My worry is this family buying could be a prelude of taking OSKH private, strip off RHB and relist the property division.

This happened before PJD was taken private.

If one read through the AR, it is interesting to note the following figures:

OSKH: revenue -1,204 M, PAT - 352 M

Contributions from
OSKP: revenue - 192 M, PAT - 6 M
PJDH: revnue - 966 M, PAT - 178 M

OSKH now owns 99.93% of OSKP, and 96.96% of PJDH

The non-RHB revenue and profit was mainly contributed by PJDH.

AR stated " There were significant restrictions on the Group's ability to use or access assets and settle liabilities of subsidiary companies with material non-controlling interest."

It seems the merger of OSKP and PJDH has not been totally successful as intended.

New NTA should be calculated as (2.43+0.35)/2 = 1.39

Yes, good Q results. EPS - 5.46sens, NAPS - RM2.37.
Today closed at 56Sen. Right at 35sen.
Undervalued.

Very good quarterly profit of 35.46 sen.
Hope for special dividend again.

OSK fulfills
1) High NTA, resulting in low Price/Book Value (NTA) less than 0.5
2) Profitable consistently, resulting in PE less than 10
3) Diversified incomes, resulting in less volatility in combined business sectors
4) Consistent dividends, resulting in better return (in addition to price appreciation) than fixed deposits in bank
5) Future growth

Of course, confidence in top management & controlling shareholder is another top consideration. Trust deficit in top management often leads to "undervalued" share price.

Both Orient and OSK fulfill
1) High NTA, resulting in low Price/Book Value (NTA) less than 0.5
2) Profitable consistently, resulting in PE less than 10
3) Diversified incomes, resulting in less volatility in combined business sectors
4) Consistent dividends, resulting in better return (in addition to price appreciation) than fix deposits in bank
5) Future growth

Of course, confidence in top management & controlling shareholder is another top consideration. Trust deficit in top management often leads to "undervalued" share price

Hotel business in Malaysia is generally not profitable.
I am pleasantly surprised that OHB's hotel division contributes decent profit.

Pleased that OSK has moved from a recent low of 0.92 to 1.01. But RHB moved even faster to 5.73 today.

A quick calculation showed that each OSK share is backed up with RM1.12 worth in RHB alone, and RHB is expected to be very profitable.

Apart from NTA consideration, OSK is profitable and expected to be even better, with diversified incomes. PE is well below 10.

Anyone can comment on the financial impact of the land reclamation in Melaka?
Will it contribute significantly?

Good share price recovery despite general market down.

OSK owns 10.13% of RHB Bank, and today this holding alone is 10% higher than the total market capitalization of OSK!

This means buying OSK you get RHB shares 10% cheaper plus all FREE OSK other businesses!

OSK's 10.13% holding in RHB Bank is already 10% higher than the total capitalization of OSK!

Pleased that 20 sens special dividend was declared in addition to 8 sens usual dividend.
Solid counter for long-term investors.

Just 6 sen again.

Bought some at 1.02 today, and look forward to collecting 3.5 sen dividend soon.
OSK holding of RHB is today worth 3% more than the capitalization of the OSK group. Very attractive long-term investment if no dirty game.

Those interested in RHB may want to consider a lower entry from OSK Holding.
The 10.13% OSK share in RHB is today worth 3% more than the total market capitalization of OSK!

OSK's holding in RHB bank is now worth 2249 million, whereas OSK total market value is just 2,210 million.

Menara Landmark should benefit from the MRT line between Spore and JB

Earning for this financial year should be very good, with PE likely to be just below 10.
Hopefully, better dividend above 6 sen will be declared the next quarter.

RHB is expected to be on uptrend in line with general banking stocks.

Other OSK businesses are active - Properties include: Melbourne square, newly launched Ryan & Miho, Seremban properties, proposed sale of Faber Towers, plus existing projects, etc

Manufacturing: cables and building materials continues to be profitable.

I can't understand how long the 1.06 ceiling can be suppressed (1.07 was abandoned when realized that it was a bad number).

With RHB bank today ended at 5.50, OSK's holding in RHB is worth 2,232 million, marginally exceeding the market cap of OSK.

OSK shareholders own all other businesses under OSK for free - properties, hotels, manufacturing, construction, financial services, etc.

RHB Bank has been going up recently and is now 5.40. OSK's 10.13% holding of RHB is today the same as OSK market cap.

Of course OLH recognizes the deep value in OSK shares.
10.13% of RHB Bank is worth 2,086 million today compared with OSK market value of 2,231 million. This means that the market value OSK's non-RHB asset at merely 145 Million which may be pretty close to the sale proceeds of Faber Towers!

There is a trust deficit.

10.13% of RHB Bank today is still worth RM 2025 million.
OSK market cap today is RM 2217 million.

All OSK minus RHB is now valued by the market at just RM 191 Million, yet to be discounted again by EPF contribution.

OSK is certainly very undervalued.
But, trust deficit.

kancs3118, please share the news. Thanks.

JJChan, if you are a mature person, please don't talk nonsense and tried to misrepresent others. The remaining 3.27% share holders and 8.58% warrant holders of PJD (the minorities) are not, as you put it, "always asking his money back from PJD".

On the other hand, they are long-term investor. They had the chance to sell to OSK or in the open market, but they opted not to. Now, OSK may pay them fair and reasonable sum to buy them out, if OSK so wishes. The Melbourne Square project belongs to PJD, which although delisted, is still in business. Please wait till the end to draw your conclusion. Thanks.

Reading the news on L&G, I am worry of the way LTH voted opposite to the minorities. It could happen in Puncak case, without taking the long-term interest of its members.

