so long crude oil price remains low or on a slow rise up to 50-60 range (and I believe that this should be the scenario until end of 2017), the refinery business should actually be good. Shell should slowly build up its balance sheet to become cash rich, given that the first 3 quarters alone brought in over 1 billion cash.

ik059, I also own Shell and believe in the long term value of it. But there's no harm listening to what others have to say. I am actually hoping to learn more to learn when's the best time to buy some to pare down my cost should Shell share price drops...

pang72, you mean share price dropped to its offered price in ESSO case?

Based on Q3 report, Shell has 1,500 millions debt, but cash and derivative financial asset of 770 millions in addition to inventory of 970 millions. On top of that, Shell is generating 1,020 millions operating cash flow for the 3 quarters of 2015. So, debt is not so much a problem... Puzzling!!!

Based on the most recent quarter report, Shell Refinery has net asset per share of 1.93, wonder why's it sold at RM 1.78 only?!?

66.3 millions USD for 51% stake?!? That's only 1.78 per share...

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4989897

Puncak wishes to announce that its wholly-owned subsidiary, Puncak Niaga Construction Sdn Bhd (“PNCSB”) had recently secured the tender called by Jabatan Bekalan Air, Kementerian Tenaga, Teknologi Hijau dan Air (KeTTHA) for the operation and maintenance of a water treatment plant in Beaufort, Sabah (“Project”) as follows:-

Name of Project : Kerja-Kerja Operasi dan Penyelenggaraan Secara Komprehensif Loji Rawatan Air di Kampung Lawa Gadong, Beaufort, Sabah

Employer : Jabatan Bekalan Air, Kementerian Tenaga, Teknologi Hijau dan Air (KeTTHA)

Duration : Three (3) years from 1 February 2016 to 31 January 2019

Scope of works : To operate and maintain the water treatment facilities with a total design capacity of 76 MLD at Kampung Lawa Gadong, Beaufort, for bulk water supply to Labuan.

Other terms : As privately agreed with the Employer.

The Contract Document for the Project will be signed between the Parties in due course.

This announcement is dated 29 January 2016.

hng33, you are geng geng geng! Congratulations!

speakup, unless Puncak never report or submit quarter report/annual report. Otherwise, by the latest end of Feb, shareholders who read report will realize for sure if Puncak is holding at least 2.70 +/- 0.10 per share. Once people know it, do you think its possible to offer shareholders takeover at 1.32-1.43?!? I can't rule out the possibility of acquiring garbage companies, but would have difficulties believing it, unless the garbage companies are owned by Rozali himself. But then, Rozali is not allowed to vote for the acquisition. Headache!

Think has to do with a change in government in Vietnam...

TH Heavy market cap only RM 162.6 millions... and its share price is not rising as if there is a takeover offer

hng33, do you think Rozali dare to acquire shitty businesses for Puncak? While have some faith in the balance sheet, have no idea what kind of man Rozali is right now. Sigh!

until quarter report is out outlining the total cash in hand and after Rozali announces how he would spend the billion, its hard for us to reap any benefit from selling the water business. It has instead dragged us into shit, sigh!

roger, even if what you said is true, still not justifying the price drop?!?

titus, if rozali won't even buy back shares, do you think he would consider declaring another meaningful dividends?

Shell refinery is profitable, and current crude oil market is favorable to refinery. There is nothing wrong to buy refinery given that 51% cost less than 1 billion. Or, at least spend 200 millions for share buyback. Current Puncak's market cap is not even 500 millions, yet Rozali did or say nothing, only to appoint his son to be the director!

And, to speak of fire sale, Puncak is on fire sale now, yet we have to see any Rozali action!

suggest Puncak buying Shell Malaysia's 51% holding in Shell Refinery, that should be $$$. Shell Refinery has only 300 million shares trading at about 5. Assuming a 6 per share offer, that's only 900 million cash, much less that what Puncak holds.

Err... maybe LTH negotiates with Rozali, asking him to use 200 millions for share buyback? Current Puncak market cap is not even worth 500 millions

Wordless with this co... Wonder if SC would care to take a detail look into the sellers and buyers

smallvestor, quite frankly, I never like VT too cause he's never known to be kind to shareholders. I am keen only with BJCorp for a maximum of a year. BJCorp has not been good luck in business for the past few years, issues ranging from dropping sales in BJToto and Cosway, hanging property projects in China, South Korea, and Menara Bangkok Bank/Ritz-Carton Residences KL, and holding too much non-income generating assets. Though, since 1 year ago, BJCorp has been able to slowly address these issues. From what I have noticed (1) BJCorp pared down its position in BJAuto, Magni-Tech, and some other non-listed companies to raise cash (well, it did buy into other companies, but in general, seems to sell more than buying) (2) BJCorp has just disposed its plantation land at a good price, raising more than 650 millions (3) Menara Bangkok Bank/Ritz-Carlton finally pulls through and to be completed soon (hopefully before June 2016) (4) South Korea property project is now in court case, with a resolution expected soon (5) Vietnam Toto business seems to be on track (with much delays.)

