Patience is the virtue for continuing investment in this PJDEV stock in order to reap long-term profit.
Just to share that my lack of patience over the last 2 weeks caused me about RM100K in the stock of Success Transformers (7207). My entry to this stock several years ago was below RM1.00. I held on to this stock for long-term investment because I was convinced of the impressive fundamentals of this highly profitable company. This year, however, I became impatient because this laggard stock was inactive and not moving much at all. My long-held commitment to Success was also swayed recently after reading some negative reports & forum discussions about this stock, especially the increasing inventory. I decided to exit. I sold my shares just two weeks ago when the price moved up slightly to RM1.40 thinking that the upswing was transient. I sold all residual shares at RM1.80 just a few days ago. Success closed at RM2.07 yesterday. I lost the opportunity of earning that RM100K because I lost sense of my own judgment to be negatively influenced by others.
I read PJDEV’s 2015 annual report released recently and am convinced that the company has bright prospect moving ahead. I am not repeating my mistake in Success. I shall wait patiently for further development in PJDEV.
Please attend the AGM on 18 November so that we can have a better assessment of the future direction of PJDEV.
Some pointers: According to OLH 1. 2016 profit should not be less than 2015's. 2. 3 - 4 projects to be launched in 2016 3. committed to continue paying dividend (e.g. 2.5 sen just declared) 4. listed status to be kept - at least for the 6 months up to march 2016 - 3 options being considered to comply with 25% public spread - but unable to sell OSK's holding of PJDEV below buying cost (RM1.56)
I remain positive on the counter as a long-term investor. Just bought some last week. Will collect more at the right time.
I think it is difficult to increase the public spread to 25% under the current difficult market conditions. I don't rule out an offer from OSK to take PJDEV private. I believe the new offer price, if the offer happens, cannot be less than the last offer.
Fairnreasonable u think any way OLH will issue another 15% of share to make the number of 25% at the same time raise more fund for the 2016 project
To me OLH won't private it. As the time it almost reaching 90% he can just push a little bit he will get more than 90%. He know this game well compare to anyone of us.
I think somebody is pressing its price down. That is the only reason to explain that this company consists of many valuable land in KL but the price cannot raise....
Is it possible that OSKH will inject its development lands into PJD? OSKH becomes a holding company and PJD becomes its property subsidiary? However, if this happens, I can't think of a way how OSKH is going to solve the public shareholding spread requirement?
We refer to our announcements dated 7 September 2015, 8 October 2015 and 16 February 2016.
The Board of Directors of PJD wishes to announce that the Company has, today, received a letter from Bursa Malaysia Securities Berhad (“Bursa Securities”) dated 17 February 2016, granting its approval for a further extension of time of 6 months until 6 September 2016 for the Company to comply with the public shareholding spread requirement.
Based on the Record of Depositors as at 18 January 2016, the public shareholding spread is 10.64%, which is still below the minimum public shareholding spread requirement.
The Company is considering various options to address the shortfall in the public shareholding spread, which may include placement of shares, to increase its public shareholding spread to comply with the public shareholding spread requirement in accordance with the Main Market Listing Requirements (“Listing Requirements”) of Bursa Securities.
The Company will continue to monitor the level of public shareholding spread and make the necessary announcements in relation to the status of its efforts to comply with the public shareholding spread requirement in accordance with the Bursa Securities Listing Requirements.
The Board of Directors of PJD wishes to announce that the Company proposes to seek shareholders' approval for the Proposals at the forthcoming 51st Annual General Meeting to be convened at a date to be notified later.
A Circular setting out the details pertaining to the Proposals will be despatched to shareholders in due course.
================================================================== This year, OSK Property will launch its first overseas project. It obtained the development approval for a five-acre parcel in Melbourne, Australia, last year. The company is looking to develop an integrated development with an estimated GDV of A$2.8 billion (roughly RM8.28 billion) on the land, which is located in the Southbank area next to Yarra River.
“Though we will be launching the first phase of the Melbourne project by the end of this year, Malaysia remains our playground,” Ong says.
The developer will launch several serviced apartment projects in the country, including the second phase of Timurbay Seafront Residence in Kuantan, Pahang, and Luminari in Harbour Place, Butterworth, next month. Also planned are a bungalow development in Sungai Petani and Phase 2 of Windmill Upon Hills in Genting Highlands, Pahang. Altogether, the GDV of new launches in Malaysia this year is an estimated RM1.06 billion.
Recently, OSK Property handed over several projects, including Phase 1 of You City in Cheras, You Residences. “The next phase, You Vista, will be handed over in the middle of the year,” Ong says. “We haven’t started on the third phase yet because we are planning a mall there and the market is a bit soft for malls in the Klang Valley. It will be connected directly to an upcoming MRT station there. That is a very valuable asset and we want to make sure that we get it right.” =======================================================
Most of the projects mentioned belong to PJD (Melbourne project, You City ..).
I thk OSKH wants PJDev to remain listed. They have about 90% already, why take it private and go to hassle to relist its property arm few years later. OLH had mentioned in February that they had been trying to do private placement for PJDev but the market was bad to make that happened.
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....
fairnreasonable
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Posted by fairnreasonable > 2015-10-18 13:18 | Report Abuse
Agree with bone that we need patience. In any case, the dividend should continue and better than fixed interest income.