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4477 comment(s). Last comment by RVI123 at Sep 25, 2016 12:48 AM
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5percent
199 posts

Posted by 5percent > Aug 19, 2016 09:48 AM | Report Abuse

good dividend counter, can buy and keep..^^at 1.58, the yield is high


greatful
746 posts

Posted by greatful > Aug 24, 2016 07:22 PM | Report Abuse

buy others better?


mamalove
8 posts

Posted by mamalove > Aug 26, 2016 03:50 PM | Report Abuse

property and banking....ahh....my fav business....!!


860000
160 posts

Posted by 860000 > Aug 26, 2016 04:56 PM | Report Abuse

i have checked in bursa... how did u know 72m? Nothing reported in bursa


860000
160 posts

Posted by 860000 > Aug 29, 2016 11:05 AM | Report Abuse

Where was the 72m profit? Nothing reported yet


enid888
100 posts

Posted by enid888 > Aug 30, 2016 08:14 PM | Report Abuse

OSK Holdings Berhad offers to take over PJ Dev at RM1.50 per share n RM0.50 per warrant.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5194177


boon1515
39 posts

Posted by boon1515 > Aug 30, 2016 08:23 PM | Report Abuse

finally it fully overtake PJD, should be good news since PJD generate quite profit.


mamalove
8 posts

Posted by mamalove > Aug 30, 2016 09:18 PM | Report Abuse

the one is call Mahsing this one is Niahsing..


greatful
746 posts

Posted by greatful > Aug 30, 2016 09:19 PM | Report Abuse

sell and buy other better


860000
160 posts

Posted by 860000 > Aug 31, 2016 07:11 AM | Report Abuse

JJchan please stop being a clown. Your statements are all bullshit


JJchan
2483 posts

Posted by JJchan > Aug 31, 2016 10:46 AM | Report Abuse

Haha--another OTB kaki....still hoping 3.20 for PJD-----1.50 take it or leave it


enid888
100 posts

Posted by enid888 > Aug 31, 2016 11:59 AM | Report Abuse

Based on the list of the PJDev Group's Top Ten Properties, almost all the properties in the book are not revalued and undervalued.

For example, the land in You City, the 10.71ac land is the most valuable in that area. The proposed future development will be directly facing the highway and directly connected to MRT1 which will be operational in 2017. On 5/7/2016, Guocoland bought from market the land which is exactly behind this piece of land at RM248/ sq ft. I think the You City land should reasonably worth RM350/sq. ft. as compared to RM60/sq ft in the book. The Revised Net Book Value should be RM163.3mil as compared to RM28.2mil in the book. There is a undervaluation of RM135.1mil just for this piece of land.

The link for recent transaction of the land behind PJ Development by Guocoland.

http://www.bursamalaysia.com/market/listed-companies/company-announcements/5143301


taktaumacammana
80 posts

Posted by taktaumacammana > Sep 2, 2016 12:10 PM | Report Abuse

Then this OSK is really undervalued, by completing the takeover of PJD. The operations would be streamlined for better efficiency. The boss is not interested to goreng his shares, but putting more efforts to manage the business.


FAIRnREASONABLE
103 posts

Posted by FAIRnREASONABLE > Sep 3, 2016 06:06 PM | Report Abuse

I hold both PJD and OSK shares.

Looking at the way PJD minority shareholders have been robbed, the same will be repeated with OSK.

PJD has many more valued assets apart from properties and lands, including the crown jewel of Melbourne project - the cable factories which now contribute the most, manufacturing of building materials, construction, and of course the hotels & hospitality business.

OSK is definitely undervalued. We want to buy more under-valued OSK. But the question is whether there is a win-win long-term sharing or that OSK will be taken private, just like PJD, when value emerges.

My take is that the PJD scenario will replay in OSK.
03/09/2016 18:05


JJchan
2483 posts

Posted by JJchan > Sep 6, 2016 08:58 AM | Report Abuse

OskH is going to be a property company---unless OLH wants a family Co and takes Oskh
private-----private Co cannot borrow as much as a Limited Co....that is the reason why OLH
repeated many times in AGM about OskH being a 1st Tier Co.


taktaumacammana
80 posts

Posted by taktaumacammana > Sep 8, 2016 05:03 PM | Report Abuse

I recalled that he said the 1st tier company that worth Rm3bil...


boon1515
39 posts

Posted by boon1515 > Sep 20, 2016 04:16 PM | Report Abuse

latest by 11 of Oct to take over PJD


RVI123
119 posts

Posted by RVI123 > Sep 21, 2016 10:10 AM | Report Abuse

If by the end of the offer exercise, OSK manages to get only 95%, what are the drawbacks that they may face as compared to 100% ownership?


