Today selling seems easing (foreign funds finish selling?), start rebounding.

From 2013 Annual Report, pg 7:
"The dividend distribution is consistent with BToto’s dividend
policy of distributing at least 75% of its Group’s annual net
earnings to shareholders. BToto will continue to maintain its
75% dividend policy subject to factors such as availability of
distributable reserves as well as the Group’s cash flow
requirements."

The dividend policy is at least 75% of net earnings. But they paid out more than that in the last 3 FY (including value of share dividend):
FY, DPS(sen), EPS(sen), Payout ratio (%):
2013, 28, 29.43, 95.1%
2012, 27, 30.37, 88.9%
2011, 21, 26.15, 80.3%

Yes, Bursa rule is to be announced within 2 months from financial period end. For 31/10/13 quarter end, it must be announced by 31st Dec. However, they usually announced earlier, usually around middle of the month where it is due.

For shares dividend or bonus:
Eg, if give 1 bonus share for existing 2 shares, the Ex price is:

Px = P * 2/(2 + 1),
where P is the price before Ex, Px is the price after Ex.

After it is Ex, to calc back the price before Ex:

P = Px * (2+1)/2.

Eg Price before Ex, P = RM3,
After Ex, Px = 3 * 2/3 = 2.00

Caculate backward, P = 2*3/2 = 3.00

For shares dividend of 1 new share for every 45 shares:
P = Px * (45+1)/45.

Similar for shares dividend of 1 new share for every 14 shares.

For 2 shares dividends together, it would be:
P = Pxx * (45+1)/45 * (14+1)/14
where Pxx is the price after both dividends Ex.

Repost from the past:
==========================================================
Posted by jpleow > Aug 18, 2013 05:32 PM

For a high dividend yield stock like BjToto, you need to consider the dividends given in the past when looking at the current price.

Usually the price goes up before the dividends Ex then it will be adjusted down for the dividends given.

I just like to give you a clue of what is the 'real' price of BjToto after you add back all the previous dividends:

Let’s consider dividends given in about 4 years:

Ex date, net divd (RM) or share divd:

16/7/13, 0.04
12/4/13, 0.08
15/1/13, 1:45 share divd
5/10/12, 0.065
19/7/12, 0.05
9/4/12, 0.06
4/1/12, 0.08
6/10/11, 0.08
8/7/11, 0.03
21/4/11, 0.06
14/1/11, 0.04
6/10/10, 0.08
2/7/10, 0.08
13/7/09, 0.11 + 0.19 + 1:14 share divd

Based on 16/8/13 closing price of RM4.20,
The 'real' price =
4.20*(46/45)*(15/14)+(0.04+0.08+0.065+0.05+0.06+0.08+0.08+0.03+0.06+0.04+0.08+0.08+0.08+0.30) = RM5.725

The price will rise after they announce a dividend. After Ex, the price will adjust down. The best time to buy is before the dividend announcement. Best is to buy then hold for long term to collect dividends.

Last 2 quarters, they paid less dividend since they need to conserve cash for STM Trust listing. If withdraw too much cash from STM, the balance sheet will be bad for listing approval. Now that STM listing is cancelled, they may pay more dividends. Last financial year they paid out 28 sen TE. If same this FY, at RM4, the div yield will be 7%!

This stock is for long term investor, not for speculators who are looking for short term fast money.

Usually when they announced a quarterly report, they announced a dividend. Oct 13 Report coming soon.

Fierce battle at RM3.98. It seems like big fish(s) is continuously queuing to sell at 3.98 & another big fish (Vincent Tan & associate?) is buying at 3.98.

More good news:

Vincent Tan also bought directly today
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1488493

Robin Tan Yeong Ching also bought today
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1488541

Also shares buy back today
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1488525

Good news, Vincent Tan bought indirectly today, during closed period.
INDIRECT INTEREST - acquired through Berjaya VTCY Sdn Bhd

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1488657

Warning, director sold today, during closed period!
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1482045

Perhaps it is better not to list STM Trust. Can continue holding it for the high dividend yield since there will be no earning dilution. No need to decide whether to invest directly in STM Trust & sell Bjtoto.

So far, ther is no buying or selling from VT & another director who has declared Intention to deal during closed period. Why price so low & still no buying, something fishy.

rlch, how do auditors lift share price?
By coorporating with the management's 'creative accounting'? LOL.

Proposed Change of Auditors
http://www.bursamalaysia.com/market/listed-companies/company-announcements/1469821

Sometimes Change of Auditors is a bad sign. It depends on the reason why the auditors resign but it is not specified here.

If can buy < 9.20 then cheaper than the DRP. Haha.

Also, during closed period, director must announce their dealing immediately, usually after market close.

This price may not last for long.

