B-group重组计划，到底在搞什么鬼？

leeccg

老狐狸的重组计划成功了。但是新公司一上市就猛跌６０％以上，根据分析家说，VT 也损失了整６亿。其实，他根本没有什么损伤，主要原因是他高价卖Bukit Tinggi给自己的公司时已赚不少，使他很自然的额外获取大量股票，然后，他利用新公司的股票来还债。债是可能还了，但是，他却一点损失也没有。反而在表面上减轻了公司的负债率。

接下来是他的INTAN，他利用INTAN的名义借钱，以低价买入金蛋BTOTO，一个转手，除了利用这机会减轻集团的内部债务，而且，又没有损失的情况下将BTOTO转入自己的另外一只手中。何乐而不为呢？

以我看，他接下来的计划是要抬高BCorp的股价，以便将他现在０。１６时入的货慢慢出货套利。大家耐心等待吧。。

web

真佩服你们！连陈志远都敢动！？

我只动过BJTOTO 和 HBJCORP。
HBJCORP是我看到很高EPS和满街HYUNDAI ATOS， GETZ才买的，赚了一笔。本来以为可以赚更多，半路却杀出程咬金SIME DARBY收购。

BJTOTO现时股价加上股息和资本回归，我已赚了一倍以上。现还守住，因为还没有新的＂灵感＂。

嘎！嘎！嘎！

Agree!! 大家耐心等待吧。。

psrngurney

他引人去買bjcorp-lc換去母股bjcorp可以得到可觀的盈利，但是今天看來買來換的人中槍了！

leeccg

原帖由 psrngurney 于 16-1-2006 09:26 AM 发表
他引人去買bjcorp-lc換去母股bjcorp可以得到可觀的盈利，但是今天看來買來換的人中槍了！

赞同！今天B－corp再跌到０。１２，已经跟B－corpLC转换价一样了。老狐狸真厉害，如果是这样，他可能会在最近的业绩公布坏的消息，再进一步降低股价，然后再慢慢吸购，现在他最有可能再炒回去的价钱应该是０。２吧。（但是不知道他几时才出手）。反正他通过Btoto已经进帐不少。。。B－corp给他的损失只是跟他抓痒而已。。。

Company Name : BERJAYA CORPORATION BHD  
Stock Name/Code : BJCORP - 3395  
Disseminated Datetime : 17-01-2006 14:58:19
Headline : BJCORP- Conversion of RM523,698,661 Nominal Amount of Irredeemable Convertible  

Unsecured Loan Stocks 2005/2015 ("Conversion of ICULS")LISTING'S CIRCULAR NO.
L/Q : 34829 OF 2006
Kindly be advised that the abovenamed Company's additional 261,849,305 new
ordinary shares of RM1.00 each arising from the Conversion of ICULS will be
granted listing and quotation with effect from 9.00 a.m., Thursday, 19 January
2006.

SECTOR HEAD, ISSUES & LISTING

"今天B－corp再跌到０。１２，已经跟B－corpLC转换价一样了"

你怎样知道？？

Takumi

http://www.investssmart.com/2006 ... orp_bjlan.html#more

Market Talk: BJCAP, BJCORP & BJLAND
DJ MARKET TALK: BJCap, BJLand Slide Post Debt/Equity Issue
03/01/2006 02:57:00 PM

1457 [Dow Jones] Berjaya Capital (4499.KU) down 14% at 86 sen after completing 90 sen/share capital repayment following bonus issue of up to 794.99 million shares on 7-for-5 basis and 10-into-1 share consolidation; company plans 158.4% dividend-in-specie/share via distribution of 548.32 million new 10-year irredeemable convertible unsecured loan stocks (ICULS) at 50 sen each to settle intercompany loans. Berjaya Land (4219.KU) down 43.5% at 46.5 sen after similar bonus issue of 890.3 million shares, capital repayment of 80 sen/share to be satisfied via issue of 0% coupon ICULS and 5-into-1 capital reduction. Deals will settle intercompany loans and bank loans worth MYR4.6 billion. "The steep fall in share prices is not surprising as raising cash from shareholders to pay off intercompany loans is almost always a negative," says broker. Expects stocks to drift around current levels for now.(VGB)

