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9,283 comment(s). Last comment by bahai4453 at Jul 10, 2020 6:43 PM
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kahhoeng
3373 posts

Posted by kahhoeng > Jul 5, 2020 5:18 PM | Report Abuse

VT mentioning about selling a hotel in Vietnam, probably this one?

a 50% ownership in Berjaya Hotay Joint Venture Company Limited Vietnam, five star hotel and provision of related services

Group 30.6.2019 RM'000
Non-current assets 202,628
Current assets 8,186
Non-current liabilities (107,230)
Current liabilities (22,289)
Net assets 81,295


wantanmi
206 posts

Posted by wantanmi > Jul 5, 2020 5:30 PM | Report Abuse

Yup!... The visual proof is in the pudding.. on changes in BJLand Public Shareholding from 21 March to 5 July 2020.

BJLand Public Shareholding of 3% taken on 21 March vs Public Shareholding of 10.8% taken on 5 July 2029

https://ibb.co/6b9TtHL
https://ibb.co/crjqbC0

BJLand Top 18 Shareholders with Macquarie Bank still holding 4.93% & Goldman Sachs 2.59% before sold down on 21 March 2020 vs Top 18 Shareholders without Macquarie Bank & Goldman Sachs taken on 5 July 2020

https://ibb.co/DK7sT0Q
https://ibb.co/DGNXYvr


wantanmi
206 posts

Posted by wantanmi > Jul 5, 2020 5:38 PM | Report Abuse

btw Public Shareholding for above instance means General Public Shareholding in the screenshots of BJLand Ownership mentioned above.


kahhoeng
3373 posts

Posted by kahhoeng > Jul 5, 2020 6:13 PM | Report Abuse

err... this at best saying institutional buyers have sold their BLand, no mention about who's holding them. This could also explain why the price is lower, i.e., institutional investors selling down to clear their position?


Eddysurge
1737 posts

Posted by Eddysurge > Jul 5, 2020 6:15 PM | Report Abuse

This only explained the foreigners fund are leaving the stake holding, replaced by general public holding? Right! Yes or No.


gangnam
543 posts

Posted by gangnam > Jul 5, 2020 6:43 PM | Report Abuse

Lol...Bro Macquarie Bank is a known collaborator with Penta who is Uncle Tan associate and also structured warrant issuer for Berjaya group loans while Goldman Sachs was a previous Berjaya collaborator currently having issues with IMDB compensation with US Justice Department & also Malaysia? Hence the selldown by this group which Uncle Tan could't resist to buy in March..


Eddysurge
1737 posts

Posted by Eddysurge > Jul 5, 2020 7:01 PM | Report Abuse

Goldman Sachs & Macquarie Bank sold their stake holding through open market ? Unless The benefiter decline to accept due to too priced. And if they sold at open market, you know who will bought eventually? Between this period, bjland didn't show any advantage prices. If the beneficiaries didn't buy means they are too kindly or they don't want to support the market price. But somehow operator supporting the market price but lower at least . Assuming someone behalf of someone bought, what's their motives?


kahhoeng
3373 posts

Posted by kahhoeng > Jul 5, 2020 9:06 PM | Report Abuse

Dear Lydia,

With reference to Jeju Court Settlement, may I confirm the amount that BJLand would receive through its 100% subsdiary BLCL will be KRW102.00 billion (approximately RM362.19 million)?
With reference to BLand FY 2017 annual report, the carrying net asset of BJeju is RM 521.325 million, of which equities attributable to owners of the parent is RM 378.475 million. How would this court settlement results in an estimated gain of RM 59 million. Or, was I wrong in that BLCL is actually receiving more than RM 378.475 million?

Thanks.

Best regards,


simon2020
158 posts

Posted by simon2020 > Jul 5, 2020 10:36 PM | Report Abuse

I remember that there was partial payment by JDC of RM374.5M to BJLand's building contractors when Jeju Land Project was mutually terminated by BJLand & JDC in March 2016 (that's why no impairment provisions) with the remainder sum of RM646M of BJLand initial investment in the Jeju Island project to be recovered by court settlement.

