It is a intelltgent strategy from the CEO Jeffrey Chew.

The book values of the two properties are way below the current market price. They had not been revaluated. From the sales to the private REIT, there will be gains on disposal. That is reason it is a positive development to Paramount.

Sales of Sri KDU Kota Damansara and KDU UC in Glenmarie to Private REIT. Realisation of investment properties.

Khat, the boss is doing the right things for Trop. Reduce the debt level to net cash position now. The balance sheet has never been this strong before. Its developments are all in fantastic locations like Bukit Kemuning, Subang, Tropicana GCC, Kota Damansara and Kajang Heights. He is very capable and doing extremely well as a leader.
The only thing that he does not do well is pushing the price to the right level. The other thing that we can blame are on the minority and institutional investors. Small investors, EPF, Tabung Haji, PNB and fund managers do not invest in this company. As they are not buying, share price is stagnant.

A simple calculation, the GDV of the developments worth RM50bil and takes 15 years to develope. Lets assume 20% net profit. The net profit will be RM10bil. It will be RM7.00 per share. Include the NBV now, the share price will be more than RM9.00 in15 years time.

Icon8888, off course it is very safe at this rock bottom price. I invested in this counter for a few years aldy. What to do? The major shareholder is too rich and does not need to trade to make more fortune. He is testing the patience of the investors to the limit. I think most of the speculators have aldy sold off their positions. The remaining ones are all real value investors. There will be one day, the counter will rise to its real value not because of speculation but merely adjustment to its true and fair value.

STP2 is a gold mine for E&O to mine the gold for many years to come. However, they need to get a strategic partner possibly a strong Chinese company to work together by selling certain portion of land to them. The proceeds can be used to partly fund the cost of reclamation. It also can speed up the future development of the vast reclaimed land and at the same time market the residential and commercial properties in China.

The current extremely low share price and depressed market is the best opportunity for Tony to take the company private.

The current extremely low share price and depressed market is the best opportunity for Tony to take the company private.

U hv to be very patient to invest in Tropicana. It tests ur patience to the limit.

What Tony intends to do? I think he is collecting.

Fundamentals about the company is good. Share price should be much higher based on the fundamentals. However, the major shareholder is low profile and do not worry abt his ranking in Malaysian Rich Men list. Therfore, the share price is undervalued.

Plantation stocks are moving upwards now. A quick check shows that most of the plantation stocks are trading at PE between 15 and 40 times the preceding year earnings.

SOP - 16.0 times, KLK - 16.1 times, IOICorp - 18.3 times, Utdplt - 18.5 times, Sime - 23.0 times , Jtiasa- 25.7 times, GenP - 39.0 times

MKH is the cheapest plantation stocks in the market - PE 5.95 times

Tony is very happy that the price stays at low level. He is slowly collecting now. He is using RM245k to buy something that worth RM520k.

The earnings in the company can either be distributed as dividends or kept in the company for further investment. If the management has good business growth plans, the further investment will generate more future growth and future profits.

Both of them are mainly in property development. MKH has another smaller but still significant plantation business. On the other hand, Scientex also has another significant manufacturing business although it is smaller than its property development in terms of profit.

Comparison between two companies which are quite identical.

Booth companies have twin principal activities.
MKH : Property Development + Plantation
Scientex : Property Development + Manufacturing

__________________MKH ___________ Scientex
EPS ____________48.49 sen _________50.06 sen
PE _____________ 5.93 times ________13.38 times
NBV ____________ RM3.05 __________RM 2.67
Current Price _____ RM 2.87 _________ RM6.70

From here, we can see that MKH has a very low market valuation as compared to Scientex. If MKH has the same valuation as Scientex, its share price should be trading at RM 6.49 per share. Therefore, MKH is very much undervalued.

The proposed sales of the plantation land in Sepang (measuring 679.2 hectares) to Putrajaya Properties Sdn. Bhd. has been completed. The sales of the land will bring in profit on disposal of RM116mil or 16.6 sen / share for the coming quarter ending 31/12/16. The current financial year ending 30/6/17 will be a bumper year with the profit from the land sales and further realised profit especially from Damansara City project.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/5285453

Previous announcement for the proposed sales of the Sepang land dated 19/10/15.
http://www.bursamalaysia.com/market/listed-companies/company-announcements/4895753

Good news. They are giving bonus shares. According to the announcement, the proceeds of the right issue is for them to build the new infrastructure for its projects. It is also going to build a new KTM station in Kajang 2 so that it will be integrating well with its commercial project there. All these are necessary and value added investments for a well connected township and increase footfalls to their future mall. The future earnings to Kajang 2 will be many times of the money that they invested in.
The directors are responsible people and creating values for the company.

True, upper middle and middle price range apartments (RM350,000 to RM500,000) could be good products at this time. It also bring in more residents to the development which will be customer base for the future commercial developments.

