Berjaya Sports Toto Shines Again

Yesterday was one lousy trading day on Bursa KL. One share that shone through was Berjaya Sports Toto(BST).

It announced that it was giving 30 sen dividend as well as a share distribution from its Treasury shares on the ratio of one share for every 14 shares held.

Taking off from the share value of your holding calculated at RM1,629.13 (Look at an earlier posting), this means a further reduction of RM300 for dividend, bringing the actual cost outlay to RM1,329.13.

Let us now factor in the price of the distribution in specie of one share for every 14 shares held.

Yesterday, the share value was RM5.25 per share. As you have 1000 shares, you will be allotted 71 shares. This will be valued at RM375. If you minus this amount as well, that would mean your actual investment on your 1000 shares is only RM954.

With this calculation, you are deemed to have bought the shares at almost par and it will be easier for you from now on to compare dividend returns versus interest payments from banks on a RM1000 basis.

BST is a great share.

It should be in everyone's portfolio holding.

Agree?

Fruit Death?

This must definitely go into the Malaysia Boleh official book.

Fancy the first reported fruit death in Malaysia.

It happened in in a Felda plantation at Padang Piul, Jerantut in Pahang at 1 pm local time today. Fallen durians in an orchard fueled a fight between two men and in the end, one of them got slashed and died.

The victim, Abdul Samad, 50, was believed to have been engaged in a quarrel with his neighbour over durians that had fallen behind their houses.

Both men claimed the fallen durians were theirs since there was no partition to separate their orchards, which were planted with durian trees.

What a way to go!

Owning Pets on Tagged

It can truly grow on you.

Perhaps you may meet people on this portal but what I like about this portal is the game of 'owning pets'.

Everyone that comes in on TAGGED can be owned as a pet.

You are given $2,000 play money every four hours if you clicked on to TAGGED. Once you are bought, you are owned and could be bought and sold for a higher price. The profit is then shared equally between the buyer and the pet.


If you are not a pet that is fancied, then your value would not go up exponentially and you have to develop cash organically by buying cheap pets and making incremental profits. Your propensity to buy other pets is also limited.

So far, I have managed to buy some cheap pets and while I was on the earlier stage of the learning curve, I did make some costly fumble.

By browsing contacts from other nations you make make friends besides buying good and cheap pets.Some of the photos are real pretty. I have posted some here.

Anyway, it keeps you busy while you do other things.

More Horror Stories at the AGMs

Yes, I was told about more horror stories at the AGMs.

This friend of mine told me about a couple of incidents at the AGMs he has attended since last year.

This is what happened at the POS Malaysia luncheon at the Legend Hotel.

When the buffet was open, this women went over to the fish curry pot, dipped her hand fully into the pot and retrieved many pieces of fish which she then put onto her plate. Apparently, the pot of food was cold for her to this.All this while, she avoided eye contact with everyone and ignored taunts from the other shareholders. She was shouted at and some even scolded her, telling her to desist from scooping the fish out of the pot as it was for every body and she was polluting the pot of gulai with her hand. But it was to no avail!

Then,there was this old man that came to sit near my friend at the far corner of the restaurant. He had a plate full of fried chicken. Without a care to what the world thinks, he took out pieces of tissue paper from his pocket and wrapped each chicken,one by one, before putting them all into his already bulging pockets. He must be the Malaysian version of the Transporter!

This friend of mine then related to me me about an incident that happened to him at that luncheon.

He has just left his table to have dessert, leaving his door gift-a first day cover on it. From the corner of his eye, he saw an elderly man from the next table quickly popped to his table, opened the envelope to see whether the stamps were there and then he spirited the door gift away to his table.

After taking his dessert, my friend went to that man's table and accosted him; asking him why he has taken his door gift. At first the man pretended not to know what my friend was talking about. After some time, listening to my friend's lecture that he should not take things that does not belong to him, shame got the better of him and he just walked off. His wife then explained that he took it to compare whether the stamps were the same. Lame excuse! She then diffused the situation by taking the door gift and putting it back on my friend's table.

My friend agreed that at all the AGMs, those that embarrassed us most were Chinese senior citizen ladies. and yes; elderly men are also into this! They not only grabbed at the food like jackals but even tapao it home for consumption while others are deprived of their 'just desserts'!

At the rate they are doing this, I think they will be seeing their cardiologists very,very soon!

The Macau Poser

Quelling issues that Genting may have problems acquiring shares in MGM's Macau operations,Lim Kok Thay, chairman and chief executive of both Resorts and Genting, told shareholders today at the Resorts World AGM that he did not see any obstacles in investing in the Chinese gambling enclave of Macau, if the opportunity should arise.

However, he told the meeting that no proposal has been made at this juncture, apart from some initial share uptake and subscription of debt notes in the US parent company. "The answer (on whether to invest in Macau) is a big maybe. It depends on what the situation is," Lim said.

The prices of both Genting and Resorts World went up in May on speculation that the group is finally setting foot in Macau. Prices were capped when a dampening Credit Suisse report forewarned of likely issues that they may have with the regulators in Singapore as Pansy Ho is involved in that project.

The Malaysian group recently subscribed for a combined $100 million worth of notes issued by MGM Mirage and purchased a 3.2 percent stake in MGM, a move MGM senior vice-president for public affairs Alan Feldman said made strategic sense.

Many analysts are of the view that Resorts is the likely vehicle within the group to undertake an overseas acquisition as it has over $1.3 billion in net cash and zero gearing.

Others say, Lim's private vehicle, Kien Huat may be the likely party to be involved in Macau as they have successfully cashed out of Genting Singapore recently. For a start, Resorts may just play a peripheral role in running the operations alongside MGM.

Whatever is the final outcome,in one way or another, Resorts World is certainly spreading its wings into Macau.

Kok Thay also said that the Board may consider paying additional dividends as suggested by minority shareholders at the meeting this morning, if the economy improves.