Under court managed Settlement Agreement announced on 30 June 2020, all parties agree to resolve all disputes arising from the Jeju Project via payment by JDC comprising of:

RM443.88 + RM362.19 = RM806.07M, less the remainder sum RM646M for BJLand initial investment, JDC has paid extra (RM806.07 - RM646) RM160.07M over BJLand's initial investment?


stockraider
16059 posts

Posted by stockraider > Jul 5, 2020 10:45 PM | Report Abuse

U need to understand getting back all the capital, plus rm 59m profit is a great feat mah....bearing in mind bland nta is 80 sen but market share price only 18 sen mah...!!

Thus if the collection is completed & payout...bland should deserve a rerating mah...!!

Must give credit to VT for his hard & dedicated work, which is very difficult and challenging for fighting against the korean govt bravely mah...!!

Posted by kahhoeng > Jul 5, 2020 10:36 PM | Report Abuse

Initially, I thought there are 2 parts of compensation, one amounts to 443.88 million to BLCL and SSP, and another amounts to 362.19 million to BJR. After re-reading the announcement, it seems that the 362.19 million is the eventual amount that BLCL is receiving after all expenses are paid. The carrying net asset value of BJR is 521.325 million prior to the court case, of which BLCL's stake is worth 378.475 million.

Fainted, and VT is saying seeking "huge" compensation??? Yet, Lydia is telling me a net gain of 59 million is to be expected? Wonder which part of it that I am not understanding???


kahhoeng
3373 posts

Posted by kahhoeng > Jul 5, 2020 10:48 PM | Report Abuse

I guess that's why market is not excited over the news at all, really need to read extra carefully what BLand is announcing, I guess.


simon2020
158 posts

Posted by simon2020 > Jul 5, 2020 10:49 PM | Report Abuse

That's why its important to insist in your email to Lydia that she provides the details on how she arrived at the 59M net profit or is it RM160M actual gain? in order to clear all confusion once for all and not a standard two liner in her earlier reply..


stockraider
16059 posts

Posted by stockraider > Jul 5, 2020 10:55 PM | Report Abuse

U should be excited mah...bland get more than rm 400m cash just on jeju case alone, but its mkt cap is less than rm 1b mah...!!

But market wants to see...monies actually collected & bank in...b4 it react with rerating mah...!!

They are still doubtful & skeptical whether bland can get the settlement proceeds loh....!!

Posted by kahhoeng > Jul 5, 2020 10:48 PM | Report Abuse

I guess that's why market is not excited over the news at all, really need to read extra carefully what BLand is announcing, I guess.


simon2020
158 posts

Posted by simon2020 > Jul 5, 2020 11:08 PM | Report Abuse

You forgot to include another RM650M cash coming from successful GMOC Arbitration due from Beijing SkyOcean?


stockraider
16059 posts

Posted by stockraider > Jul 5, 2020 11:08 PM | Report Abuse

U r double counting mah...!!

How much debt is pare down after getting net of debts Rm 400m leh ??


"after paring down the debt", BLand will only receive about 400 million that can have an impact on BLand's balance sheet. BLand has short-term investment and deposits amounting to 745 million and total debt of 3,336 million (short-term debt 1,272 million and long-term debt 2,063 million). The total net debt is about 2,591 million, of which 835 million is due to BToto. So, total net debt BLand is owing should be about 1,756 million.

Posted by kahhoeng > Jul 5, 2020 11:03 PM | Report Abuse

Also, I took some time reading into BLand annual report, and I found BKDS, the Kyoto Four Seasons hotel, has a net asset value of 399.246 million, with a non-current and current liabilities of 948.295 million and 179.972 million, totalling 1128.267 million. Because BKDS is treated as an associate company of BLand, after paring down the debt, BLand will only receive about 400 million that can have an impact on BLand's balance sheet. BLand has short-term investment and deposits amounting to 745 million and total debt of 3,336 million (short-term debt 1,272 million and long-term debt 2,063 million). The total net debt is about 2,591 million, of which 835 million is due to BToto. So, total net debt BLand is owing should be about 1,756 million.

