BJCORP-CB
Last Wednesday, BJCORP announced that it was purchasing 70% shareholding in Ascot Sports which was until then 70% owned by its
major shareholder, Tan Sri Dato’ Seri Vincent Tan. The acquisition PE was cheap at only 6x. Therefore, the deal is EPS accretive to BJCORP. Another major re-rating catalyst going forward is the possible award of the first NFO license in Vietnam. Of the two call warrants on BJCORP, BJCORP-CB has the lowest premium at 23%
and highest gearing at 4x.
by ECM Libra
Berjaya Corporation is engaged in the following core activities 1. Financial Services 2. Consumer Marketing, Direct Selling & Retailing 3. Vacation Time-Share, Travel, Hotels & Resorts Development & Management 4. Recreation Development and Management 5. Property Investment & Development 6. Gaming & Lottery Management 7. Food & Beverages 8. Industrial 9. Education 10. Investment Holding & Others
