Now talking. 405? Just bought @ .47

bought some at 0.47

Heavy selling...

rich, has I been less optimistic about Puncak, would have sold some around 3.6x and bought back with recent drop... I am concerned because I lost the opportunity to make some of late, sigh... Luckily, was able to sell Puncak @ 3.56 and buy Puncak-WB @ 2.49 today, kind of happy.

Hng33, I realize that the market sentiment is not good, actually kind of anticipating it a while back, which is why I hold mostly shares of companies with recently sold businesses, rich in cash or with pending sales of businesses, including Puncak, Hwang Cap, BJCorp and Oriental. Sigh...

hng33, truth is, I thought it would be at least 3.60 until the deal is completed and rises further to around 3.80 - 4.20 when special dividend is distributed

fainted, even lower than before any announcement...

I guess only when o&g price stable down, or when the coming quarter report reflecting profits in its o&g business, Puncak share price should be hard to hit more than 3.80

rich, probably hng33 is off today... no idea about asset transferred from PNSB & Syabas to PNHB, but I guess its somehow reflected in the 2.191 bln figure already.

Rich, the 2.191 bln figure is from the announcement of water asset disposal. The figure includes the gain from the asset disposal already. RM 4.47 per share has not included any potential losses in business given that it has disposed the profit generator, other assets that include construction, o&g, and other water asset in China has yet to see significant contribution. So, if Puncak incur losses in business, the per share value will drop accordingly. Though, it could be higher so long as not all sukuk holders will convert their bond to shares. I guess that's one reason why the special dividend won't be set any higher, that would only encourage more sukuk holders to convert.
I guess I am investing mid to long term, holding from a few months to a few years, depending on how I view the market and if I see any better opportunities. I try my best to only invest in companies with market cap or net asset that's at least 500 mils for a few years though.

My apology, there are 2,036,800 shares held in treasury, so the actual per share value should be higher

will we be seeing at least 0.64 in the next 2 months?

From what I know,

After proposed disposal, the shareholder equity will be RM 2,191,243,000 with 411,261,000 shares outstanding. There are 42,542,504 warrants (of which 3,986,000 has been converted). In addition, The RM 165 mils sukuk can be converted into 82.5 mils shares.

Condition / Shareholder equity / Shares outstanding / Per share value
Before any conversion / 2,191,243,000 / 411,261,000 / 5.34
After warrant conversion / 2,233,785,000 / 453,803,000 / 4.92
After sukuk conversion / 2,398,785,000 / 536,303,000 / 4.47

The above has not taken into account the distribution of RM 1.00 per share special dividend

Hng33, thanks

calvin, the NTA 1.30 per share you mentioned is actually NA. There is a lot of intangible and goodwill in BJCorp's balance sheet. Recent disposal of BJAuto and to be sold plantation land help reassure us that those intangibles and goodwill are reliable to some extent, at least that's how I view it...

tenlot, I am sorry, I didn't read as much on this site only until lately and on stocks that I am looking to learn more. I guess, just be cautious when reading and do your own facts finding while listening to what others have to say, pros and cons. Should calvin wrote a book, so long as he didn't ask us to buy compulsorily, I guess it is still OK. I do find some of calvin's posts to be exaggerated (like BJCorp's Asia Berkshire), but it happens to everyone sometimes.

tenlot2, I guess calvin hasn't asked anybody to buy his books or attend his talks yet, right? You seem harsh on your comment. Calvin introduced Mulpha to me, but I found it to be riskier based on my investment criteria and chose not to buy any. From what I see, he didn't shove it under my throat when offering me ideas.

the Loh BIG family has already controlled more than 50% of the company, despite EPF and Aberdeen's more than 20% ownership, there isn't much we can do, sigh...

this stock can only move if its to distribute its cash hoard of over 2 billions... its more than 3 per share sitting idle. Selfish major shareholders

am securities really don't know what they are talking about... advising shareholders to accumulate with a fair value of RM 3.40 when the price is already 3.45 (Nov 11 closing price when the deal is announced.) If am securities believe Puncak only has a fair value of RM 3.40, how could they have advised others to buy when price is already 3.45?!?

haha... good point

hand itchy and bought some more at 0.48 which I initially plan for at 0.47

cloudy future...

how much do you guys think Puncak will reach?

If I were not wrong, Puncak has over 600 mils of cash in hand, wonder if that would still be with Puncak?

only breakeven from buying WA selling Puncak. Selling Puncak too fast but WA rising faster and has to buy higher
Sigh, guess its not my thing, should ban this concept of trading... still happy from seeing a rising Puncak though

I am looking at a range of 3.80 - 4.20, wonder if its reasonable or just way too ambitious?

The details of the water asset sale is out, will distribute at least RM 1 per share, the lower end of my expectation... still, its better than what's has been suggested in the market of less than RM 0.60

Hope to see 4 soon...

If I were not wrong, parent company doesn't have to control 50+% to declare a company its subsidiary, it can be less than that. Truth is, I kind of prefer BJCorp sells more of its subsidiaries, hopefully all and distributes all proceed to its rightful shareholders...

If I were not wrong, the details of debt and asset to be included/excluded in the 1.56 bln deal are currently intensively 'negotiated'... I have thought the deal would be completed at least a month back, sigh.

Profit from BJCorp's sale of BJAuto is not reflected on income statement, only reflected on balance sheet and cash flow statement. Read some time back its legit...

Despite lackluster share price performance, it's still good to know that BJCorp's balance sheet is in good hand. If there is anything to worry, it would be VT injecting some of his personal s**t into BJCorp.

While praising the sale of BJAuto with handsome profits, its pitiful to notice that BJCorp has mostly stopped share buy backs at market price above 0.50

BJCorp still has 44.28%, at current rate, BJCorp can place 7 more times to realize another 900 millions capital gains, way to go

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1790353

BJCorp sold 6.19% of BJAuto for 160 millions to realize 136 millions of capital gains (still having difficulties understanding why isn't it reflected in the income statement)

http://tefd.theedgemarkets.com/2014/FDsetia/FDsetia_20141110.pdf

page 17

Carson, u have to ask saiful for more info & knowledge on when and how to in & out to maximize...

Calvin, thank you for your suggestions, will take a look at these stocks...

Of all, I have long noticed Mulpha staying low for a long time, been losing or barely making money despite its rich assets.

I mean consider

Calvin, what are your holding now that you considered undervalued,besides bjcorp? Thanks

yes, still can't help but hope they would offer more dividends...

hng33, hmm... hope you are right given my exposure in BJCorp. I am targeting a best case scenario of within 6 months 30% returns or a worse case scenario of 8 years 110% returns

hng33,

1. land sale, its not completed yet, that why I said we need good news on when the deal will be completed;
2. VT is BS too much, until the IPO is confirmed and shows how BJCorp shareholders will benefit from it, doubt much will change;
3. REIT is only mentioned, still a long way to go, and yet to know how BJCorp shareholders will benefit from it...

we need good news, wonder when will the land sale deal's money coming in?

hng33, thanks for sharing...

hng33, I c... been thinking of selling some too, just thought should wait for quarter report and s&p

yes yes yes, go higher please...
hng33, so quick to sell, having little faith for it to go higher?

calvin, base on past history, seems 45.5 is possible... sigh, I bought again against my better judgment, hands too itchy, think will start queue from now on to avoid buying too high.

against my better judgment, bought some BJCorp @ 0.49 just now...

haha... I thought it would go straight to at least 82