PJ DEVELOPMENT HOLDINGS BHD

KLSE (MYR): PJDEV (1945)

You're accessing 15 mins delay data. Turn on live stream now to enjoy real-time data!

Last Price

1.50

Today's Change

0.00 (0.00%)

Day's Change

0.00 - 0.00

Trading Volume

0


6 people like this.

2,867 comment(s). Last comment by Venthaan83 2022-04-29 10:43

RVI123

660 posts

Posted by RVI123 > 2016-09-02 23:38 | Report Abuse

I hv been trying to send some information. Tried many times but can not go through. Very funny.

NavinShah

301 posts

Posted by NavinShah > 2016-09-03 14:58 | Report Abuse

Finally, I got thru. Thanks. Now we see what happens.
Are these people really for us us or they are simply
watchdogs. Name sake.

Posted by FAIRnREASONABLE > 2016-09-04 22:25 | Report Abuse

For those who can read Chinese, please refer to the following newspaper comment:

http://www.sinchew.com.my/node/1563893/

Posted by FAIRnREASONABLE > 2016-09-04 22:39 | Report Abuse

文章来源:
星洲日报‧投资致富‧投资茶室‧文:陈艳芳‧2016.09.04

陈艳芳.侨丰出手可以大方点

丹斯里黄宗华掌控的侨丰控股事隔两年后,再对辟捷控股展开全购,显示他对私有化这家产业公司的志在必得,不过,他的出价却丝毫看不出这方面的诚意。

如果私有化辟捷控股那么重要,那么志在必得,以大股东现有的持股,全购成本不会太大,不妨大方一点,提高全购价吸引小股东心甘情愿接受,让私有化顺利的完成,免再起波澜,还可免去骂名。

RVI123

660 posts

Posted by RVI123 > 2016-09-05 00:13 | Report Abuse

If you compare the offer price of RM1.50 to the Net Book Value of RM2.34, you are angry with the offer price.

However, the actual net book value (adjusting the land, properties and hotels to the current value) is RM4.60 per share. OSKH is offering RM1.50 for share worth RM4.60. You will be extremely mad.

RVI123

660 posts

Posted by RVI123 > 2016-09-05 00:17 | Report Abuse

It is like buying your condominium that worth RM460k for an amount of RM150k. This is crazy price.

paperplane2016

21,540 posts

Posted by paperplane2016 > 2016-09-05 00:19 | Report Abuse

Yes! This olh low life!

firehawk

4,769 posts

Posted by firehawk > 2016-09-05 10:25 | Report Abuse

this weird thing shameless one ... behave like thief /robber ....

Posted by FAIRnREASONABLE > 2016-09-05 10:34 | Report Abuse

I agree with RVI123 that the value of PJD is recognised to be much much higher than the offer price.

Remember that OSKH booked an extraordinary gain of some hundreds of millions in its account after completing the last round of take-over. This extraordinary gain is concrete proof that PJD minority shareholders were virtually robbed.

NavinShah

301 posts

Posted by NavinShah > 2016-09-05 11:12 | Report Abuse

Now we see how Watch DOG can help.

susuan

214 posts

Posted by susuan > 2016-09-05 11:19 | Report Abuse

Yes, hope Watch Dog can help.

Anyone amongst us minority shareholders care to comment in the mainstream newspapers eg. The Star?

Posted by FAIRnREASONABLE > 2016-09-05 12:10 | Report Abuse

After consolidating the last round acquisition (of PJD and OSKP), OSKH booked a NEGATIVE GOODWILL of RM363 MILLIONS in its 3Q report for financial year end 2015.

If we check internet for definition of Negative Goodwill:

Negative goodwill is a gain occurring when the price paid for an acquisition is less than the fair value of its net tangible assets. Negative goodwill implies a bargain purchase. Negative goodwill may be listed as a separate line item on the acquiring company's balance sheet and may be considered income.

Definition: Negative goodwill is the difference between the price an acquirer pays for an acquiree and the fair market value of the acquiree's assets, when the fair market value exceeds the price paid. When negative goodwill exists, a bargain purchase has been made that favors the buyer. This situation typically arises when there is a distressed sale, such as when a business is in bankruptcy.