Vincent Tan make an ‘INTENTION TO DEAL DURING CLOSED PERIOD’ announcement yesterday. http://www.bursamalaysia.com/market/listed-companies/company-announcements/1460349

Closed Period is approx. 1 month before quarterly results announcement to few days after. During closed period, director who wish to trade shares must make this announcement & wait for 1 full trading day before he can buy or sell. Hence he may buy tomorrow either directly or indirectly (through company controlled by him).

He may also sell. But at this price? Not very likely.

Post then delete, SC03 has same style as MC! LOL.

OK, ok, I will leave you alone, Mr reincarnated MC. LOL

I think he also reincarnated into another person! LOL

"S is my partner."

S is Simon Loh?
Wah, this guy is either a big shark or a big mouth! LOL.

========================================
mc121534 also commented on "Stock: [GHLSYS]: GHL SYSTEMS BHD":

Ok tqvm. I will delete myself from tomorrow, hope to hear from you soon. Happy investing.
S is my partner. When I have latest news will let you know but not here. Please provide other sites.
Thanks.

Comment by mc121534 at Oct 29, 2013 06:21 PM
=========================================

Hahaha, really weird guy!

alpha1, this is internet, anyone can pretend to be an insider. :D

Today closing EPY rose 5.6%, GHLSys rose 3.1%, discount narrowed to 23%, reasonable rise!

We need to observe EPY share price to know whether GHLSys price is reasonable. If EPY share price is trading at a huge discount to GHLSys price then something is not right! It represents a big opportunity for investors (especially international big sharks) to arbitrage by selling GHLSys & buy EPY. The latest time they will act is when all the approvals have been obtained & the deal has become a certainty.

At Friday closing of EPY at A$0.45 (equivalent to around RM0.49 GHLSys price) & GHLSys at RM0.655. EPY is trading at 25% discount. This is unsustainable. Eventually either GHLSys price will go down or EPY price will go up or both.

If you speculate & thinking that GHLSys price will continue to rise while EPY price remain stationary then you’re playing with fire!

Yes, no change in gaming tax, good for STM-Trust listing, good for BjToto!

Ya, people who believe the deal will go through, will sell GHLSys & buy EPY instead. Hahaha.

E-PAY ASIA LIMITED, listed in ASX (Australia),
http://au.i3investor.com/quoteservlet.jsp?sa=ss&q=EPY

At A$0.45, it is equivalent to

0.45 * 3 / 2.75 = RM0.49

3 is approx. exchange rate, 2.75 is 1 EPY can get 2.75 GHLSys shares from the acquisition.

It is trading at a discount to GHLSys shares since the deal is not finalized yet. Discount should narrow when there is more progress on the acquisition.

Yes, that was the best time to buy.

I check old records on my PC, did bought Maybank at RM2.99 on 5/8/98. However, didn't hold for long, sold at RM5.00 on 5/11/98.

Lesson: If you bought blue chip at a low price, keep it for long term!

BToto on track to list subsidiary on SGX at end-November
http://www.thestar.com.my/Business/Business-News/2013/10/19/BToto-on-track-to-list-subsidiary-on-SGX-at-endNovember.aspx

Berjaya Sports Toto Bhd (BToto) is on track to list its subsidiary, Sports Toto Malaysia Sdn Bhd, as a business trust on the Singapore Stock Exchange (SGX) at the end of next month. “All approvals have been obtained,” BToto executive director Freddie Pang said in an email reply to StarBizWeek.

The dividend-in-specie can only take place once the company has obtained approvals from the Securities Commission and Bursa for a secondary listing on the main market here. “It can only happen after the initial six-month moratorium period. “Assuming a listing on the SGX at end-November, this will take us to mid-2014 for the secondary listing to happen,” Pang said.

Under the proposed revisions announced on 19/9/13, BjToto holding of STM-Trust will be 86.54% to 87.58% after primary listing in S'pore.

See pg 3 of the announcement:
"With the Proposed Revisions, the BToto Group‟s interest in STM via its unitholding in STM-Trust would be diluted from 100% to 87.58% and in the event of full exercise of the Over-allotment Option, the BToto Group‟s interest in STM via its unitholding in STM-Trust would be further diluted to 86.54%, instead of 79.54% as originally intended upon completion of the Proposed Listing."

Read backward in this thread for earlier postings & you'll know the answer!

I want to point out that there is no info of the EVIDOMA时尚男装品牌 in the Segment Information in Jun 13 quarterly report (pg 12, sect 7), only shoe soles segments shown.

Most likely the revenue is still too small to be included in the report. Don’t get too excited by this news. It may be good for long term but it is not contributing much to profit now.

Hahaha, serious long term investors rarely come to this forum since they spend most of their time doing homework or research, not boasting around in this forum. :D

Good for long term upside, but beware of sharks when the price rise too fast! :D

GHL back on growth path
http://www.thestar.com.my/Business/Business-News/2013/10/12/GHL-back-on-growth-path-Creador-sees-potential-in-shared-services-and-solutions-provider.aspx

At the moment, international steel price is depressed due to oversupply situation in China, if China economy is improving then demand will improve & steel price should rise.

