Ong is now have NOT direct stake in OSKP and PJD. Ong is only have direct stake in OSK, now control 55% stake, and Ong is only through these OSK, control 73.6% in OSKp and 31.7% in PJD.
Ong is savvy investor, he control timing and is market maker for its own OSK.
it may a trap which they wanted to buy at lowest price after push down to 1.8x!!!! but the way i believe if we insist to hold longer a bit and no emotional, we may get back our capital in osk....pray for it!!!
While waiting for OSK to rebound (timing depend on Ong tactical, strategical motive), lets OSK shareholder have a good feel with OSK newly own OSKP (73.6% stake), its first and flagship mall: awarded as the Best Retail Interior in Asia Pacific Property Awards 2015: Atria Shopping Gallery Mall.
These newly open mall ONLY carry in book value for merely RM 4.5m (when atria is under construction), but will soon re-book in at market value to accord to market value, a massive potential 100x higher or at least RM 450m later.
i believe that now OSK is the most cheaper price.... due to the quarterly report on osk, tp for osk should be 4.00++!!! but the price still maintain around 2.00!!
OSKP need to rebook back Atria Gallery Mall to accord market value from carry value for just RM 4.5m, as these mall is already open and in full operation. Based on OSKP share volume of just 240m, the revalue surplus from Atria Gallery Mall could surge OSKP earning and NTA to as much as additional RM 2/share on top of its exiting NTA RM 2.22.......mean OSKP NTA is potential surge double to RM 4.22/share. Therefore, it is urgency for Ong and OSK to take over OSKP now before these catalyst kickin in next financial result
OSKP is bought at a discount....it will be beneficial to OSKH. By holding OSKH low....OLH is forcing the minority either to accept cash....or declining the offer loh....!!
If settlement of the takeover is in cash....there is even more value for OSKH shareholders.....bcos OSKH NTA is RM 2.70.
Remember... lots have said he is injecting into OSK to have control of OSK... if OSKP value is more he would have controlled more of OSK............... no?
Go and read OSKP annual report, under properties list, page 151, state VERY CLEARLY, the land in which Atria Gallery mall mall is located now, 5.47 acres in SS22, Damasara Jaya, is carry at RM 4.5m in OSKP book value.
OSKP acquire these old Atria for RM 75m in 2007, demolish it for cost RM 50m, and award building of new Atria Gallery mall cum 392 SOFO to Beijing Urban Construction group for RM 230m.
But, OSKP is selling SOFO at RM 1100 psft and sold out it within 7 hour, pocketing GDV more than RM 350m. Therefore, OSKP is essentially sold SOFO alone to cover all building cost for entire development, getting these Atria Gallery mall for 'FREE'
no raider bro. OSKH transforming as Holding Company like BJCORP, PMCORP. So have to assume 20-30% discount for holding company loh. So PJDEV better loh.
Its banking? As good as no loh. Receive Div only. and OSKH not giving us back every year loh. Take to spend on other useless things only as I see..........
moi. We don't know the actual OLH's stake in OskH. Officially now is 55% but it could be more in the hands of PAC which cannot be disclosed. Therefore injecting a heavily discounted asset in OskH can only be one reason--to increase OsKH Share Value after injection. I have check Atria Mall value with Real estate agent after it was disclosed by OskP shareholders many months ago. Buy OskH as OLH said in AGM bcoz it is HIS family biz.
OLH would shake out punters and weak holders so that he can collect the shares and warrants at cheaper price before heading north. I am waiting him to squeeze the price lower than 1.8.
1. Financial: 40% (to be contribute by its 10% stake in RHB)
2. Property development: 40% (to be contribute by its 73.6% subsidiary OSKP + 31.7% associate PJD)
3. Others: 20% Drive from Swiss Hotel, building material, Cable(to be contribute by its 31.7% associate PJD) + Atria shopping mall (to be contribute by by its 73.6% OSKP)
CANNOT......already state VERY clearly in the announcement already. If OSK buy anything higher than 1.95 for OSKP in open market, it must extent the same offer to all shareholder. That is reason why Ong or OSK willing to take longer time and nibbling bit by bit at 1.94 and time is still there for them to slowing accumulate it without trigger higher take over price for all
GMT will say............... OLH is gaming OSK OSKP PJD minorities... and unfortunately this thing is no longer substainable... blah blah blah... needed rights issue 7b... and by tomorrow.... ; )
Best way to make a run for OLH money is all the small fish not only don't sell but buy at 1.94 or 1.95. just sapu since Atria hasn't been fully valued in OSKP accounts.If can samll fish put some pressure. haha if only it was that easy.... maybe it is.....unity is strength.
Wrong loh.....!! Showing or proving people how stupid, not a right way mah...!! Guiding & educating and exchanging investment idea...correct approach loh.......!!
You can have 100mil shares done and see no selling on T+3 bcoz OLH got 1 bil loan to take care all your sellings.( One billion loan from RHB confirmed on EGM )
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SinGor
4,835 posts
Posted by SinGor > 2015-07-21 09:15 | Report Abuse
Don't believe it--OLH is also doing Cha-Cha. Send in Sellers-HaHa.