Posted by jonatlau79 > 2014-02-20 09:18 | Report Abuse

Seek Ltd Need Cash.....

Posted by SexC > 2014-02-20 09:36 | Report Abuse

Why dropped so much.. Isnt special dividend RM 3.02 per share?

Posted by cheeseburger > 2014-02-20 09:45 | Report Abuse

already counted.

Posted by SexC > 2014-02-20 09:55 | Report Abuse

If u r right D announcement is very misleading..

Posted by affersdarto > 2014-02-20 10:02 | Report Abuse

I'm confused... i thought Seek Ltd already owns 22% of Jobstreet... so the offer should be for the remaining 78%. 78% of 700 mil shares is 546 mil... hence 1.7 bil for 546 mil shares should be around RM3.11 per share. Is this right?

Posted by ronnie2u > 2014-02-20 10:19 | Report Abuse

So buy now @ RM2.60, get back RM3.11 as special dividend ?

Posted by Firebird2 > 2014-02-20 10:25 | Report Abuse

The figure is Rm1.73b for the remaining stakes 78%.
Rm1.73b divide by 546 mil shares is Rm3.16.
Right?

Posted by Lew Chin Hoong > 2014-02-20 10:26 | Report Abuse

Still want to buy meh....u need wait 2 month to get 2.67.

Posted by Lew Chin Hoong > 2014-02-20 10:33 | Report Abuse

Newspaper said around Rm2.67 only http://www.nanyang.com/node/600790?tid=462

Posted by fatty_tang > 2014-02-20 10:35 | Report Abuse

The purchaser is "SEEK Asia Investments Pte Ltd". The 22.36% of Jobstreet shares are held by "SEEK International Investments Pty Ltd". I guess they are considered separate entity.

Posted by SexC > 2014-02-20 10:40 | Report Abuse

jobst stil hv remaining bizs after tis disposal

Posted by Gusen > 2014-02-20 10:41 | Report Abuse

http://www.nst.com.my/latest/seek-buys-jobstreet-for-rm1-73b-1.488530

"Jobstreet Corp Bhd will return to its shareholders a whopping RM1.7 billion from the sale of its online job business to Australia’s Seek Ltd.

Shareholders can expect to get the windfall within two months, and the money will be paid in the form of a special cash dividend, JobStreet said.

Seek is also a substantial JobStreet shareholder with a 22 per cent stake and it is poised to pocket some RM374 million from the payout."

1.7 bil x 22% = 374 mil

1.7 bil / 635,124,860 = RM2.676

Anyway, this is just my calculation.

Posted by affersdarto > 2014-02-20 10:44 | Report Abuse

ya la... that's correct, they're not buying Jobstreet Corporation Bhd.... so RM2.67 sounds right. Shud've sold this morning when somebody bought at RM2.98.

Posted by affersdarto > 2014-02-20 10:51 | Report Abuse

No more business after disposal. Excerpt from the announcement:

5.3 Loss of potential future income from the Disposal Companies
The Proposed Disposals will result in the loss of potential future income from the Disposal Companies, as they are currently major contributors of the revenue and profit before tax (“PBT”) of JobStreet’s group of subsidiary and associated companies (“JobStreet Group”).

For the FYE 31 December 2012, the Disposal Companies collectively contributed approximately 93% and 82% of the JobStreet Group’s revenue and PBT respectively. Moving forward, JobStreet will cease to consolidate the revenue and profit contributions from these
entities.

5.4 Listing status of JobStreet pursuant to the Proposed Disposals
Upon completion of the Proposed Disposals, JobStreet may be classified as an ‘affected listed issuer’ and as a ‘Cash Company’ as set out under Practice Note 17 (“PN17”) and Practice Note 16 (“PN16”) respectively of the Main Market Listing Requirements of Bursa
Malaysia Securities Berhad (“Listing Requirements”). Should JobStreet be classified as an ‘affected listed issuer’ or ‘Cash Company’, JobStreet would have to regularise its condition within the stipulated timeframe set out under the Listing Requirements.

Failure to comply with the obligations under PN17 and/or PN16 of the Listing Requirements may result in the suspension from trading of JobStreet’s listed securities and/or delisting from the Official List of Bursa Securities.

Posted by affersdarto > 2014-02-20 10:53 | Report Abuse

7. LISTING STATUS AND FUTURE PLANS OF THE COMPANY
Upon completion of the Proposed Disposals, JobStreet will have no significant operations and
will hold cash, certain investments held for sale and other illiquid assets.

Posted by SexC > 2014-02-20 10:56 | Report Abuse

wat hv bin stated here r so confusing.. I think I wil read d announcement itself.. don't trust newspapers..