DJ MARKET TALK: BJCorp Down 80% Post Revamp Exercise
03/01/2006 03:36:00 PM

1536 [Dow Jones] Berjaya Corp (3395.KU) most active stock; down 80% at 20 sen vs reference price of MYR1 with 15.5 million shares traded following group-wide restructuring, bonus issue, capital repayment, capital reduction exercise and issue of 9.2 billion ICULS at 50 sen each to pay off intercompany loans and bank borrowings. "Effectively, the exercise results in shareholders forking out money to resolve the group's debt issue," says trader, explaining steep fall in share price. Stock poorly covered by analysts, with almost no interest from local and foreign funds due to persistently high debt, perceived lack of transparency, he adds. Expects stock to drift around current levels. (VGB)

Investssmart: I have looked through the restructuring scheme on the Bursa Malaysia announcements. It is almost impossible to clearly understand what they are doing but that has been the trademark of the Berjaya Group of companies. My conclusion for the revamp exercise is:
1) Issuance of more ICULs
2) Capital Reduction
3) Raise more cash from shareholders

The cash raised and ICULs issued are used to settle its huge intercompany loans and bank loans. The Berjaya Group of companies are notorious for its intercompany loans. That is one of the reasons that held BJTOTO share price back. BJLAND still owes BJTOTO about $600m. In this restructuring exercise, BJTOTO is not affected.

Another ridiculous thing about these companies is that their starting share price today is set at a reference price of $1. That is bullshit. BJCORP last traded at 8.5c. With a 5:1 share consolidation, it should start trading at 42.5c. Instead, it was given a reference price of $1. Of course, the share price will drop. I see this merely as a trick to entice punters who are normally more than eager to snap up stocks that dropped 80% a day!

BJLAND and BJCAP are badly affected by the steep drop in BJCORP because BJCORP owes them money and is settling them via issuance of ICULs, based on the nominal value. One of the restructuring exercise in BJCORP is:

"Settlement Of Inter-Company Balances On Behalf Of BJGroup By BJCORP With Berjaya Land Berhad Through The Issuance Of Up To 4,108,666,000 New BJCORP ICULS And With Berjaya Capital Berhad Through The Issuance Of Up To 3,654,954,000 New BJCORP ICULS And Cash Settlement Of RM130,201,000"

The ICULs have a nominal value of 50c but it is now trading at just 6c, which means that BJLAND and BJCAP actually receive only 6c for every 50c BJCORP owes it. As mentioned above, Berjaya Group of companies receive little attention from analysts because of its poor corporate governance and transparency. And we all know who's the one behind the Berjaya group of companies. Thinking of investing in BJ companies (except BJTOTO), INTAN, MiTV or NSCOM? Forget it. Better just bring your money to Genting Casino.

leeccg

虽然Bcorp的重组计划很烂，虽然他的老板很奸诈，虽然现在对它的都是负面新闻，虽然它真的很没有投资价值，虽然它很不透明而且又还有很多烂帐。

但是，Bcorp所拥有的公司很多，也拥有很多地皮，和很多值钱的公司，所以，这次它巧用手段来抵消公司的内部债务，的确已经解决了大部分。虽然连累了Bland和Bcap,但也已经算是减轻了自己的负担。所以，等它的B－LC转换成母股完全流通于市场后，它的价位就会慢慢稳定，如果以老狐狸自己hold着整６０％股票的基本考量的话，他一定会想尽办法推高股价的，只是不知道几时而已。不过这也只是本人的猜测，是真是假真的好像去云顶一样，赌一赌而已。

Takumi

http://www.investssmart.com/2006/01/market_talk_bjcorp.html#more

Market Talk: BJCORP
DJ MARKET TALK: BJCorp Recovers Slightly On CEO's Comments
05/01/2006 12:01:00 PM

