hng33, thanks for the clarification

Yes, gamblers run banks, and all the time, its risk versus return

BJCorp should consider selling all Cosway stores in Malaysia to 7Eleven through share swap. To 7Eleven, the purchase will enhance its base and lower merchandise cost through economy of scale. To BJCorp, getting back to chance to have a say in 7Eleven...

With the total liabilities of 2.819 billions, that would assume Puncak's other businesses carries no debt or other kind of liabilities, phew!

hng33, if I were not wrong, current offer for Puncak is 6.155 billions, with equity portion of it valued at 1.553 billions, right? That would assume the debt portion at 3.336 billions. Though, a recent relook at Puncak recent quarter report, it has only total liability of 2.819 billions. So, where does the difference of 517 millions go?

calvin, BJCorp price is rather well supported below 0.49 much to share buy back. Unless share buy back is seen above 0.50, there won't be much hope until we see improvements in BJCorp businesses.

jyou, I do not know much about calvin's action in ifcamsc. Though, for one to have an impact in a particular stock, whether to benefit on the rise or gain on the drop, I suppose he/she must be willing to throw a few percentage of ownership/shorting of that particular company. My suggestion would be to avoid small cap companies that has market cap or tangible book value of less than RM 500 mils. If your interests is in small cap, then you really must read the company's report carefully and learn about the industry it's in to make sure that the growth is sustainable to support the PE or PEG ratios. Otherwise, you may want to make sure that the company has been distributing dividends consistently, given some companies' market cap are small by nature of business (I mean the industry is relatively small or with not much growth potential but lucrative nonetheless to deserve a listing status).

jyou, don't get upset by calvin. Before investing, you should read news and financial reports of the company despite what was said by him, or anyone trying to 'lure' you to invest. Then, your decision to invest will purely rest on your knowledge and understanding of the stock.

I have waiting til my neck is long... sigh, why so slow?

tt101, your 500k interests saved should be divided by four, given that its a quarter report, rather than an annual report

sunztzhe, will take your viewpoint into consideration. Though, I suppose it would be safe so long Puncak share price is below 3.80. Current share price seems to reflect only its Selangor water business to be sold to the government. We have yet to know what asset will be returned to Puncak for not being related to Selangor water business. And, I suppose its other water businesses should carry some value, in addition to its o&g business that may result in losses or fail to secure projects in the future.

Truth is, the way I look at the o&g industry, the demand is still there, just that the growth has slowed. So long Malaysia o&g has a cost structure that's below 70, we should be safe, so is Puncak. Puncak's o&g business may no longer as lucrative, it's not running out of business. If this part of business is valued at a PE above 15, I would be worry. Given 0 valuation, I suppose its safe.

suntzhe, at current price, the o&g part of Puncak businesses is basically priced at 0, hmm..., assuming I am right about its asset value and quality. Though, unless Puncak board is speeding up the water deal and clearly states how the cash from deal be spent, doubt there will much price swing (up, hopefully).

well, we have to judge for ourselves if what was said has merit.

Probably all await the land sale in selangor n property project sale in china?

Hmm... sunztzhe, care to share? All I know the two biggest shareholders own between 50 - 52%, with lth buying up the most of late. Proceed from water asset sale should amount to 3.00-3.30 per share. Net cash per share after sale is not clear, probably between 3.00 - 3.50. Most analyst reports suggested between 0.25 - 0.60 dividend,i m hoping for 1.00 - 1.50, too ambitious?

haha... you better be wrong, been waiting for this moment for quite some time

hng33, mbge7clt, thanks.

Alas, we have yet to wait for Puncak offer details of the deal and how it would utilize the 1.553 billions. Money, money, money, I see money.

They should have paid better dividend, hmm..., at least RM 0.25?

http://www.bursamalaysia.com/mar ... nouncements/1772977

Type of transaction Date of change No of securities Price Transacted (RM)
Acquired 14/10/2014 215,500
Acquired 15/10/2014 500,000
Acquired 16/10/2014 500,000

Circumstances by reason of which change has occurred Purchase of shares
Nature of interest Direct
Direct (units) 40,333,700
Direct (%) 9.76
Indirect/deemed interest (units) 0
Indirect/deemed interest (%) 0
Total no of securities after change 40,333,700
Date of notice 20/10/2014

LTH not hardworking enough? Hope to see RM 4 soon

real disappointed with today's share buy back, only 2 millions, kind of hoping at least 5 millions shares

i'm waiting for .65 - .80, too ambitious? and sure don't mind 1.00

seems like the fed is trying to hide the details of Langat 2, wonder who is benefitted from this?

better than me, sold all at 0.825

sold all my puncak for wa already, not really attractive if you look at the spread of its warrant... buy only at 2.16, sell at 2.10

Thought I will be sheltered in bad time due to sale of water asset, guess not

hng33, thanks for clarification.

hng33, doubt Puncak will accept anything less given a higher offer has been given. And if a new offer is to be tabled, the whole water issue can only be dragged on further, which doesn't suit either BN or PR. If Gamuda's deal were to be accepted, I suppose current offer for Puncak water asset will be use as benchmark.

Of course, this holds true unless you know something more than what's presented so far.

I was wondering how hasn't anything been announced yet, it is earlier mentioned a deal will be concluded and shareholders approval will be sought at the latest at the end of September.

hng33, welcome back

initially thought to buy back at 0.78, luckily didn't act

Lucky to have sold my osk @ 2.15, but bought hwang cap @ 1.90, also suffer, just slightly less

Guess unless buyback volume is increased, price may fall further. Feel bad having to buy more with every fall, but no choice

I mean puncak @ 3.14

Bought some puncak @ 2.14 n puncak warrant @ 2.22 today

My best guess, OLH is trying to secure listing status of OSK upon merger of CIMB-RHBCap-MBSB instead of trying to distributes RHB shares to shareholders while grouping his property assets under one roof. So, instead of giving out at least RM 2.00 from RHB, he prefers keeping most and just hands out some warrants (which you will give him money in future) and RM 0.15 special dividend.

datuk, thanks for your advice, I only top additional 5% of initial investment every time BJCorp falls RM 0.015-RM0.025, should be alright and not got my hands burnt, hopefully

and notice something, each time after I bought, it drops some more, sigh...

hmm.. bought some at 0.47

juinming, listed companies can't issue new shares less than par value, which is RM 1.00 for BJCorp

the volume of the share buy back should be increased, 2 million is too small to hold the price

Phew, lucky to be able to sell right before it falls further

Sold mine at .825, not even able to maintain despite rally in us last night

I bought some at 1.90 today to be among u guys

truth is, I could use a 0.445 to average down my cost

good one...

hmm... an NTA above 2.80 with a market price of 2.14, real respectable...

Bought some at 0.49, less than half an hour after purchase, it drops to 0.485... sigh, VT money not easy to earn

Sold my osk @ 2.15, probably add back later

Bought some @ 3.96

Then OLH really have to work hard to move price closer to NTA, why else is he paid that much of money?

I was wondering what's OSK core business be when its stake in RHBCap drops to less than 5%...

Still hoping on OSK merging its other non-RHBCap businesses with PJDev and OSK Property