BJ Assets-To be Taken Private or conversion to a REIT or....

Going REIT?

BJ Assets just reported to Bursa KL that they have not met the public spread requirements.

They will, however, seek the the exemption from of Bursa for this requirement.

Now, just like BJFoods, most of Berjaya counters do not have as wide a spread for more animated trading.

So, what can we expect from this?

Landmark for Privatisation or REIT?

Vincent Tan has just bought another big chunk of BJ Assets. That means more shares are taken out from retail trading.

So, what are the possible scenarios to expect for BJ Assets?


First scenario-take BJ Assets private-possible but unlikely.


Second scenario- create a BJ Assets REIT leaving BJ Assets as a pure gaming play-Very likely.


The highest price achieved was RM1.04 on 12 July with high volume with the lowest at 78 sen traded in May-June period.


A fair price for entry would be in the lows of 80 sen.


So, let us watch this counter. It is now trading at 92 sen.

Traffic Stopper in China

A Naked salute!

This man sure knows how to stop traffic. It happened in China.

This is Malaysian English

What an English! Gomen Style

Wahloi, so daring one............

Bodoh sombong one...lah..........

COM: 35 Questions in One Hour

Halls of Power

I have just got back from splendorous Putrajaya after walking in the Halls of Justice.

At 2.30 pm, the examination started and this time they were very much more professional. The briefing did not eat into exam time, not like last year with that jabbering officer.

Interestingly, it was all MCQ and to my judgment it was a breeze though they threw in some barbed non-law questions.

I finished it in record time of 30 minutes and left the hall in triumph with God's blessings surrounding me. I was in cheerful spirit.

Fair Lady of Justice

Believe me, it was great to have all those calun  sitting for the exam watching you leave the hall. Two more candidates left after me. Magnificent trio!

Not like last year when they killed us carnage-wise with a 90% subjective question format.

So, what is the exam all about this year?

Let me recap......

Three questions was on the Chief Justice, two questions of fees, a question to test your understanding of the doctrine of the separation of power, some questions of qualification, appointment and reappointment, change of business address, power to inspect, details in a register, some test of the Statutory Declaration Act, 1960,  duties of a Commissioner, the Malaysian Constitution,display of appointment letters,appropriate text of powers, conduct and duties, power of revocation,some mathematical computation of fees to be paid  for affidavits and exhibits and penalties.

Fate Awaits 

What could be troubling are those answers with options like:

a) I, II and III
b) All the Above
c) Only I and II
d) Only II

So, if you are not good in your memory work, it could be daunting.

I was however amused by questions on the diameter of the seal and the dimension of the name tag. Not many would know these dimensions because these are truly not legal matter question but meant to outsmart you with retort like, " Got ya!".

They need to test more on substantive legal matters and not design specifications.

I spoke to an elderly candidate (Not that I am any younger) and he told me he took a similar examination in January this year and thought he got at least 90% of the answers correct. Yet he got a dukacita letter that he flunked!

Well, I do not know whether I aced it this time though I want to believe so.

Anyway, let me think about setting up shop if I do passed with God's grace.

Boy Oh Boy- Banyak Nakal-lah.....budak-budak ini

Boys will be boys or  so it seems. Derring-dos in all circumstances of peril.

These pictures shows what they are capable of doing if you let them.......

Crocodile and Dundee

Johnny Appleseed Eats a Giant Melon

Pablo Picasso

The Discovery Channel

Dare Devil

David Copperfield?

Dolly Parton?

Raiders of the Beef Roast

Where is Kermit ?

Transgender?

EPF-Market Maker or Destroyer?

Gambling with public cash?

In a small market like Bursar KL, pension funds rule supreme if foreign funds shun it; like presently.

For whatever reasons it may have; through its approved traders,EPF buys heavily moving prices like mountains or sell down a counter like that Japanese tsumani leveling prices like crazy!

As it brings joy, it brings tears-that double-edged sword.

If you have acute perceptive skills,look no further than the current IPOs from Gas Malaysia, FGV and the current IHH.

Like it or not ,even if they are not cornerstone anchor buyers, they massively move into counters and play the institutional fool with the people's hard earn cash.

Last week, they sold down super-blues from BAT, PBB, TM,TNB and what not; possibly because they could not digest the FGV load.

Now, they have off-loaded the FGV to risk takers, they have come back to reclaim their holdings in the super-blues such as BAT, TM, Axiata and TNB.

An interesting thing I saw was they had begun to load up on YTL Corp, PBB, TM,TNB and Digi-com.

They must have little birds telling them the time to go into these two counters because of corporate developments or they have been pushing up the prices to reclaim shares that are dividend paying and  as for the people's money-they luck in or luck out at your own risk!

Poor contributors!

BJF-Catastrophe OR Sales or what?

Wahloi! Designer Coffee...

Yes, the board is crimson red for both BJFoods (BJF) and its Offer for Sale(OR).

From the get go, when it started off at a good 69.5 sen, it has gone down the sewage of prices touching a nadir of  56.5 en for a dunking 8.5 sen loss. Right now, it is hovering at the inconsolable bid price of 57.5 sen and 58.5 sen.

The number of  done deals is 5,076 and from the array of buyers and sellers in lot terms,there is a big seller at 59.5 sen (200 lots) and 88 lots at 0.60 sen.

Until it stops trading on 23 July, it can go both ways depending on the price of BJF.

By 24th July, get your money to buy the rights at 65 sen with the accompanying warrants.

If I am to postulate, at the ex-price for the OR at 66.5 and adding RM1 as the overnight closing price of BJF, the rights and mother shares should even out to RM1.65 for a  16 sen gain after deducting for trading overheads.

I would like to guess that the warrants should do well at 70 sen convertible price on a longer term with the inclusion of Starbucks into BJF's account. At the current price of BJF, you should stand to gain about 15 sen per warrant on conversion.

It is still 'early days' as weak holders of the OR who do not want to cough out cash for the BJF rights have sold or are lining up for the sale of the OR.

Remember day traders can manipulate if there is one sen net either way.