1201 [Dow Jones] Berjaya Corp (3395.KU) +2.6% at 19.5 sen in heavy trade of 4.4 million shares after chairman and CEO Vincent Tan expresses commitment to group post corporate revamp. "I am not overly concerned about the current prices of shares and ICULS. As a matter of fact, I have purchased an additional 60 million BCorporation ICULS from the open market to reiterate my confidence and firm commitment in the company and the group." BJLand (4219.KU) +2% at 50 sen, BJCap (4499.KU) +0.7% at 70.5 sen but sharply off reference price of MYR1. BJCorp ICULS +8.3% at 6.5 sen but sharply off reference price of 50 sen.(VGB)

Investssmart: News reports circulating around have been saying that Vincent Tan made an $800m paper loss and that he has been purchasing more BJCORP ICULs. $800m loss? That is bullshit. How did that happen? BJCORP set a reference price of $1 for its share price when it is trading at about 40c before being suspended for restructuring. Of course, its share price dropped when it opened for trading and Vincent Tan can declare a huge loss. Tax purposes? Maybe. They could have set BJCORP reference price at $2 so that Vincent Tan can declare an even bigger loss.

BJCORP only had a market cap of $150m before restructuring. Vincent Tan pumped in another $200m to suscribe to the ICULs and injected his 85 per cent-controlled company Bukit Tinggi Resort for shares in BJCORP, valuing the resort at $685m, which I am sure is not worth anywhere close to that. Someone cunning like him won't inject something worth $685 in return for just 20% of the value in BJCORP shares (it dropped 80% yesterday).

Vincent Tan claimed to buy another 60m in BJCORP ICULs. Don't be fooled. There are about 9.8b BJCORP ICULs on issue so 60m is nothing. Purchasing 60m BJCORP ICULs only costs $3.6m at current prices, which is a pocket change for someone like him. Institutions and funds are no longer interested in the Berjaya Group of companies so he has to somehow entice retail shareholders to get on board. Yes, he might manipulate the shares, causing it to rise sharply but it is not a risk worth taking. After all, it is worth close to nothing.

psrngurney

bjcorp的public shareholder有96,549！

PN 4 的KBUNAI才有70,653 public shareholders

你說死不死呢！

原帖由 leeccg 于 19-1-2006 11:33 AM 发表
虽然Bcorp的重组计划很烂，虽然他的老板很奸诈，虽然现在对它的都是负面新闻，虽然它真的很没有投资价值，虽然它很不透明而且又还有很多烂帐。

但是，Bcorp所拥有的公司很多，也拥有很多地皮，和很多值钱的公 ...

leeccg 的ANALYST很有道里。
长久来说他是有利可途。

阴敬!阴敬!

example:
如果你有 １０，０００股 BJCORP ０。５５

但跌到０。１２ 你又买进１０，０００股。

你的AVERAGE PRICE 是 0.335

那末就没有这末DANGAROUS。

VICENT TAN MAYBE LIKE THAT。　

[ 本帖最后由 vacation365 于 19-1-2006 05:18 PM 编辑 ]

leeccg

Bcorp好像在0.10被人顶住了。

希望是好的开始吧。。。

psrngurney

bjcorp 回來0.125了！但是我買的价是0.265！哇！好遠呀~

leeccg

Intan

INTAN Utilities Bhd's share price fell 29 sen, or 9.42%, to RM2.79 yesterday after the company called off a series of corporate proposals that essentially would have seen Intan buy a big stake in Berjaya Sports Toto Bhd. While Intan would receive about RM9mil in compensation after the proposals were aborted, analysts said investors might have felt disappointed, which could be reason for the drop.

Berjaya Toto

BERJAYA Sports Toto Bhd shares gained 12 sen, or 2.65%, to close at RM4.64 after the company proposed a capital repayment of 50 sen a share to shareholders. Another reason given was the inter-company loans due to the company would still be repaid, despite a change in Berjaya Land Bhd's proposal to settle the debt.