So, assuming BLand is receiving 400 million from Kyoto disposal and 362 million from Jeju settlement, BLand total net debt excluding Toto should still be about 994 million, a far off from debt free. My goodness, I was so wrong! Hopefully, someone can show me I am wrong...


stockraider
16059 posts

Posted by stockraider > Jul 6, 2020 8:11 AM | Report Abuse

Correctloh...must be pragmatic & rational mah...!!


Posted by simon2020 > Jul 5, 2020 11:25 PM | Report Abuse

While you are busy counting the debts, you must not forget they are backed by NTA of 86 sens per share or total assets of 4.3 Billion which are generating cash flow & profit for the company...



Posted by simon2020 > Jul 5, 2020 11:53 PM | Report Abuse

BJLand net debt of RM610M vsTotal Assets of RM4.3 Billion gives an Assets to Debt Ratio of only 0.0142% which is still low and manageable..

"A lower debt-to-asset ratio suggests a stronger financial structure, just as a higher debt-to-asset ratio suggests higher risk. Generally, a ratio of 0.4 – 40 percent – or lower is considered a good debt ratio".


Paulnga
105 posts

Posted by Paulnga > Jul 6, 2020 8:57 AM | Report Abuse

Dear shareholders, Remember this figure, NTA 86 sen and total assets 4.3 B when Ah Tan want to put BJland in his pocket, don’t let go cheap cheap!


Eddysurge
1737 posts

Posted by Eddysurge > Jul 6, 2020 9:15 AM | Report Abuse

I think bjland stake holders by minority within 10%, others is belonging to Cronies. The objective is to sell higher price. The only way minority can gain is through company support market price or privatisation.


bahai4453
1531 posts

Posted by bahai4453 > Jul 6, 2020 9:52 AM | Report Abuse

Lol.... Dreamland from a "Balacan Corp"...cuma 0.18 ....lol..

NTA of 86 sens per share or total assets of 4.3 Billion which are generating cash flow & profit for the company...


WilburR2
587 posts

Posted by WilburR2 > Jul 7, 2020 9:11 AM | Report Abuse

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3066249

comments please


WilburR2
587 posts

Posted by WilburR2 > Jul 7, 2020 9:13 AM | Report Abuse

dividends or not?


kahhoeng
3373 posts

Posted by kahhoeng > Jul 7, 2020 9:53 AM | Report Abuse

err... email bland investor relation? doubt any of us here has any credibility to confirm if there's a dividend.


shortinvestor77
4303 posts

Posted by shortinvestor77 > Jul 7, 2020 2:27 PM | Report Abuse

Those with confident will have it. No confident don't get it.


Paulnga
105 posts

Posted by Paulnga > Jul 7, 2020 2:56 PM | Report Abuse

Sell a lot of assets, accumulated a lot of cash, but don’t pay dividends and buy in more boss shares, this is VT’’s strategy to bully minorities share holder.


shortinvestor77
4303 posts

Posted by shortinvestor77 > Jul 7, 2020 3:49 PM | Report Abuse

Ya, better leave this counter forever. Don't talk bad but still hanging here. We just want to laugh.


Leong1982
509 posts

Posted by Leong1982 > Jul 7, 2020 5:51 PM | Report Abuse

Many aunties uncles retirees got their retirement funds stuck in Berjaya counters.
Poor retirees everyday cursing the Operator!


wantanmi
206 posts

Posted by wantanmi > Jul 7, 2020 7:18 PM | Report Abuse

Yup!...interesting, more machais than others.


