on core biz, sell off non-core biz like a rojak.
bursa and sac should come out to deter related companies among berjaya group of companies to buy one another to the disadvantages of minority shareholders in the respective companies because it does not maximize shareholders' value in the respective companies. if we have rules on share buyback, why can't we have rules on buying shares among related companies to prevent manipulation or cheating minority shareholders or not in their interests for public listed companies. period!
bjland is more valuable now.. 40% shareholding bjtoto has increased in value.
CIMB Research raised its earnings forecast for BToto by 1.9%-2.7% for the financial years (FY) ending April 30, 2020, to 2021, to 20 sen per share, respectively, to reflect a slightly lower NFO prize payout ratio. It estimated BToto’s FY22 earnings to be 21 sen per share. BToto’s net profit doubled to RM70.2mil for the fourth quarter ended April 30, 2019, from RM35.2mil million in the corresponding quarter last year, thanks to lower prize payout and a decline in operating expenses. For the quarter in review, its revenue rose 8% to RM1.51bil from RM1.4bil previously. BToto declared a fourth interim dividend payment of 4.5 sen per share. For the 12-month period, BToto’s net profit rose 20% to RM276.4mil from RM229.7mil in the preceding year, while cumulative revenue was up a marginal 1% to RM5.72bil from RM5.66bil. Meanwhile, TA Research raised its DDM-based target price for BToto to RM2.29 from RM2.21, but it reiterated its “sell” recommendation on the counter, given the looming risks to the company’s FY20 earnings. “The current dovish interest rate environment bodes well for dividend-paying stock like BToto with a resilient dividend yield of more than 5%. “However, we remain cautious on Malaysian economy and worry about Brexit, which may dampen consumer sentiment and spending power,” TA Research said. “Also, note that FY20 will begin to see the first full-year impact of reduction in special draws by half and the absence of tax holiday,” it added, noting it expected BToto’s NFO division to register earnings contraction of 7.4% year-on-year. Kenanga Research, however, was optimistic on the prospects of BToto, rating the stock “outperform” with a higher target price of RM3, compared with RM2.95, as it rolled over the valuation base-year to FY20 from FY19. The new target price, the brokerage said, implied an undemanding FY20 price-earnings ratio (PER) of 14.4 times. “We still believe there is still room for higher earnings given the continuous enforcement against the illegal operators. It still trades at attractive PER of 12-13 times with above average yield of more than 6%,” Kenanga Research said. BToto’s shares gained six sen to close at RM2.66 yesterday.
vt should not misuse the dividend from bjtoto to support and buy related companies punya syer which does not maximize or add value to bjland shareholders
SC and bursa should create a policy on using money of public listed companies to buy related companies' shares of directors which does not enhance shareholders' value.
during the coming agm, shareholders must urge vt to distribute at least 50% of the dividend receivable from bjtoto to the shareholders of bjland and dont misuse it to buy related companies punya syer belonged to vt...
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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....
stahl2017
310 posts
Posted by stahl2017 > 2019-06-19 15:54 | Report Abuse
Kenn Ong, nothing good bout this share, just purely gambler with VT, no fundamental, technical analysis can pakai here