（转载自 THE STAR）

leeccg

成功置地成功多多炙手可熱
updated:2006-01-27 10:21:18 MYT

（吉隆坡訊）市場昨日（26日）對成功置地（BJLAND，4219）堅守承諾，如期償還公司間貸款，以及成功多多（BJTOTO，1562）提前進行第二次資本回退計劃，以推高股價的實際行動作出積極回應，相反的“得而復失”的英丹公用（INTAN，6785）失去成功多多後，遭市場唾棄，以致股價大跌收市。

成功多多昨日復牌即被買盤推高至逾半年來最大漲幅，成功置地也有不俗表現。


分析員對成功置地取消脫售成功多多股權予英丹公用，改為發行債券籌資償還積欠成功多多的公司間貸款是褒多於貶，但也擔心成功置地可能無法以很好的定價發售該批債券，導致最後籌得的資金不如預期。

儘管成功多多提前（早前是宣佈於今年中）進行第二次的資本回退獲讚賞，但該公司選擇不?市搹言\置地償還公司間貸款，而選擇脫售庫存股及借貸來進行資本回退卻不獲認同，因為脫售庫存股將抑制其股價的漲勢，借貸則需承擔利息成本。

（转载自星洲日报）

leeccg

老 狐 狸 真 的 又 再 出 招 了,  意 料 中 事,  他 竟 然 很 随 意 的  出 尔 反 尔.  原 本 成 功 置 地 要 卖 成 功 多 多 给 INTAN 筹 钱 还 债,  但 现 在 却 不 卖 了.  其 实 以 前 狐 狸 早 就 不 该 公 布 那 愚 蠢 的 方 案,  因 为 成 功 置 地 拥 有 的 这 金 蛋 根 本 可 以 想 其 他 办 法 自 救,  根 本 不 需 要 INTAN  借 钱 来 帮 忙,  根 本 是 多 此 一 举,  讲 到 来,  还 不 是 狐 狸 刻 意 的 要 抬 高 自 己 INTAN 的 股 价,  其 实 这 可 能 是 狐 狸 原 本 的 意 愿,  将 金 蛋 直 接 放 进 自 己 的 口 袋,  总 好 过 间 接 的 控 制,  但 是 可 能 是 成 功 机 构 的 重 组 失 败 而 使 他 损 失 惨 重,  迫 使 他 暂 时 要 利 用 金 蛋 来 保 护 自 己 拥 有 整60% 的 成 功 机 构 和 其 他 的 成 功 公 司.  而INTAN  因 为 还 有 七 十 一 在 内,  应 该 短 暂 的 坏 消 息 不 会 影 响 他 很 大.  况 且,  之 前 我 相 信 他 已 经 在INTAN 高 位 时 已 经 出 了 不 少 货,  现 在 应 该 是 压 低 它 的 价 钱 来 给 自 己 慢 慢 再 囤 积 货 的 时 候 了.  这 一 招 一 箭 双 雕 的 妙 计,  只 有 狐 狸 才 能 想 得 出.

leeccg

在这里也跟老狐狸和所有在玩股票的朋友们，说声＂恭喜发财＂今年胜旧年，然后股市能步步高升咯。。。恭喜，恭喜。。。

psrngurney

bjgroup變成bjcorp時bjland的股東有用margin account的人很多是被逼賣出來補倉！

所以我猜bjland的股東真的很多人被逼賣出，所以他們賣出的貨自己收回來了，那就不必要做那些不該做的東西了！

老狐狸（狐狸算是狗類吧！今年是它的年來的！）好像要發威了！大馬第一首富！

leeccg

Bcorp慢慢上到了０。１４５，应该算是好事吧。

但是坏消息是还将有五千万股的Bcorp刚从B-LC换来的将会投进市场，到时候已经会对股价有一定的影响哦。。。