Posted by Gusen > 2014-02-20 10:57 | Report Abuse

就业坊向马交所报备，将以17.3亿令吉脱售JobStreet.com私人公司，以及Agensi Pekerjaan JS Staffling服务私人公司的所有股权。
"就业坊即将脱售的业务，包含就业坊在大马、新加坡、印尼、菲律宾和越南的网上招聘业务。"
这意味着，上述交易并没有包含就业坊在泰国、印度和日本的网上招聘业务，以及Autoworld和作为上市公司的就业坊。

it is very clear, lump sum sell, so it is RM 2.676.

Posted by SexC > 2014-02-20 11:07 | Report Abuse

I c d NA per share is RM 2.73.. so is RM 2.53 now cheap??

Posted by SexC > 2014-02-20 11:17 | Report Abuse

Net cash after distribution is stil abt RM 16 Millions

Posted by SexC > 2014-02-20 11:17 | Report Abuse

wit tis kind of cash can do a lot rite??

Posted by SexC > 2014-02-20 11:18 | Report Abuse

Buy as price is low now??

Posted by SexC > 2014-02-20 11:19 | Report Abuse

price now far from NA of RM 2.73 n RM 2.676....

Posted by SexC > 2014-02-20 11:22 | Report Abuse

oooiiii.. yes or no??

Posted by SexC > 2014-02-20 11:24 | Report Abuse

ooii?!?

Posted by ryei > 2014-02-20 11:38 | Report Abuse

haha sexc u r funny as hell

Posted by SexC > 2014-02-20 11:39 | Report Abuse

wrong answer.. I want to know can buy or not now??

Posted by cumicumi > 2014-02-20 11:41 | Report Abuse

buy buyb buy

Posted by SexC > 2014-02-20 11:42 | Report Abuse

Tis also sound positive.. whopping.. windfall..

http://klse.i3investor.com/blogs/valueinvestorresearchklse/46723.jsp

Posted by calow1 > 2014-02-20 11:44 | Report Abuse

Yes can buy

Posted by calow1 > 2014-02-20 11:46 | Report Abuse

Special cash div worked out to be 2.72 per sh.

Posted by SexC > 2014-02-20 11:49 | Report Abuse

2.55 now vs 2.72.. not bad

Posted by calow1 > 2014-02-20 11:53 | Report Abuse

Rough calculation is published in biz star today. Only thing is wait for 2m. And I think they still hv a 1.75dividend to pay. If have cash to keep 2m why not? Think can buy rite?

Posted by Lew Chin Hoong > 2014-02-20 11:55 | Report Abuse

Why u see NA?they nt going to dispose the whole company..they can just sell their core business and keep the cash.

Posted by SexC > 2014-02-20 11:58 | Report Abuse

price now lower thn NA mah.. at least safe ler.. rite?

Posted by SexC > 2014-02-20 11:59 | Report Abuse

got dividend too.. 1.75dividend to pay

Posted by TonsilBasher > 2014-02-20 12:00 | Report Abuse

hahahaha. oversold....fear.haha

Posted by SexC > 2014-02-20 12:02 | Report Abuse

r u buying?

Posted by SexC > 2014-02-20 12:02 | Report Abuse

u buy I follow u.. ok?

Posted by Firebird2 > 2014-02-20 12:03 | Report Abuse

Thanks calow1.
Roughly will be Rm2.72 + Rm0.0175 = Rm2.7375
Price trading now, Rm2.53. Abt Rm0.20 gain in two months, abt 8% gain in 2 mths

Posted by TonsilBasher > 2014-02-20 12:03 | Report Abuse

sell on good news. Awesome

Posted by SexC > 2014-02-20 12:06 | Report Abuse

abt 8% gain in 2 mths.. sure gain

Posted by Lew Chin Hoong > 2014-02-20 12:07 | Report Abuse

Calow1, any link please? For the calculation of 2.72

Posted by SexC > 2014-02-20 12:13 | Report Abuse

o... getting more n more confusing

Posted by prahadude > 2014-02-20 12:13 | Report Abuse

Rm1.7b divide 708244mil shares. Works out to rm2.4 in dividend

Posted by Firebird2 > 2014-02-20 12:14 | Report Abuse

Yea based on that will be 8% in 2 mths time.

Posted by SexC > 2014-02-20 12:15 | Report Abuse

abt 8% gain in 2 mths.. is good

Posted by prahadude > 2014-02-20 12:19 | Report Abuse

Then be PN17 company..with NTA 33cents over ur cost as of now of 12cents with minimal business.
Unless investor goreng, the 12cents looks like cold water cause no mention of takeover and delisting.

Posted by SexC > 2014-02-20 12:22 | Report Abuse

NA 2.73 per share vs 2.54 now.... cash bal 16mil after special div... 16mil is a lot leh

Posted by SexC > 2014-02-20 12:23 | Report Abuse

16 mil is a lot n can do a lot..

Posted by prahadude > 2014-02-20 12:25 | Report Abuse

Divided over 708244mil shares it comes to 2cents only