I guess I am just betting on BJCorp delivering good news going forward that would push its share price higher. Guess won't be making much losses given that BJCorp is already so low, at 0.365 (well, I bought at 0.385, and an entry earlier at 0.49.)

An additional reason would be, I have preferred finding companies of relatively large equities/market cap with bad business investment in the past few years while its future prospects seem to be better. Done this approach with success with TA Enterprise, Insas, Bernas, UEMWorld (changed name already), and Magnum but failed terribly with Puncak.

cyphua, it seems like VT is more interested at issuing ICULS and warrants to himself... Plus, at this desperate share price, doubt there will be any taker, at least I won't, haha... rather buy from market at 0.365

cyphua, why worried about raising fund to cover the project cost of Vietnam lottery? It's estimated to be about 920 million ringgit over 18 years. Even to assume 50% during the first 2 years of business, that's only 460 millions, much less than the 2 billion cash that BJCorp is holding now.

On top of that, as of Oct 30, 2015, BJCorp has a cash & equivalent of 2 billion while owing 7.6 billions. Since the latest quarter report being announced, BJCorp has raised 93 millions through disposal of Magni-Tech, 76 millions (not sure how much is received right now) through disposal of Fosan Berjaya Environmental Engineering while have a need to spend 68 millions to buy BJLand (the rest are issued with ICULS and warrants and cash outlay is insignificant). So, I guess, BJCorp should be pretty safe, assuming that it's able to free up more cash from the completion of Ritz-Carlton Residences KL and Japan's property project.

LTH bought at above 3 before special dividend when it's forced to announce position after holding more than 5%...it would be big blow to LTH if it's LTH selling. Anyhow, Puncak board should announce steps to buy back 200 millions worth of shares so long price is below 2.50

frankly, unless the selling price of Shell Refinery is announced or 'leaked', there's not much hope Shell share price can perform in near future, even if there's a record profit announced later next month... Guess just have to wait until end of year, hoping that crude oil price will stay between 32 and 45 throughout the end of this year with a gradual uptrend. That should push Shell's net worth and profitability.

Eddysurge, BJCorp's core businesses are not doing well lah! (1) Property developments through BJLand in China and South Korea are in limbo (2) Cosway, purchased during high time, is only on a recovery stage, and could really use a MUCH better profit figure to justify its purchase price (3) number forecasting through BJToto has been on a slide at least for a few years.

Hopefully, with (1) Success operation of Vietnam number forecasting business (2) Success selling off China property development (3) South Korea decides to either compensate BJLand or let BJLand continues its development (4) completion of Ritz-Carlton Residence in KL and property development in Japan somewhere between now and June. The above should drive BJCorp's share price to its old high despite Cosway and BJToto businesses are not doing as well as it should be.

jacklintan, there is no fear if there's market correction, but a lot to worry how Rozali will spend the billion... I am very upset Rozali didn't even care to mention share buyback desire. Puncak could easily utilize 200 millions for buyback without concern that its balance sheet will deteriorate.

BJCorp has debt totaling 7 billions while having only 2 billions cash. It will need 1 billion for Vietnam toto project, leaving around 6 billions of debt. Hopefully, BJCorp will be able to dispose China project successfully, raising 1+ billion of cash, with additional 2 billions from selling Ritz-Carlton Residence KL and property development in Japan... These should all put BJCorp in good seat for next 1 to 2 years for profit growth...

Cyphua, vt want to sell his bjland to bjcorp payable with iculs and warrants...

hopefully, another 3-5 cents tomorrow, and everyday until CNY, hahaha...

suntzhe, may I know where do you get the 400 millions profit? Thanks!

Don't think shell can make this much in the last quarter, I m actually looking at between 0.20 - 0.45 per share profit in the last quarter... just hope no bad surprise.

