Mr. Market does what he wants.

Thanks for the clarification, I didn't notice the change!

Actually I'm glad a decision has been made. At least we can now move on to the next phase.

What is the 0.30 in your calculation? NTA after disposal? That should be somewhere close to 0.40. And let us not forget that company did share buybacks, so we should be looking at around 2.65 instead (if we assume they will remain in treasury or cancelled).

Q3 result is not out yet. What happened?

No idea. Let's wait for the announcement.

Also, 4 cents dividend per share to be announced on a later date.

Good Q1 result is out: http://www.bursamalaysia.com/market/listed-companies/company-announcements/1764537

Could be in the next Q report since it is disposed in Sept.

17 Oct is just around 1 more week. Let's wait and see!

stardark, yes stock price ex dividend should be determined in a more meaningful way just like you said it. That is why I was curious to know how the RM0.08 figure came up as some mentioned here. For all we know now, NTA post dividend is RM0.40 per share. Just waiting for the announcement...

kcyim1970 can you explain how do you get the figure of RM 0.08 per share post-dividend?

RM2.62 per share was the original offer. But company did share buy backs since then. So after recalculation (minus the 7,189,600 units of treasury shares), should be special dividend RM2.65.

If you believe the price will eventually reach RM12, does it make a BIG difference if you bought it at RM7.54 or at RM8? Not really a big difference here and so you can still buy in. But if you believe the current price is overvalued, then don't buy.

At the end of the day, don't let emotions and unverified reports/rumours control your decision making. Stick to your fundamentals and intrinsic value. And if you are trading, check common chart patterns to see if they have previously appeared in this counter. And polish up your chart reading skills.

Just my 2 cents. Happy trading/investing!

Very true. Some made money and some loss money from Bones' site. I tend to stay away because I see more bad than good.

By the way, this is a very good article and I hope more people here will be educated and informed. Keep up the good work!

If just only farm 8, then should not be a problem. They have 7 other farms supplying to Singapore.

I don't know....but I do not believe in anything unless there is proof. Let's wait for his link.

Plus I do not see any announcements from the AVA website regarding Teo Seng's eggs. For the latest list of egg exports allowed by the Singapore AVA, link is here: http://www.ava.gov.sg/NR/rdonlyres/233BFB05-C33D-42E3-9F5B-1A46CEAD61C0/28380/MY_LAYERFARMY140912.pdf

JXRepcoBuffet, how can it be banned by Singapore? Their farms are accredited and granted export licence by the Agri-Food and Veterinary Authority of Singapore (AVA).

I do not get it why Lay Hong can be valued at RM3.50 per share??? It's not that great compared to Teo Seng....does it means Teo Seng's real valuation is more than that???

tehaisKAW agree with your TP! That is my target TP too!

erm, what bonus announcement?

You should check out Scientex and GDEX. Both looks like a fundamentally good company. I am considering buying one of it myself. Just my 2 cents.

Teo Seng is well managed and can command good ROAE & profit margins. Of course sooner or later the price will be adjusted to a fair value. Which is not far away now.

Company was willing to pay at average RM2.68 per share for those 2 million shares bought back on Friday. If this is not a clear sign of deal being confirmed, then I don't know what it is. Payout is around RM2.63-2.64 per share now due to share buybacks. I anticipate even more buybacks in coming weeks :)

kaikai - I think post dividend price would not be so low as NTA is already RM0.40 per share after disposal.

In my opinion, buying now is better than buying when it is in PN17 as you are getting back 100% of your invested capital (assuming the deal goes through). Plus, whatever the post-dividend price is, your cost is practically zero. It's a risk free investment.

The only downside is if the deal does not go through and the price will definitely fall short term, but I don't really see that happening at this moment. The company have been buying back shares which might suggest the deal will go through after all. Just my 2 cents.

powerwk I hope you are right. They have a good track record in managing this company and it will be a shame to close shop.

Simonalibaba you hold since 0.60? Wow congrats! You can laugh your way to the bank now!

I am more concerned about management buying back shares on the 25th, 26th and 27th. Total treasury shares now stand at 1,739,900. If they continue this trend, us shareholders will get more payout from the special dividend. But that leaves the company less money to acquire new business. Company dissolve on the cards? I do not mind that, but I would prefer to have them acquire a new business that may potentially be good.

Profit dropped due to cost incurred in opening new stores. Compared to last financial year, they opened more stores this financial year. Once they settle down and expand their margins, we should be seeing a good run in FY15. Just my 2 cents.

Harudin, may I know where you get this news? TQ.

Why would company do buy backs now?

of course Jobstreet will fall into PN17. The question is what sort of business will they acquire or venture into? If they have decided to give out money back to the shareholders, it is possible they might be looking to raise funds for acquisition by issuing rights or borrowing money from the bank. Or are they very confident that they have enough cash for that? We can only wait and see. The management have been doing well so far (before the proposed acquisition), so hopefully they can come up with something to get out of PN17!

Much higher dividend too! Good!

Q2 report is out. http://www.bursamalaysia.com/market/listed-companies/company-announcements/1717529 and 0.5sen dividend announced.

Nice writing about PN17. There are good companies going to PN17 soon such as Jobstreet and it is because they are selling their main business. I think we should scrutinize PN17 companies and understand why they are in PN17 first before making any buying decisions.

Q2 financial report is out! http://www.bursamalaysia.com/market/listed-companies/company-announcements/1714861

finally good news after a long wait. Worth it! :)

As I recall, Bones always tend to make risky 'BUY' calls based on his own technical analysis. His is short term. If you are looking for mid-term or long term investment, I suggest you follow fundamental analysis instead.

Now that you bring this up, I will definitely put it in my list of stocks to be analyzed.

I think you should include further analysis such as ROAE, ROA, profit margins, FCF, owner's earnings, future prospects, market outlook, competitors etc. It will further showcase a company's strength, or reveal some weaknesses in it.

Actually Jae Jun did compile a list of valuation methods which have been researched, backtested and tested on a paper portfolio. Link: http://www.oldschoolvalue.com/stock-screener.php

And Graham formula actually does produce a decent return in the long run. Not the best valuation out there, but definitely a viable option.

A good read about the formula, why 4.4% was chosen, and alternative to it:
http://www.buffettsecrets.com/intrinsic-value-graham-formula.htm#Finding_the_input_values

Found it! The link: http://www.bpam.com.my/op/O1002.asp

I did read from somewhere that Malaysia Corporate AAA bond was 4.35%. Unfortunately I can't remember where I read that!

I would seriously love to see the deal break down (I know this is highly impossible since management eager to sell). Because this is a low debt, cash rich company that commands stable and high ROAE and profit margins. The management should really bargain for a better price for Jobstreet!

lrm8888 you will hold even (for example) the price is much higher than the intrinsic value? I am an investor too, but I will sell if the business is overvalued/overpriced.

So which valuation methods do you find that is personally working best for you? (DCF, EPV, etc etc...)

II, I'm currently using Jae Jun's revised formula with no growth P/E of 7 and G multiplier of 1.5. Of so many evaluation methods for calculating intrinsic value, which one works best for you?

so basically just your opinion? Or is there any credible source to this?