FAIRnREASONABLE
103 posts

Posted by FAIRnREASONABLE > Sep 21, 2016 08:09 PM | Report Abuse

This exercise reflects OSK's desire to take PJD private and to merge (completely) PJD's compatible business units with other similar OSK's unit, properties being the major sector of course. Some PJD's non-core business units may be sold off, I guess.

However, to have totally free hands to restructure and merge PJD business units within OSK, OSK needs a 100% ownership of PJD. If even 2% minority in PJd, their interest in unlisted PJD must still be accounted for.

To exercise compulsory acquisition, OSK must first be able to acquire 90% of the OUTSTANDING shares not own by them at the time of launching the take-over, i.e. 90% of 10% (the remaining). Judging from the low daily transaction, OSK is not likely to achieve the goal of exercising compulsory acquisition.

PJd will be delisted as announced. But it is likely for OSK to revise the unfair and unreasonable offer to buy out those who hold up. For a small sum, it is best for OSK to buy out the rest.


enid888
100 posts

Posted by enid888 > Sep 22, 2016 12:45 PM | Report Abuse

Nobody can simply transfer assets to OSK eventhough the company is unlisted. The sales of assets to a related company have to be substantiated by valuation reports and considerations (selling price) has to be paid to the seller apart from approval by the board of directors.

OLH is an experienced and tough deal maker. However, he only do things allowed within the framework of the laws.


JJchan
2483 posts

Posted by JJchan > Sep 22, 2016 09:27 PM | Report Abuse

....OskH owns 90% of PJD now.......so PJD directors are indeed replaced with Oskh directors...
you still don't see the big picture---enid888


enid888
100 posts

Posted by enid888 > Sep 22, 2016 09:51 PM | Report Abuse

@JJ Chan.
In fact, both companies already have comment directors even before the general offer. Even though the directors are the same, the two companies are separate entities and the assets and liabilities still treated separately. That is true even after the delisting.


JJchan
2483 posts

Posted by JJchan > Sep 22, 2016 10:20 PM | Report Abuse

When Olh own 35% of Pjd, he cannot move pjd asset at will.....But Oshk own 90++% of PJD
which means PJD assets belong to OskH......for accounting purpose it is better to have a
clean deal so OLH will buy out minority shareholders (maybe 2 extension at same price but
if you get politician involved maybe minority shareholders will get a better deal )
then delist.....Delisting solved All OLH problem with minority shareholders holding out for better
pay.....After delisting PJD will be made a shell company with all assets move to OskH....
I have seen this many, many times in 80's and 90's so don't ask me whether it can be
done or not......minority shareholders is always the loser.


FAIRnREASONABLE
103 posts

Posted by FAIRnREASONABLE > Sep 24, 2016 11:50 AM | Report Abuse

Delisting only means no buying and selling in open stock market.

PJD assets cannot be just moved to OSKH leaving "Kosong" for minority. No way, not even in a private limited company where minority share holders have their right according to Company Act. Delisting only implies not subject to SC and Bursa's rules and regulation.

For those in business using Sdn Bhd, they know very well that the dominant shareholder cannot just take assets of the company as his own. Fundamental law and provisions of the Company Act must be comply with.

Litigation by minority shareholders will cause OSKH dearly in underperforming.

It is best for a few millions to buyout the hardcore.


FAIRnREASONABLE
103 posts

Posted by FAIRnREASONABLE > Sep 24, 2016 12:33 PM | Report Abuse

Laws of Malaysia –Act 777 – Companies Act 2016. (A 577-pg document available in the internet)

Section 223 of Company Act deals with “Approval of company required for disposal by directors of company’s undertaking or property” – by way of RESOLUTION (at AGM).

(1) Notwithstanding anything in the constitution, the directors shall not enter or carry into effect any arrangement or transaction for –
(a) the acquisition of an undertaking or property of a substantial value; or
(b) the disposal of a substantial portion of the company’s undertaking or property unless –
(i) the entering into the arrangement or transaction is made subject to the approval of the company by way of resolution: or
………………..

Directors of company have duties and responsibilities, failing which they may be fined or even jailed.


JJchan
2483 posts

Posted by JJchan > Sep 24, 2016 01:20 PM | Report Abuse

You have such a high regards for OLH Or the Biz Law Or 1MDB.......I STOP here


RVI123
119 posts

Posted by RVI123 > Sep 25, 2016 12:48 AM | Report Abuse

@FAIRnREASONABLE, Thanks for the info.

I also think that a sensible director will not go against the law by transferring out assets. They will transfer with the proper procedures and to abide by the relevant laws n acts.

A wrong procedure or acts that are against the act may risk law suit from the shareholders n this will be very damaging.

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