@FnR : I also read the news on Goodwood Park today. True, the major shareholder offers $42.81 as compared to the initial offer at $11.88. On top of that, the major shareholders together with the minorities were given dividends many times.

@FnR : I also read the news on Goodwood Park today. True, the major shareholder offers $42.81 as compared to the initial offer at $11.88. On top of that, the major shareholders together with the minorities were given dividends many times.

I assume that JJChan has already either accepted the offer or sold his shares in the open market. Nothing wrong, everyone has the right to do what he thinks fit.

VPie, there are using dirty tricks to influence and scare the shareholdings. They never tell you the truth that after delisting, you are still a shareholder of PJDev which is a major subsidiary of OSK Holding. PJDev will still be audited every year and the auditors will still ensure that OSKH including PJdev are reported according to Companies Act and relevant statutory acts of Bursa.

All the related party transactions and restructuring of PJDev will still have to comply to Companies Act and relevant statutory acts of Bursa.

The volume will remain low for the next 2 weeks.

The volume will remain low for the next 2 weeks.

The ones who worried about the delisting have already sold by today. Those remained are prepared to grow with the company.

The ones who worried about the delisting have already sold by today. Those remained are prepared to grow with the company.

Since the offer dateline has been extended for 2 weeks, I suggest that you hold before making any decision. Probably, the offer price may be increased.

Since the offer dateline has been extended for 2 weeks, I suggest that you hold before making any decision. Probably, the offer price may be increased.

FAIRnREASONABLE, you are right. Mother share n Warrants are considered separately. Both also need to achieve 90%.

There is so little information in the main stream news. A lot of shareholders are in the dark. The Edge, Focus and major newspapers never write and comment about the take over offer although a lot of readers have interest to know. Why? I don't know. May be some interested parties have influenced them not to write.

What Eddy Chen announced yesterday on the RM1bil launching is for next financial year. FY16 ends on 30/9/16. RM1bil launching for the first 6 to 9 months FY17. Whole year will be RM1.3bil to RM1.4bil. That is fantastic! Next year should still be another fruitful year. MKH products still can sell in this market because they are affordable and competitive.

The JV wih Sim See Hua Brothers Sdn. Bhd. in Kajang 2 should be launched soon. Just imagine, more than 400 acres in Kajang 2 (including their own land), serviced by KTM and MRT. That project will definitely sell well.

MKH has been inching higher to RM2.90 now. Anyone knows if there is any good news coming?

Share investing requires research doing,patience and self discipline. If you invest by following advice from someone, make sure that person has done research or the source is reliable.

@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.

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.

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.

All the assets of KSL are real properties. More than 2000 acres of development lands, 2 hypermarkets, 800 rooms KSL hotel and KSL City Mall (one of the most popular in JB). All are hard asset.

It is not a company that the assets are some intangible "brandname" goodwill, trademarks, machineries or factory production lines that may become worthless when something go wrong with the company.

Valueinvestor, the research houses sometimes issue calls that are absurd and totally unprofessional. They are giving a target of RM0.99 for a company with RNAV of RM7.07 (given by them in their research). Unbelievable! RNAV is the actual net worth of the company per share where the assets are calculated to reflect the actual current market values.

I try to let some users here who want to know the situation in a simplified way.

It is like you have a double story linked house that worths RM707k, and a agent come to you and tell you,

"Yes, your house actually worth RM707k, but the market is really bad now. I think you should sell it at RM99k."

I have experienced this as well. Many of my comments just can not go through for the last few days. blocked by i3. Why i3 does not allow comments to go through? What is the reason behind?

Kevin008, do u face the same problem? Comment can not go through.

I am still trying to get the terms and conditions of the offer. They have not given full terms and conditions yet.

Uncle KYY may not be correct. MKH is more on affordable housing. The current downturn affects high end housing more but less to the affordable housing developers because there are still genuine self occupying buyers who are looking for affordable housing.

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

Based on the list of the 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

This time is still the same. I will again reject the offer.

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

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

Tropicana will be in net cash position very soon after the two more asset sales which are a hotel in Jalan Pudu and an office building in Jalan Ampang. By that time, the interest expense will be close to zero.

Simple calculation,
Tropicana has future gross development value of RM50bil.

Let us ignore the further increase in gross development value due to future appreciation in property prices and just prudently underestimate by using that RM50bil GDV.

Assume 25% net profit as land are already bought with zero debt now and all the developments takes 10 years to complete.

Net profit for 10 years is RM12.5 bil.

In 10 years time, Tropicana share price should rise to RM8.75.

Based on

1) profit from assets sales
2) reduction in interest expense
3) progress billings on high unbilled sales

the results should be good if they don't push profits to next quarter.

The company still has more than 900million shares of loan stock (LA) not converted yet. Are you sure there will be more right issues?