I sold all my PJD 57k shares last Friday. At the moment, this counter looks half dead. Huayang is a better counter. However, I am still keeping the warrant
Type Announcement Subject MULTIPLE PROPOSALS Description OSK HOLDINGS BERHAD ("OSKH" OR THE "COMPANY")
I. PROPOSED OSKP ACQUISITION; II. PROPOSED PJD ACQUISITION; III. PROPOSED OSKP OFFER; IV. PROPOSED PJD OFFER; V. PROPOSED DIVERSIFICATION; VI. PROPOSED EXEMPTION; VII. PROPOSED BONUS ISSUE OF WARRANTS; VIII. PROPOSED SPECIAL CASH DIVIDEND; IX. PROPOSED INCREASE IN AUTHORISED SHARE CAPITAL; AND X. PROPOSED AMENDMENTS
(COLLECTIVELY REFERRED TO AS THE "PROPOSALS")
The terms used herein, unless the context otherwise stated, bear the same meaning as those defined in the earlier announcements in relation to the Proposals.
We refer to the announcements made by RHB Investment Bank Berhad ("RHBIB"), on behalf of the Board of Directors of OSKH ("Board"), on 15 October 2014 and 8 December 2014.
On behalf of the Board, RHBIB wishes to announce that the relevant applications in relation to the Proposals have been submitted to the following authorities:-
The reason why Tan Sri OLH is so eager to increase his controlling stake in PJDEV is because he sees tremendous value in PJDEV with over 1 billion unbilled sales and upcoming mega project in Melbourne...All tis developments will maintain PJD at growth path with explosive financial result...at 1.45 PJDEV is deeply undervalued...Perhaps one of the most undervalued stock of all the property stocks in bursa malaysia
See how Cheung Kong and Hutchison restructuring in HKSE, the owner will create a win win situation. The stock price sky rocket up. In KLSE, the owner wants to bully minority shareholders for his personal gain. Judge yourself. Thank you.
My ex boss always taught me "in business, you must be cunning. I am not asking you to do things illegal, but if you see a chance to squeeze more out of others, go ahead and do it"
Can anyone enlighten whether the multiple proposal/merger of OSK/OSKP/PJD/OLH/OLH FLY conditional with the RHB/CIMB merger ?What if it is called off? Head he win, tail we lose?? TQ
These are two separate exercises by different legal entities, failure of RHB/CIMB/MBSB merger has no direct repercussions on OSK/OSKP/PJD exercise per se. Until there is further announcements, the latter exercise is still on.
Just my two cents worth. Base on the announcement released on 15th Oct for the Multiple Proposals, the entire exercise shall be completed in 3Q 2015. For any GO or VGO it would typically take 70+ days to complete from the day of announcement. So if we work backwards, the timing for PJD VGO (if it happens at all) should be sometime in April - June. Another observation worth noting is that OLH actually commands around 42-43% of the entire outstanding shares , not difficult to breach the 50% required by VGO. Good Luck to all PJD investors
Hi Icon8888: if you look up the annual report , there are some companies and individual linked to OLH , one being CM Ltd and few with the surname Wong. They are not considered party acting in concert but they are actually related parties. I did and calculation and SSM search. Reaching 50% should be a problem . By the way I love reading your write up in i3 !
Tan Sri OLH really has done a great damage to PJDEV...Till now it stays stagnant and stuck at 1.46 for a very long time even when the market sentiment has well improved...If not because of his dirty tactic, Pjdev should now trade at least above 2.00...really frustrating!
financial result yr end2014,earning per share is 49.47sen. 1st quarter 2015 earning of 6.7 sen per share. with these fantastic result, the company just declared 5 sen dividend, it is just too much and its no fair compared to the dividend paid by osk and osk prop. Moreover, the takeover offer for pjd is only rm1.60 . Based on the yr2014 result, the PER for PJD offer by Tan Sri is only 3.24. The minority will curse the offer and hope SC will dismiss the proposal submitted by them.
based on 1 billion unbilled sales...tis Pjdev should be trading at 2.30, NOT at tis depressed level of 1.46...Even if he fails to buy controlling stake in Pjdev at 1.60, i guess he has bought a substantial stake at current cheap price...He is controlling the share price now so as not to let it rise until he has bought enough stake in Pjdev...Tat is his dirty strategy...
I do wonder why share prices of OSK, OSKP and PJD are horribly depressed. (OSK down from RM2.40; OSKP down from RM2.80; PJD down from RM2.20). I would have thought maybe depressed conditions of KLCI brought down these share prices. OR is the market reacting unfavourably to the proposed "merger", OR is an unseen hand doing injustice to the values of these share prices?
Icon8888, when was OSK's (read OLH's) merger (OSK/OSKP/PJD) deal got scuttled? Did the S.C. push away the merger proposal? Maybe like the other merger bust-up, share prices of these counters will climb up.
To sephiroth: If that is the case, sad case. Share prices of OLH counters will continue to slumber unless ............ To CrossSymbol: Good for you. If OLH fries it up, better for you. if not, cry man ..........
Osk will only grab olh n gang pjd/oskprop share holdings , the mgo for the remaining shares will fail, the share price will easily break 1.60 soon enuf just like previous osk mgo at 1.68 n oskp mgo at 0.87
hanting999 don't worry bro I got more fund loaded in IFCA with the entry cost of .72! With the current price now still have some handsome paper gain on hand xD Just hope Pj dev and summate can perform well :D
I bought some WC at 57 today. For me, anything below 60 is good buy now. Reason if merge fail it will back to where it begin - probably above 70. If unfortunately the merge happen you still earn abit at current price. Worth the bet.
Lolli, nowadays shareholders are knowledgeable, they won't easil sell at 40% discount to nav, good example failed mgo of osk n oskp, what osk will grab is olh n gang pjd shares only
sephiroth, what is your take on this suggestion. "Can we ask our OSK minority shareholder friends not to vote for the multiple proposals". IF Tan Sri OLH and gang are not allowed to vote and the tit-bits given can be foregone.
haunting, 15 sen special div + 1 warrants for every 4 share are not tit-bits, OSK will most probably end up with 73.6% of OSKP shares n 31.7% of PJD shares and equity account for the profit of these 2 companies
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Aheng
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Posted by Aheng > 2014-12-17 15:09 | Report Abuse
I sold all my PJD 57k shares last Friday. At the moment, this counter looks half dead. Huayang is a better counter. However, I am still keeping the warrant