Berjaya Land Berhad

$YTL / 4677 (YTL CORPORATION BERHAD) $BJLAND / 4219 (BERJAYA LAND BERHAD)

Race for Penang Turf Club

The decision to sell the 160-year-old Penang Turf Club (PTC) — the largest undeveloped tract of land in George Town — has generated substantial interest from both local and international companies, including notable property developers.

The PTC land, along with seven other plots, covers a total of 203.4 acres with recreational or residential titles and could be valued at approximately RM2.6 billion.

Sources indicate that Tan Sri Desmond Lim Siew Choon, renowned for Pavilion Kuala Lumpur, is considering the PTC land for a potential Pavilion Penang shopping center. Additionally, $SUNWAY / 5211 (SUNWAY BERHAD) is reportedly interested, with its subsidiary Sunway Healthcare shortlisted to purchase the 600-bed Island Hospital in Penang.

The PTC land in Batu Gantong, which is three times the size of Tun Razak Exchange in Kuala Lumpur, includes the flat PTC land (118.14 acres), a hillside parcel (73.32 acres), and six other components totaling 11.04 acres. These components consist of vacant plots, Brook Garden bungalows, Penang Retirement Resort, double-storey detached houses, and a bungalow on Penang Hill.

Furthermore, $BJLAND / 4219 (BERJAYA LAND BERHAD) recently announced the pre-launch of its latest premium residential development, Jesselton Courtyard at Jesselton Selatan, with an estimated gross development value of RM862.7 million. The 11.908-acre freehold development will feature 239 houses, including 32 four-storey Courtyard Homes and 207 1.5- and two-storey Courtyard Villas, strategically situated next to the esteemed Penang Turf Club and Kensington Gardens.

Could this be the value unlock of PTC land? In a previous post, I predicted the parties that might be interested in bidding for it, successfully identifying GOB (likely backed by Tan Sri Desmond Lim) and SUNWAY. Will BJLAND also be one of the interested parties, given its recent pre-launch of a new project adjacent to PTC?

$BJLAND / 4219 (BERJAYA LAND BERHAD) is going to unveils premium landed development in Pulau Tikus, Penang and it is just situated next to Penang Turf Club and Kensington Gardens, which is worth keep a look at it on whether BJLAND will be bidding for PTC land or not cause the edge article already revealed that Pavilion's Tan Sri Desmond Lim and $SUNWAY / 5211 (SUNWAY BERHAD) are interested.

Penang Turf Club Dissolved, Major Development Project Imminent?

The Penang Turf Club (PTC) has decided to sell its historic land in Batu Gantong following an Extraordinary General Meeting (EGM) held on June 10. The motion to dissolve the club received overwhelming support, with 146 members voting in favor and only three against. If successful in finding buyers, each shareholder could potentially receive at least RM1 million. With the current market value of commercial land in George Town at approximately RM700 per square foot, the site is estimated to be worth around RM6 billion once converted to commercial status. However, converting the land from its current recreational use to a mixed-development property is projected to cost about RM1 billion.

Established in 1864, the PTC is the oldest horse-racing club in Malaysia and currently has a membership of 600. The club’s history began with a land grant on Macalister Road, where its first wooden and attap buildings were constructed in 1869. In 1939, the PTC moved to its present prime location next to Taman Jesselton Heights.

The club had proposed a project named Penang Global City Centre in 2007 on the current PTC land, which included two iconic sixty-story towers housing luxury residential units and five-star hotels, the Penang Performing Arts Center (PenPAC), a high-end retail and entertainment complex, an observatory, a world-class convention center, and a vast public arena. However, the project was paused after Barisan Nasional lost its regime in Penang.

Currently, PTC lands are up for sale. The available properties include a racecourse, a golf course, a Penang retirement resort, some hill land, 26 vacant bungalow lots, 22 bungalows, a Penang Hill bungalow, and a piece of land at Jesselton Road. They have even invited potential buyers from Singapore, Mainland China, Hong Kong, and Indonesia to bid. According to media reports, three Malaysian listed companies are currently interested in bidding for the PTC land, which covers 47.7 hectares (118 acres) and is valued at about RM3 billion.

The listed companies that might be interested include:

1. $GOB / 1147 (GLOBAL ORIENTAL BERHAD): Launched the Penang Global City Centre project in 2007. After the Barisan Nasional regime lost power and the project was called off, GOB sold its 25% stake in Abad Naluri (the company engaged in the Penang Global City Centre) to Kiara Ikhtisas.
2. $BJLAND / 4219 (BERJAYA LAND BERHAD): In 2014, Berjaya Land bought 57 acres of prime freehold land from the Penang Turf Club for RM459 million for residential property projects with a gross development value (GDV) of about RM1.52 billion. This land is near the club. Additionally, Tan Sri Vincent Tan was involved in bidding for development rights for the PTC but lost to GOB.
3. $SUNWAY / 5211 (SUNWAY BERHAD): Sunway may be interested in this land as it has a strong track record in mixed development.

$BJLAND / 4219 (BERJAYA LAND BERHAD)

KUALA LUMPUR: Berjaya Land Bhd’s net profit rose surged sixfold to RM29.33 million in the third quarter ended March 31, 2024 (Q3FY24) versus RM4.05 million a year ago supported by income from hotels and resorts business segment. 

