Posted by CAF-POW > 2014-10-16 17:04 | Report Abuse

Below offer price, just eat lo.....

Posted by Trisven > 2014-10-16 17:06 | Report Abuse

coming from OTB....http://klse.i3investor.com/blogs/OoiTeikBee/61828.jsp

Posted by thinkbig > 2014-10-16 17:10 | Report Abuse

below offer price, eat eat eat. 3 cents masuk pocket.

Posted by Trisven > 2014-10-16 17:10 | Report Abuse

http://www.bursamalaysia.com/market/listed-companies/company-announcements/1765141 who is this Ong Ju xing?

Posted by nch218 > 2014-10-16 17:38 | Report Abuse

The PJD Purchase Consideration of RM1.60 per PJD Share was arrived at on a willing-buyer willing-seller basis, after taking into account the historical share price performance of PJD for the past 12 months up to and including 14 October 2014, being the last trading day prior to signing the Acquisition Agreement.

@ Willing buyer seller basis, i can choose not to sell to OSKH.

Based on the above, the PJD Purchase Consideration of RM1.60 per PJD Share is within the historical high and low daily VWAP of PJD Shares of RM2.24 and RM1.10, respectively, for the past 12 months up to and including 14 October 2014.

Based on the above, the PJD Purchase Consideration of RM1.60 per PJD Share is within the range of a discount of 2.4% to 20.0% over the last transacted price of PJD Shares as at 14 October 2014 and the historical VWAPs of PJD Shares for the past 12 months up to and
including 14 October 2014.

@ offer price Rm 1.60, discount of 2.4% to 20%, offer price should range from 1.64 to 1.92..why want to sell at discount to OSKH??

Posted by CAF-POW > 2014-10-16 18:03 | Report Abuse

That OLH is using roundup average price of lowest and highest to arrive @1.60? Haha......is he genius or what? Farney guy...

Posted by weilian1981 > 2014-10-16 18:06 | Report Abuse

他當我們是丁蟹。

Posted by thinkbig > 2014-10-16 18:10 | Report Abuse

Historical high of RM2.24 is not enough to acquire my holding. At the end of August, when quarter result released and it suddenly all the way dropped today where all holders are expecting it to reach another new high at around or at least RM2.50, it could be OLH in behind playing these tricks and make sure everyone is out of his game.

My selling price still stay at least RM2.30 for pjdev and RM1.30 for pjdev-wa, at least!

No rush, since market is weaken, I can wait. just hold.

Posted by PenangMari > 2014-10-16 18:49 | Report Abuse

That is right. What to do. That f*** OLH already screwed down the price during this weak market. Just hold for 3-6 months some more. Now have to cancel the holidays plan during year end. That bugger really spoiled bred.

Posted by CAF-POW > 2014-10-16 19:37 | Report Abuse

Well.....i can hold it too.....trying to accumulate more bullets to average down during this mega sales.

Posted by nch218 > 2014-10-16 20:45 | Report Abuse

http://bblifediary.blogspot.com/2014/10/blog-post_16.html

PJDEV和OSKPROP的「 合并」消息终于出来了。

但是这所谓的「 合并」并不是将两家公司结合在一起，而是将它们注入OSK（侨丰控股，5053，主板金融股)。

整个重组步骤如下：

OSK将会以每股RM2.00的价格，向丹斯里黄宗华家族和相关公司（Land Management）收购手头上所有的OSKPROP的股权。OSK会发出1亿7764股新股来支付，每股新股订价RM2.00。但由于所收购股权达到73.6%，已经抵触全面献购的门槛。因此，OSK也会以同样价钱向其他OSKPROP小股东提出全面献购，小股东可选择拿现金（每股OSKPROP领回RM2.00）或拿OSK新股（每股OSKPROP换1股OSK）。

此外，OSK也会以每股RM1.00的价格，向所有OSKPROP-WC的持有人收购所有凭单。


OSK也会以每股RM1.60的价格，向丹斯里黄宗华家族和相关公司（Dindings Consolidated）收购手头上所有的PJDEV的股权。OSK会发出1亿1468万股新股来支付，每股新股订价RM2.00。由于所收购股权达到31.7%，并没有抵触全面献购的门槛。但OSK自愿以每股1.60令吉向PJDEV其他小股东提出全面献购，小股东同样可选择拿现金（每股PJDEV领回RM1.60）或拿OSK新股（每股PJDEV换0.8股OSK）。