Tt01, bjtoto exposure in Vietnam toto is very little, only 10.2% despite the name...

wonder if we can see 0.42 today?

mr x, to believe that VT sons&daughters capable would be disastrous, given VT's track record...

rMoi, no. At this price, it means all of Puncak non-cash asset has 0 value and its CASH has less than half of its value, as if the money is parked in a no man land under unknown currency... 2.6 bintang bintang?

paperplane, hoping only lah, can't have CNY dream meh? I have no intention to sell anyway, plan to hold till end of year unless seeing some great opportunity to swtich.

I am kind of hoping for 0.62 before CNY, haha...

tt01, congratulations!

hng33, congratulations!

The following makes more sense!

http://www.theedgemarkets.com/my/article/shell-refining-mulls-china-firm-takeover?type=Corporate

KUALA LUMPUR (Jan 20): Loss-making Shell Refining Company (Federation of Malaya) Bhd kept mum over recent reports of a share acquisition by China's state-owned enterprise Shandong Hengyuan Petrochemical Co Ltd.

Sinchew Daily, quoting a Chinese media report, said that Shandong Hengyuan Petrochemical will invest US$130 million (RM565 million) to acquire Shell Refining.

When asked on the matter, Shell Refining Malaysia said the group has nothing to announce at this point of time.

"Shell Refining is a separate independent entity from Shell's other operating units in Malaysia," the company's spokesperson said in a reply to The Edge Financial Daily's inquiry today.

"The board continues to proactively investigate long-term options in the best interest of the company," it said, adding that the group will update its shareholders on the progress.

Shell Refining stressed that it remains focused towards ensuring that its refinery runs safely and reliably, as well as deliver against its business objectives for the year.

The Chinese report, quoting a company official who declined to be named, said that China's central planning agency, the National Development and Reform Commission (NDRC), has approved the acquisition but has yet to sign the agreement with Shell Refining.

According to NDRC, Shell Refining was formed in 1960 and was publicly listed in 1962. Its major shareholder is Shell Overseas Holdings Ltd with a 51% stake.

The Employees Provident Fund is the second-largest shareholder of Shell Refining with a 15.93% stake, followed by Permodalan Nasional Bhd (12.63%) and Kumpulan Wang Persaraan (2.38%).

Last July, Shell Overseas Holdings, a wholly-owned unit of Royal Dutch Shell Plc, was mulling the sale of its 51% stake in Shell Refining, as it weighs the option to exit the downstream business in the country.

Shell Refining chairman Iain John Lo told pressmen at that time, that its major shareholder had informed the Shell Refining board that it is considering options that include a potential sale of its shares or converting the refinery in Port Dickson into an export-import storage terminal.

"In this case, if Royal Dutch Shell sells its entire stake, it will trigger a mandatory general offer to all the other shareholders, which will result in the entry of a new major shareholder. But I want to make this clear that it has not made any decision as it is weighing several options," he said.

Currently, Shell Refining's refinery plant in Port Dickson, Negeri Sembilan, has a capacity to process 156,000 barrels of crude oil per day.

The Port Dickson plant has been bleeding financially for the last four years since the financial year ended Dec 31, 2011 (FY11), as it grappled with poor refining margins.

The stock fell 29 sen or 5.33% to close at RM5.15 today, giving it a market capitalisation of RM1.56 billion.

bangkukayu, short selling means selling without owning the said securities. If no security is borrowed for the shorting, its called naked short and not allowed in Malaysia. To short in Malaysia, its both costly and limited by choice (Bursa has a list of short-able shares, you have to check yourself, I am not keen and don't know much the details.)

posby, that doesn't include my earlier losses in BJCorp amounting to another 0.12 (I sold earlier to buy Puncak, another hazardous investment...) so true cost should be 0.505.

I forgot to mention this cause I have included my losses into the calculation of Puncak cost of purchase...

hng33, be careful, I am trapped now with an average cost of 0.385, market is so bad now, everything is wrong, nothing is right, sigh!

hng33, you have sold yours earlier? Thought you are invested in BJCorp?

Yeah, you have a point... Hope this is the year for bjcorp to fly high

http://www.bursamalaysia.com/market/listed-companies/company-announcements/4980913

AWARD OF INVESTMENT REGISTRATION CERTIFICATE FOR THE NATIONWIDE COMPUTERIZED LOTTERY IN VIETNAM

Money come, money come, money come, wahahaha....

tt01, 6 months - 1 year deposit now is 4% - 4.5%

muttoncurry, err... in the business of holding cash, a lot of cash, waiting to venture into new business?!?

almost all companies are dropping lah, unless they are tightly owned...

虚惊一场！