RVI123

660 posts

Posted by RVI123 > 2016-09-05 14:15 | Report Abuse

FAIRnREASONABLE, did they give a breakdown of the negative goodwill? I am quite sure Damansara Jaya Atria Mall represent a big portion of the negative goodwill.

NavinShah

301 posts

Posted by NavinShah > 2016-09-05 18:22 | Report Abuse

How to get in touch with THE STAR NEWSPAPER main stream?

NavinShah

301 posts

Posted by NavinShah > 2016-09-05 18:23 | Report Abuse

Don't depend on the WATCH DOG to help. We must fight on our own.

bone

968 posts

Posted by bone > 2016-09-05 20:01 | Report Abuse

how?

terrytsp

27 posts

Posted by terrytsp > 2016-09-05 22:12 | Report Abuse

This is bullshit. 1.50 is even lower than the previous price 1.56. Can't SC and bursa reevaluate the company? How can they cheat and eat the public shareholder's money by force.

dief

84 posts

Posted by dief > 2016-09-05 22:13 | Report Abuse

what does this mean for my warrants i hold?

terrytsp

27 posts

Posted by terrytsp > 2016-09-05 22:19 | Report Abuse

What can public shareholders do?

Trisven

301 posts

Posted by Trisven > 2016-09-05 22:34 | Report Abuse

what happened to the warrants after this? Is it mean i been forced to sell to them and left no more choices?

Posted by FAIRnREASONABLE > 2016-09-06 08:52 | Report Abuse

To forum editor
Please allow plain information/fact sharing.

enid888

581 posts

Posted by enid888 > 2016-09-06 08:59 | Report Abuse

I have experienced this as well. Many of my comments just can not go through for the last few days. blocked by i3. Why i3 does not allow comments to go through? What is the reason behind?

RVI123

660 posts

Posted by RVI123 > 2016-09-06 09:07 | Report Abuse

I face the same thing. If fact, I complained a few times already on this page. Check back my comments. Important comments just can not sent through many times. Only happened on PJDev page.

RVI123

660 posts

Posted by RVI123 > 2016-09-06 09:10 | Report Abuse

The most recent one, I can not send out from 11.00pm yesterday until 1am this morning. From 7.00am until 8.45am this morning.

kllow

166 posts

Posted by kllow > 2016-09-06 09:45 | Report Abuse

Good bye PJDEV...

Posted by taktaumacammana > 2016-09-06 11:28 | Report Abuse

what happen next if not selling it publicly?

bone

968 posts

Posted by bone > 2016-09-06 12:56 | Report Abuse

someone will call you and ask if you want to sell it

Posted by taktaumacammana > 2016-09-06 14:08 | Report Abuse

Thanks Bone.

I think if a shareholder refuses to sell, then he/she will end up holding a share that will not be able to trade publicly anymore. What a classic makan by Ong!!! No choice but to sell it.....

susuan

214 posts

Posted by susuan > 2016-09-06 14:48 | Report Abuse

When is the last day for minority shareholders still holding on, to sell back to Ong?

bone

968 posts

Posted by bone > 2016-09-06 16:32 | Report Abuse

better take note of the announcements, the thing is minority shareholders are not familiar with the rules and regulations, just make sure don't get stuck and at the end force to sell

cngi

214 posts

Posted by cngi > 2016-09-06 17:30 | Report Abuse

big fish eat small ikan bilis..

CAF-POW

202 posts

Posted by CAF-POW > 2016-09-09 15:41 | Report Abuse

It's bound by CMSA, part VI - ISSUES OF SECURITIES AND TAKE-OVERS AND MERGERS
http://www.sc.com.my/wp-content/uploads/eng/html/cmsa/cmsa2015/cmsa_151007.pdf

Seems like after the > 90% acquired, there's not much the minority can do .... maybe anyone has a lawyer friend can comment.

bone

968 posts

Posted by bone > 2016-09-14 09:01 | Report Abuse

yeah, seems like all the minority will need to let go their shares at this offer

Posted by FAIRnREASONABLE > 2016-09-16 07:49 | Report Abuse

bone, judging from the shares/warrants bought by interested party, it is not true that all minority let go their shares at this offer. Volumes very low now. Don't think can get 90% (outstanding).