此外，OSK也会以每股RM0.60的价格，向所有PJDEV-WC的持有人收购所有凭单。

在进行重组的同时，OSK会以4送1比例派送凭单，以及派发每股15仙特别股息。但是，通过换股方式而将OSKPROP和PJDEV转换成OSK新股的股东没分。

很多人开始问：这项交易和不合理？

那就要看你是站在哪一方的立场。

如果你目前是OSK股东而没持有OSKPROP或PJDEV，想必你一定会拍手叫好，觉得这是一宗「 合理得不能再合理」的交易，因为你的公司以「超乎常理的低价」买进他人的公司股份。之后还有免费凭单拿，又有特别股息收。

简直是爽到不能再爽了！！！恭喜恭喜！！


但是，如果你只是OSKPROP或PJDEV的股东，那现在心理一定很不是滋味，或者和我一样狂屌。因为你清楚知道你公司的估值不可能那么低。

OSKPROP产业那么好卖，营业额和净利一直增长，又有新商场，前途一片大好。PJDEV的每股净资产达到RM2.54，又还有大把资产多年没重估。况且最近股价都已经跌了那么低，苦不堪言的时候，人家竟然还跑来压低你的价。

更绝的是，换了股后嫁过了门，人家还是不把你当「自己人 」看，免费凭单和股息没你份。

目前，我个人是绝不接受这献议。

由于重组完成后OSKPROP和PJDEV并不会除牌，那就留着再慢慢跟它熬吧！！

Posted by JXRepcoBuffet > 2014-10-16 22:50 | Report Abuse

OLH.... slow slow wait!

Posted by james70 > 2014-10-17 07:26 | Report Abuse

The shareholders who sell out to OLH their PJD-wc will look very silly in the coming months. PJD has a small share base and with the upcoming fantastic earnings, they will re-rate and shoot up a lot higher than its previous high. OSK on the other hand will likely end up as a holding company owning close to 40% of PJD and it is a fact that holding company status will have a huge discount assigned to it. Case in point KFima and FimaCorp. Others include Boustead and its listed subsidiaries which it privatised in a fair manner.

Posted by Yoon129 > 2014-10-17 09:11 | Report Abuse

After whole game, now I understand why two months ago result out, no special dividend and the price slump, OLH really good game~! well done~ but I will held the share until it merge or anything, you slow slow wait la~! sell you cheap

Posted by Yoon129 > 2014-10-17 09:12 | Report Abuse

Anywhere, any difference between situation of PJ and OSKP? PJ is not reach 70% but OSKP reach 70%. Thanks

Posted by james70 > 2014-10-17 11:09 | Report Abuse

OSKProp dropped more than PJD because OLH has a higher shareholding percentage in OSKProp. If he crosses the 90% threshold, minorities have no choice but to surrender their shares to him.

Posted by Yoon129 > 2014-10-17 11:19 | Report Abuse

James: thanks for the info

Posted by micky92 > 2014-10-17 11:55 | Report Abuse

Why price remain at this level despite other other counters shoot up...work of OLH & his crony.the objective is to scare the weak investor and buy cheap.DON'T be CHEATED

Posted by Konoyaro > 2014-10-17 12:07 | Report Abuse

maybe this is stupid question,but i want clarification from all sifus here.
I bought mine at 1.78,but read the offer is 1.60 for PJDEV..
Will this price be the final price?
I mean,should I cut loss?

Posted by Trisven > 2014-10-17 12:24 | Report Abuse

the offer price is fixed at 1.60, if everyone not agree and shoot him kao kao, then maybe he will adjust higher...1.70,1.80,1.9..who knows. (the possibility is low) Or maybe the plan blew off, then Pjdev still Pjdev. But what can see now is the damage already done to this stock price.

Posted by micky92 > 2014-10-17 12:30 | Report Abuse

Konoyaro...pls read earlier post for better understanding & why i am deciding to hold.decision is yours

Posted by fundtrader > 2014-10-17 12:33 | Report Abuse

then we should gang up and spread the news !!! let the whole world knows and by up whatever PJD share in the open market at current depressed price !!!