Where did you get this news?

If steel price up, definitely it's good for steel manufacturers. Their raw material are scrap iron & electricity or iron ore & coke for blast furnace. If steel price rise faster than the raw material then their profit margin will improve.

The exact timing is unpredictable.

However, looking at the previous Annjoo share prices:

Bottom: Aug98, Oct01, Dec05, Mar09
Peak: Mar00, Jan05, May08, Oct10

1 complete cycle took about 2 to 5 years.

Secondary listing on Bursa Malaysia is expected to be completed by 3QCY14.

See attachment of announcement on proposed dividend-in-specie on 19/9/13, page 9, sect 10, ESTIMATED TIMEFRAME FOR APPLICATIONS TO AUTHORITIES AND COMPLETION: "Barring unforeseen circumstances, the Proposals are expected to be completed by the third (3rd) quarter of 2014."

Eg, if you have 1,000 shares, your electable portion is 0.16 x 1000 = RM160. Divided by 9.2 is 17.39, discard the fraction, you get 17 shares. ie, you may elect to reinvest 17 shares in the DRP form you received.

You will receive the unused portion in cash. Note that you need to paste a RM10 hasil stamp on the DRP form & preferably send by registered mail to avoid missing on the way (some people may want to steal the hasil stamp).

It may not be that worthwhile for small shareholders to choose DRP. If you want to receive all in cash, just take no action.

wwwcomment, 16 cents DRP at 9.20 means:
16 sen of the 22.5 sen dividend is electable to be reinvested into new shares at the price of RM9.20 in Dividend Reinvestment Plan (“DRP”).

More rumours to help goreng, hehehe.

Cyclical stock. May accumulate slowly during the bottom of industry cycle. Hold until industry up cycle then can make big profit. However, may take a few years.

Aiya, these people ah, how come goreng until charred already :D

BIMB securities maintains Buy on GHL Systems, TP revised up 5 sen:
http://www.thestar.com.my/Business/Investing/2013/08/26/BIMB-securities-maintains-Buy-on-GHL-Systems.aspx

BIMB Securities is maintaining its Buy call on electronic payment specialist GHL Systems Bhd after the company reported first half net earnings of RM3.6mil, making up 47% of full year forecast.

Revenue and net earnings for the half grew by 31.8% and 31.2% from aggressive expansion in the sales force, tapping into new markets in the region. Margins were also improved.

However, quarter-on-quarter revenue saw some contraction by about 7.6% mainly due to lower rental revenue of terminal equipment. EBITDA (earnings before interest, tax, depreciation and amortisation) margin was also lower due to higher salary cost from the aggressive expansion in the sales force. Hence, net earnings was also lower by 21.7%.

“Nonetheless, net earnings will further improve in the second half and our forecasts remain intact.

“We maintain our FY13 numbers (of RM7.8mil) and revised FY14 earnings forecast by 18% (to RM9.8mil) by factoring in higher revenue. Following the earnings revision, our target price is revised to 57 sen based on FY14 earnings per share of 5.2 sen over the sector price-earnings ratio of 11 times. Maintain Buy,” the research house says.

It's a defensive stock, also recession proof (when poor, people want to gamble more :D).

Beside affected by broad market sentiment, it's also affected by government 2014 Budget to be announced in Oct. Usually gaming stocks drop before Budget on worries that gaming tax will increase. However, if gov increase tax on NFO, legal operators will lower the winning prices & then more gamblers will switch to illegal operators & gov may ends up receiving less tax, hence not very likely.

More news to help goreng, if you dare :D

http://www.thestar.com.my/Business/Business-News/2013/08/20/Support-Line.aspx

GHL Systems hit a high of 51.5 sen during intra-day session, the best since November 2009. Based on the daily chart, the prevailing trend is bullish and it will remain that way, as long as the rising 14-day simple moving average, now resting at the 43 sen, continues to support prices. The immediate upside objective would be to fill the 56–56.5 sen minor gap.

Yes, this is a main concern. However, the 40 to 45 sen special dividend is equivalent to 1.5 year of dividends, it should compensate for the earnings dilution.

After that, we should see how they propose to distribute the remaining STM Trust shares after secondary listing. Are they going to distribute all of them & privatise BjToto with SCR (Selective Capital Repayment), ie with repayment in STM Trust shares + cash? Or are they just distribute STM Trust & maintain listing status of BjToto (may need to inject new assets later)?

Personally I would prefer SCR & holding STM Trust directly since a Business Trust can pay dividends with its cash flow & hence should have a higher dividend yield. If they maintain the listing status of BjToto after distributing STM Trust, I may sell BjToto & invest directly in STM Trust.