© New Straits Times Press (M) Bhd

KUALA LUMPUR: Berjaya Land Bhd (BLand) is cautiously optimistic about the group's business operations performing satisfactorily for the rest of the financial year ending June 30, 2024.

OTHERSPress Release on third quarter results ended 31 March 2024

Quarterly rpt on consolidated results for the financial period ended 31/03/2024

DEALINGS IN LISTED SECURITIES (CHAPTER 14 OF LISTING REQUIREMENTS) : Intention to Deal During Closed Period

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - BIZURAI BIJAK (M) SDN BHD

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - JUARA SEJATI SDN BHD

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - BERJAYA GROUP BERHAD

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - BERJAYA CORPORATION BERHAD

Notice of Person Ceasing (Section 139 of CA 2016) - BERJAYA CAPITAL BERHAD

Berjaya Land Bhd’s aviation arm Berjaya Air Sdn Bhd hopes to boost the tourism industry in Redang Island, Terengganu with more international tourists, especially from Singapore, following its newly launched charter services. 

REDANG ISLAND, Terengganu: Berjaya Air Sdn Bhd, the aviation company under Berjaya Land Bhd, is actively pursuing network expansion opportunities, driven by the imminent arrival of two new ATR 72-600 aircraft slated for delivery in 2025 and 2026.

© New Straits Times Press (M) Bhd

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - BERJAYA CORPORATION BERHAD

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - BERJAYA GROUP BERHAD

Changes in Sub. S-hldr's Int (Section 138 of CA 2016) - JUARA SEJATI SDN BHD

As global tourism stages a rebound post-pandemic, Berjaya Land Bhd (BLand) stands at the forefront, strategically focusing on luxury brands to maximise yields while eyeing expansion.

WINDING UP / RECEIVER & MANAGER / RESTRAINING ORDER / SPECIAL ADMINISTRATORMEMBERS' VOLUNTARY LIQUIDATION OF FLEXIWANG SDN BHD

OKINAWA: Berjaya Land Bhd (BLand) anticipates a potential profit after tax of between US$400mil and US$450mil for its upcoming project, the Four Seasons Resort & Private Residences Okinawa (Four Seasons Okinawa), scheduled for completion in 2027.

OKINAWA: Berjaya Land Bhd (BLand) anticipates a potential profit after tax of between US$400mil and US$450mil for its upcoming project, the Four Seasons Resort & Private Residences Okinawa (Four Seasons Okinawa), scheduled for completion in 2027.

OKINAWA: Berjaya Land Bhd (BLand) today broke ground on its ultra luxury resort-concept Four Seasons Okinawa, after a six year delay due to the Covid-19 pandemic.

© New Straits Times Press (M) Bhd

PETALING JAYA: Berjaya Land Bhd (BLand) expects the country’s economy to be driven by strong domestic demand and the moderation of average inflation rate, despite the uncertainties arising from geo-political tensions.

KUALA LUMPUR: Berjaya Land Bhd (BLand) expects the country’s economy to be driven by strong domestic demand and the moderation of average inflation rate, despite the uncertainties arising from geo-political tensions.

Quarterly rpt on consolidated results for the financial period ended 31/12/2023

OTHERSPress Release on second quarter results ended 31 December 2023

Titan Trading Notes For Friday [9/2/2024]:

Although $KLSE-KLCI closed red around the 1512 points region, the overall market sentiment today could be regarded as a pretty positive one as most stocks started to rebound. Daily trading volume remained low as it only settled around the 3.2 billion mark.

Main stocks that showed strong buying momentum would be the likes of BJLAND, EKOVEST, HEGRUOP, IJM, LEFORM, MRCB, MTEC, RENEUCO, SCIB, SUNWAY, UEMS, VELESTO, WENTEL, and WIDAD. All of which were able to sustain their rallies throughout the day on the top volumes list.

$BJLAND / 4219 (BERJAYA LAND BERHAD) after retracing from its RM 0.48 regions, had been holding quite well above its RM 0.37+ main support levels over the past week here.

Seems to have formed its higher low regions already and if able to breakout from the RM 0.40+ major resistance, could start trending up back towards the RM 0.43 - RM 0.45+ regions soon for an uptrend continuation pattern.

Will be monitoring BJLAND closely here.

$ENGTEX / 5056 (ENGTEX GROUP BERHAD) despite retracing back towards the RM 0.97 immediate support levels, was able to breakout strong towards the RM 1.04 regions today with good volume and buying momentum here.

So far, still looking very strong here and as long as able to hold above its RM 1+ immediate support levels, could breakout towards the RM 1.10+ regions soon for a stronger uptrend continuation pattern.

Will be monitoring ENGTEX closely here.

EPICON since retesting its RM 0.35+ major support levels over the past week, had been able to hold quite well and today, was able to rebound strong towards the RM 0.385+ regions with good volume and buying momentum here.

For now still mainly resisted around the RM 0.39 - RM 0.40 downtrend levels here but as long as able to hold above its RM 0.38+ immediate support, could breakout from this downtrend for an uptrend continuation back towards the RM 0.45 - RM 0.48+ regions in the coming weeks.