OceanSky
128 posts

Posted by OceanSky > Jul 8, 2020 9:00 AM | Report Abuse

Re-cap the corporate proposals (B7) and litigation (B9) of BjLand:

A. STC case, it has new hearing date of the Main Appeal on 2-9 July 2020, it made STC case will go on for some-times. BLand has pre-payment of RM230 million for STC development. (Pg 166, 12. Receivables, clause c. )

B. GMOC case closed, there is inflow of RM600 mil ++ (Group level)

C. BVFC and BVIUT case. The disposal nego started 4 June 2018. Value RM155 mil + others.
Once the deal closed, there is inflow of RM155 mil ++

B9. JDC Lawsuit, Jeju, case closed, there is inflow of RM600 mil ++ (Group level)


On top of the above, the additional could be:

1. Disposal of Sheraton Hotel at Hanoi, It could bring in inflow of RM500 mil ++.

2. Disposal of Four-Seasons Hotel at Kyoto. BjLand only can declare RM225 million share of profit, as it is an associated company of BLand.
Please noted that neither asset nor liability of Four-Seasons Hotel Kyoto is registered in BLand Balance Sheet.
It was miss-interpretation to register it's Book value at BLand level.

Summary of BLand (Group Level) cash inflow:
1. STC pre-payment, RM230 million
1. GMOC, arbitration, RM600 million
2. Jeju JDC law-suit, RM600 million
3. BVFC and BVIUT, RM155 million
4. Sheraton Hotel, Hanoi, RM500 million
5. Four-Season Hotel Kyoto, RM225 million.

Total cash inflow, RM2,310 million.


OceanSky
128 posts

Posted by OceanSky > Jul 8, 2020 9:18 AM | Report Abuse

Further study on BLand (Group Level) total borrowings:

Total borrowings:
1. FY-2019, 30-06-2019; total borrowings, RM2,980 million
2. FY-2020, 30-09-2019; total borrowings, RM2,990 million (Up only RM10 million from FY-2019)
3. FY-2020, 31-12-2019; total borrowings, RM2,130 million (Up RM150 million from FY-2019)
4. FY-2020, 31-03-2020; total borrowings, RM3,336 million (Up RM356 million from FY-2019)

Total long-term borrowings:
1. FY-2019, 30-06-2019; total L-T borrowings, RM1,648 million
2. FY-2020, 30-09-2019; total L-T borrowings, RM1,703 million (Up RM55 million from FY-2019)
3. FY-2020, 31-12-2019; total L-T borrowings, RM1,868 million (Up RM220 million from FY-2019)
4. FY-2020, 31-03-2020; total L-T borrowings, RM2,063 million (Up RM415 million from FY-2019)

From above, BLand long term borrowings are increasing very aggressively.
Plus the above cash inflow of RM2,310 million.

What will be next ???


kahhoeng
3373 posts

Posted by kahhoeng > Jul 8, 2020 4:25 PM | Report Abuse

1.6 million shares sold at 0.175 after nobody want to buy?


roundcateye
85 posts

Posted by roundcateye > Jul 10, 2020 6:06 PM | Report Abuse

https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3067681

Interesting.
http://disclosure.bursamalaysia.com/FileAccess/apbursaweb/download?id=71860&name=EA_GA_ATTACHMENTS


mf
19796 posts

Posted by mf > Jul 10, 2020 6:07 PM | Report Abuse

Dr M will attempt vote of no-confidence against Muhyiddin at Parliament again next week
Syahirah Syed Jaafar
/
theedgemarkets.com

July 10, 2020 17:15 pm +08


bahai4453
1531 posts

Posted by bahai4453 > Jul 10, 2020 6:43 PM | Report Abuse

KUB sells 40 pct stake in KUBE to Berjaya Group ... - BERNAMAwww.bernama.com › business › news
Jun 25, 2020 - It said the disposal consideration of RM80 million was arrived at on a willing buyer-willing seller basis and was within the valuation range ...

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