Posted by fundtrader > 2014-10-17 12:36 | Report Abuse

I mean, current PJD price is artificially suppressed. So, the more they sell, the more we buy up !

Posted by enid888 > 2014-10-17 12:36 | Report Abuse

If we consider the present values of the lands n properties that are not revaluated, the revised book value of PJD should be more than RM4.00/share. Their offer at RM1.60 is really unfair. I will not take up the offer.

Posted by Simple man > 2014-10-17 13:24 | Report Abuse

how to reject the offer? just remain hold?

Posted by Khoo JenLeb > 2014-10-17 14:13 | Report Abuse

黄宗华昨天宣布把手头上的侨丰产业(OSKP)与辟捷控股(PJD)持股，悉数通过换股方式注入侨丰控股，原本个人分开控制3家上市公司，变成通过1家上市公司控制所有上市资产。

单纯从交易面来看，这是黄宗华重组个人资产的动作，因此，出价每股2令吉收购侨丰产业股权；及每股1.60令吉收购辟捷股权，亦只是反映他通过侨丰控股收购2家公司的"进场成本"。

由于收购侨丰产业的股权抵触了并购条例的最低门槛，规定必须以同样价格向小股东提出全面献购；而收购辟捷控股股权虽没有抵触并购条例的最低门槛，但为了公平起见，却也以同样价格向小股东提出全面献购。

但是，侨丰控股的出价皆沒有反映侨丰产业与辟捷控股的每股资产值，因这不是一个私有化买断股权的建议，只是大股东的"进场成本"，严格而言，今日侨丰产业与辟捷控股的股价是没有必要下跌，以反映大股东的"进场成本"。

这里头是否存在一些误读讯息的成份?
According to above news do ur guys misunderstanding the statement? He is just using his OSH to buy up his share in pjdev and oskp. So after that, he don't own oskp and pjdev but his oskh own pjdev and oskp. Not totally force u to sell to him, unless u willing to. Thn he will accept too. If he totally force u to sell to him, thn do u think pjdev still will listed in bursa? Of coz no. Therefore don't get scammed and sell for low price

Posted by Konoyaro > 2014-10-17 14:17 | Report Abuse

hi all,thanks for the advices.I will hold the stock.peace yo :)

Posted by thinkbig > 2014-10-17 14:21 | Report Abuse

After further study the plan, I think his intention is not at Pjdev or Oskprop, he is actually wanted to increase his holding in OSK Holdings. As currently he is having 40+% in OSKH, by using share swapping option, he can convert his pjdev and oskprop share to oskholding share. and eventually will increase his stake in OSKH (from 40+% to~50-60%) which makes him have the majority stake.

He is a really smart person... meanwhile, do not worry about pjdev, the price will climb back once offer expired. he is using this opportunity to increase his stake in OSKH and use OSKH to control OSKP and PjDev.

Posted by thinkbig > 2014-10-17 14:24 | Report Abuse

this can be proven by his intention to buy back OSK share at 1.68 last year.

Posted by CAF-POW > 2014-10-17 15:06 | Report Abuse

Anyway, it was merely proposal at this stage....not even approved. The bad thing is that he has caused the shares of pjdev and wc unable to enjoy the rebound.....

Posted by nch218 > 2014-10-17 16:19 | Report Abuse

when the offer will be expired??

Posted by Trisven > 2014-10-17 16:26 | Report Abuse

sien...........today just c other counters green green green...3-20% increase...Pjdev just even lower..........thanks to OLH

Posted by longkanginvestor > 2014-10-17 16:30 | Report Abuse

Be patient and you will be rewarded..at least u know no matter how bad the market condition is the price of mkther share is 160 and wc is 60c..
I feel the price is delibrately pushed down to shake off weakholders..who in the right mind will at 156 when u know there is an offer for 160?

Posted by sephiroth > 2014-10-17 16:57 | Report Abuse

something not right with pjd shareholders, now nav 2.50, 1 year later maybe 2.70, now wanna sell at 1.54??? never see the future potential

Posted by Yoon129 > 2014-10-17 17:00 | Report Abuse

So sad.. see other counters moving up.. only this counter not moving due to cap

Posted by raysim88 > 2014-10-17 17:02 | Report Abuse

is he another vincent tan? WTH

Posted by nch218 > 2014-10-17 17:02 | Report Abuse

Seph, i think those sellers below RM 1.60 are part of OLH and his gang, purposely bring down the price to create panic. Since OLH so rich and his entry cost is much lower, he don't mind to create this situation for him to increase his shareholding.