Apart from Union Suites@Sunway just launched, I am hopeful that the follow-up project to the sold-out TWY@Mont Kiara will be equally successful.

Mont Kiara 2, Kuala Lumpur is the 2nd phase of TWY@Mont Kiara which sits on a 2.2 acre piece of land located across Jalan Segambut from TWY@Mont Kiara. The concept will be different from TWY@Mont Kiara but will continue to include innovative features that would differentiate the product in a very mature location. The estimated GDV is about RM400 million.

Melbourne’s largest skyscraper project, the sixskyscraper Melbourne Square, is moving ahead. Check out

http://www.oskproperty.com.my/melbournes-vital-mixed-use-development-gains-endorsement/

Thanks, chabalang.

I am still not too clear how (b) is being applied. It seems that when one holds just below 50%, he can slowly increase his holding to any limit (over a period of 6 months) and not triggering a mandatory offer.

Example, (b) seems to imply that if one has 49.99%, and then proceed to acquire more than 2% in any period of 6 months, then there is a mandatory offer.

On the other hand, if one has 49.99%, and then proceed to acquire more than 2% SLOWLY IN A PERIOD OVER 6 MONTHS, then there is NO REQUIREMENT FOR a mandatory offer. ???

Yesterday I studied again the recent annual reports and quarterly reports of SymLife and visited the company website.

I looked at EPS, NAPS, unbilled sales, potential of upcoming projects, balance sheets, land, etc. I am convinced of the deep values of SymLife despite the recent price up. I bought some this morning although the price is high compared with 0.635 I managed to buy some not that long ago.

EPS, NAPS and potential of SymLife are certainly better than Malton, but yet at so much lower price.

I looked at the March 8 announcement of changes in director's interest of Tay Thiam Song.

He has 1.489% direct holding and 49.887% indirect holding.
His combined holding exceeds 50%.
Shouldn't the 50% plus 1 rule triggers the mandatory offer?

Anyone can advise? Thanks.

Great rMoi.
We can play our role in 推波助浪 - in the positive sense of creating a powerful & impactful wave.
Important that 1st wave and 2nd wave must build on each other.

With such great potentials,yet the market cap now is only 238 millions.

Sincerely, I look forward to rMoi's 2nd wave.

It moved 0.075 this week. So if the uptrend is intact, it should be 0.92 end of next week. Need to be validated by nemesis who seems to have a good grasp of symlife.

Great, slow and steady performance.
nemesis displayed remarkable confidence.

Kahhoeng, thank you for the update. Your work is appreciated.

A key point is to seek SC's & MSWG's help to put across to directors of Puncak our concerns of continuing and questionable losses.

Since the directors are not capable of managing the current continuing businesses, we have totatally no confidence in the directors of buying new businesses and turning them to profitable ventures. Therefore, ... it is best that the cash be distributed ..

Arising from acquisitions after delisting of PJDH, OSK effective interest in shares and warrants of PJDH increased from 96.42% to 96.73% and from 90.60% to 91.42% respectively as at 21 February 2017. (The statistics are obtained from the latest Q OSK report).

PJDH is therefore still not 100% owned by OSK despite being delisted.

Why OSK announced 5 sen dividend before the Q results?

This might link to the offer to take over PJDH.

OSK take-over offer for PJDH closed at 5.00 p.m. (Malaysian time) on Monday, 21 November 2016. However if one wished to exercise his rights in accordance with subsection 223(1) of the CMSA after the Closing Date, one could serve the Offeror a notice to acquire his PJ Development Shares and/ or Warrants, whereby such acquisition is to be done on the same terms as the Offer (including at the same offer price of RM1.50 for each PJ Development Share and RM0.50 for each Warrant) as set out in the Offer Document. To give the Offeror notice, one had to complete, sign and return to the Offeror the form of notice which must reach the Offeror not later than 5.00 p.m. (Malaysian time) on Wednesday, 22 February 2017, which was not less than three (3) months from the First Closing Date or the Closing Date, if the Offer had been extended, as the case might be.

I guess this unusual dividend announcement 1 day before the PJDH deadline could be a last minute inducement for diehard PJDH to swap over to OSK.

rMoi, Please initiate the 2nd wave. I shall support your initiative and I believe many others will.

Since Kahhoeng is committed to engage actively with SC, you may consider pushing through the 2nd wave with assistance from MSWG perhaps.

I agree with you the basic fiduciary duty expected of a director, and would suggest that a meeting with the directors of Puncak be convened via MSWG to put our minorities viewpoints directly to the directors. They need to be reminded of their fiduciary duty, report and put right any wrong doings.

In view of the continuing losses, I am concerned of possible leakages and wrong doings going on. We have to put across bluntly to the directors to put things right or we would even consider lodging police report among other actions.

If there is a need to engage a lawyer or to cover expenses to communicate with other minorities, I reiterate my commitment to contribute a share upto RM5k.

Kahhoeng did a great job and certainly deserves our applaudes.

Please ignore the naysayers some of whom may hope to benefit from a collapsed Puncak.

With the momentum (the large volume today), it should move pass 0.80.

The latest quarter results shows that deposits, cash and bank balances amount to 155,434,000 which divided by the number of shares of 83,882,800 yields cash per share of RM1.85 against NTA of RM2.47.
Any offer is unfair and unreasonable if it is below the cash value.

This counter is moving. The bulk traded at 1.20

A good day. nemesis is right. The run-up is impressive. Momentum just started.

Please go ahead Kahhoeng and team. I won't be able to join. Thanks.

Share price is still just 1/3 of NTA, not even taking fair valuation of Sungai Long project.

A sizable group of minorities pressing ahead is very different from voicing individual opinion at AGM or just in the forum.