NavinShah

301 posts

Posted by NavinShah > 2016-09-16 08:11 | Report Abuse

Dont allow these cheaters to get away with our valueable shares and warrants.

RVI123

660 posts

Posted by RVI123 > 2016-09-16 19:46 | Report Abuse

From the day they announced their intention until today, they have accumulated abt 20% of shares not owned by them. They need to get 90%. Don't think they can achieve.

RVI123

660 posts

Posted by RVI123 > 2016-09-18 00:44 | Report Abuse

I will hold on to my shares.

RVI123

660 posts

Posted by RVI123 > 2016-09-21 00:29 | Report Abuse

Unconditional general offer are issued out on 20/9/16.

860000

208 posts

Posted by 860000 > 2016-09-21 08:24 | Report Abuse

RVI123... What did u mean u dun think they can achieve 90%? OSK already got 90% of PJDEV shares since many days ago and already clearly stated PJDEV will be delisted as according to bursa rules, >90% means delist

RVI123

660 posts

Posted by RVI123 > 2016-09-21 09:56 | Report Abuse

I thk OSK has to get 90% acceptance of the shares not already owned by them (the remaining 10.7%). If they get it, everybody has to sell to them n OSK will own 100% of the company. Can someone confirm if this is correct?

kl foong

421 posts

Posted by kl foong > 2016-09-21 09:58 | Report Abuse

I thk the minority is fighting a losing battle.

RVI123

660 posts

Posted by RVI123 > 2016-09-21 10:10 | Report Abuse

If by the end of the offer exercise, OSK manages to get only 95%, what are the drawbacks that they may face as compared to 100% ownership?

860000

208 posts

Posted by 860000 > 2016-09-21 14:43 | Report Abuse

It is not a listed company... bursa will not protect u

Posted by FAIRnREASONABLE > 2016-09-21 18:23 | Report Abuse

This exercise reflects OSK's desire to take PJD private and to merge (completely) PJD's compatible business units with other similar OSK's unit, properties being the major sector of course. Some PJD's non-core business units may be sold off, I guess.

However, to have totally free hands to restructure and merge PJD business units within OSK, OSK needs a 100% ownership of PJD. If even 2% minority in PJd, their interest in unlisted PJD must still be accounted for.

To exercise compulsory acquisition, OSK must first be able to acquire 90% of the OUTSTANDING shares not own by them at the time of launching the take-over, i.e. 90% of 10% (the remaining). Judging from the low daily transaction, OSK is not likely to achieve the goal of exercising compulsory acquisition.

PJd will be delisted as announced. But it is likely for OSK to revise the offer to buy out those who hold up. For a small sum, it is best for OSK to buy out the rest.

Posted by FAIRnREASONABLE > 2016-09-21 19:50 | Report Abuse

There is room for improvement in the offer prices which currently are unfair and unreasonable. The warrants have 4 years plus to mature, yet not offer any premium at all.

RVI123

660 posts

Posted by RVI123 > 2016-09-21 22:13 | Report Abuse

Thanks! FAIRnREASONABLE for your good analysis. I thk OSK will not be able to achieve the compulsory acquisition level. The remaining shareholders are those who refused to sell in the last general offer. They held on because the offer price was too low and it is just a fraction the actual net book value at RM4.60 per share. Now, the offer price is even lower than the previous offer price of RM1.56. Do you think they will sell?

Teh_Invest

475 posts

Posted by Teh_Invest > 2016-09-22 04:05 | Report Abuse

Means no matter what, PJD will delist?

pillay15

100 posts

Posted by pillay15 > 2016-09-22 08:37 | Report Abuse

I need your professional advice.What happens if I just keep quiet? Meaning I do not take any action, neither selling in the market nor sending the forms to OSK. Is there a possibility I will lose out in case it is delisted? I was wondering why my remiser called me to sell the shares. I am hoping they will give a better offer later. Thank you.

Post a Comment
Market Buzz