Berjaya Land Berhad ("BLand") has received a notification dated 24 May 2019 from Tan Sri Dato' Seri Vincent Tan Chee Yioun, a Director of Sports Toto Malaysia Sdn Bhd, a major subsidiary of BLand, that he intends to deal in the securities of BLand during the closed period. His interest in the securities of BLand as at 24 May 2019 is set out in the table below:
No need so much...just like Penta/BJCorp deal for starters is good enough...we will know who made the DBT deal by end of the day...no news yet on BJLand latest Qtr's. results in the BizEdge, TheStar & BizTimes yet.. must be an embargo request by VT pending positive announcements? Also my little bird is unusually quiet today?
NOBODY KNOWS THE FUTURE............ ANYTHING CAN HAPPEN TO BJLAND.... NOT MEANINGFUL ANYMORE, ABOUT 15% OF BJLAND SHARES IN PUBLIC HAND... EVEN A NEW IPO NEEDS 25% SHAREHOLDINGS IN PUBLIC HAND HAHA
ASED ON THE THIN SHAREHOLDINGS IN PUBLIC HAND, PRIVATIZATION IS VERY LIKELY.... TAK KAN VT MAU RETURN BJTOTO SHARES TO BJLAND SHAREHOLDERS BEFORE PRIVATISATION :)
MAYBE, TO PLEASE SHAREHOLDERS OF BJLAND, VT DISTRIBUTE ALL BJASSETS SHARES ON A PRO-RATE BASIS. RETAINED EARNINGS HAD EXCEEDED rm250MIL AS AT 30.4.2019 AS PER THE QUARTERLY REPORT.... BAGUS
NO HURRY TO SELL, ACCUMULATE MORE... ANOTHER SHOW IN AUG 2019 FOR THE RELEASE OF 14-MONTH RESULTS BASED ON THE NEW ACCOUNTING PERIOD.... EVEN MUCH HIGHER PROFIT.... HAHA
Err... Here's my understanding. While BJLand has posted profit this quarter, its mainly due to asset disposal. Operating cash flow, while improved, is still in the negative region if BJToto's operating cash flow is removed. Net debt is further reduced, from 1.8 billion to 1.5 billion (BJToto's net debt is not included here), but is still significant, unless proceed from other disposal in Vietnam or Kyoto is materialized, or money from court cases, Jeju, China and Selangor, are settled. BJLand is still paying 120 million interests expenses FY 2019 (BJToto's 50 million interest expenses is excluded here.) All can be said is, BJLand's balance sheet is improving, but not as rosy unless court cases or Vietnam/Kyoto disposals are completed. My guess, current share price that's lower despite improved condition has to do with BJLand's extremely low shareholding spread and market anxiety over this company's operation....
it is crazy, spent a lot of money on acquiring about 10% of bjassets shares and not paying dividend since 2014... retained earnings amounted to RM250mil+.... then, distribute bjassets shares to bjland shareholders on a pro-rata basis as suggested earlier :)
bjland is worthy for case study for finance classes at universities......... it might involve corporate governance and accounting standard loopholes pertaining to thin shareholdings and buying of related companies punya shares e.g. linked to ultimate holdings co, etc etc. sigh!
net assets per share = 85sen, retained earnings >RM250mil+, share price 19.5sen.... but bjland keeps buying bjtoto, bjassets shares, correct me if i were wrong haha
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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....
Investor 8
104 posts
Posted by Investor 8 > 2019-06-25 15:44 | Report Abuse
25/06/2019 11:28
Direct Business Transaction
35 mil
17.35 mil
46.14 mil
38.86 mil units
Hope is VT
Then later can announce privatisation