Posted by thinkbig > 2014-10-17 17:04 | Report Abuse

I will hold till at least 2.30, repeat. and RM1.30 for pjdev-wa! :)

Posted by thinkbig > 2014-10-17 17:05 | Report Abuse

if drop below 1.50, I will buy it and sell back to OLH. hehe

Posted by mikashearer > 2014-10-17 17:12 | Report Abuse

My share is no to sell in this month haha....

Posted by micky92 > 2014-10-17 18:05 | Report Abuse

Wonder who are the sellers...remind again avoid this counter if u are CONTRA player...otherwise u be CON

Posted by micky92 > 2014-10-17 18:12 | Report Abuse

Prepare some bullets to buy on tuesday in case price continue to drop

Posted by longkanginvestor > 2014-10-17 19:06 | Report Abuse

Is obvious that it is delibrately pushed down to to scare retailers or to make it look as though u are getting selling it to osk for 160..Holders will be winners

Posted by peazielle > 2014-10-17 19:25 | Report Abuse

Pjd got weakenedis bc many followers who'd bought thru hear say couldn't bear the news ... thinking that this counter will be dissolved at 1.60 or $0.60. We need big tough players who can beat the odds in the next 6mnths or more. if u bought thru hear say, pls stay away..

Posted by longkanginvestor > 2014-10-17 19:52 | Report Abuse

Whether is weakened or pushed down, now they offer u cheap take this opportunity to load up..pjdev wc is a good alternative.. Pe 3.x Naps 2.54 Roe 19%..oskh offer 160 and 60 for pjd and wc respectively..at this price downside is limited for both mother abd son

Posted by kennychoong > 2014-10-18 00:18 | Report Abuse

this counter made thousand of specialist in failure

Posted by optimuss > 2014-10-18 03:10 | Report Abuse

THANKS TO OTB

Posted by micky92 > 2014-10-18 15:15 | Report Abuse

Interesting write up published in STAR today

Posted by azlan88 > 2014-10-18 21:24 | Report Abuse

It is suprised that Focus Malaysia didn't cover the OSK, Oskprop, and PJDev merger. Starbiz onky cover in the small commentary part. And I havent check The Edge Weekly. Unlike when Sime darby launch takeover for NBPOL from Kulim. Analyst rushed to give their yes/no opinion to the takeover offer, the next day after announcement! Even Starbiz and Focus Mlysia still cover this Sime darby story. But I believe that generally any analyst wouldnt agree with the Osk offer, and maybe OLH to powerful that no analyst dare to discredit him

As I wrote earlier, PJdev deal wont go through, in condition that allied party to OLH cant fully acquire pjdev. You can see how Pjdev share price is suppresed yesterday to clear out contra players, panicked and uninformed investors and to create illusion that pjdev takeover will definitely occur. It will takewa long way since pjdev is bigger and they need another 58% to force a full takeover. it is not easy!

for oskprop, it is an obviously easy target but it depend if they can get 90% acceptance. investors should not sell now and should ask for better price instead. I believe that apart from the stingy old man OLH, OSK does not have financial muscle to fund the takeover through cash since all the money is in form of Rhb stake. They only receive dividends and their lending money business is not substantial. that is why they also offer shares. and OLH dnesnt want to burden his OSK with debt, since his aspiration is to ultimately control OSK tight in his grab. If you read carefully, the 15 cent dividend and warrant is for current shareholders, meaning the effective takeover price is RM1.85 (or less since warrant will increase on day of listing) not RM2.00/OSK shares. That showp how cunning's OLH is.

Believe that, Rhb shares will be sold and of course that the one to benefit is OLH.

Posted by micky92 > 2014-10-19 08:52 | Report Abuse

Believe many in the sideline waiting to buy but scare how low OLH and gang want surpress the price.However believe it is right time to buy now coz price will gap up when new offer coming and u have no time to buy cheap cheap.happy investing